Element Capital Management LLC Takes Position in Sprouts Farmers Market, Inc. $SFM

Key Points

• Element Capital Management LLC made a new investment of approximately $2.78 million in Sprouts Farmers Market, acquiring 18,216 shares during the 1st quarter, which represents about 0.7% of their investment portfolio.
• Sprouts Farmers Market reported quarterly earnings of $1.35 EPS, exceeding consensus estimates, and saw a 17.3% increase in revenue compared to the same quarter last year.
• Multiple brokerages have adjusted their price targets for Sprouts Farmers Market, with the consensus price target now at $172.20, and several analysts giving the stock a "Moderate Buy" rating.

Element Capital Management LLC acquired a new position in shares of Sprouts Farmers Market, Inc. (NASDAQ:SFM - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 18,216 shares of the company's stock, valued at approximately $2,780,000. Sprouts Farmers Market accounts for 0.7% of Element Capital Management LLC's investment portfolio, making the stock its 26th biggest holding.

A number of other institutional investors and hedge funds have also recently modified their holdings of SFM. Dimensional Fund Advisors LP boosted its holdings in Sprouts Farmers Market by 0.7% in the first quarter. Dimensional Fund Advisors LP now owns 2,217,900 shares of the company's stock worth $338,481,000 after acquiring an additional 15,930 shares in the last quarter. Assenagon Asset Management S.A. grew its stake in Sprouts Farmers Market by 1,033.4% during the 1st quarter. Assenagon Asset Management S.A. now owns 1,476,351 shares of the company's stock valued at $225,350,000 after purchasing an additional 1,346,097 shares during the last quarter. Northern Trust Corp boosted its stake in shares of Sprouts Farmers Market by 13.5% in the fourth quarter. Northern Trust Corp now owns 1,355,147 shares of the company's stock worth $172,199,000 after buying an additional 160,882 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Sprouts Farmers Market by 1.0% in the first quarter. Charles Schwab Investment Management Inc. now owns 997,152 shares of the company's stock valued at $152,205,000 after purchasing an additional 10,059 shares during the last quarter. Finally, Driehaus Capital Management LLC boosted its position in shares of Sprouts Farmers Market by 5.2% during the fourth quarter. Driehaus Capital Management LLC now owns 942,785 shares of the company's stock worth $119,800,000 after buying an additional 46,258 shares during the period.

Insider Activity at Sprouts Farmers Market

In related news, Director Terri F. Graham sold 1,278 shares of the company's stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $180.00, for a total transaction of $230,040.00. Following the sale, the director owned 32,910 shares of the company's stock, valued at approximately $5,923,800. This represents a 3.74% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Joseph D. O'leary sold 2,937 shares of the firm's stock in a transaction on Tuesday, August 5th. The stock was sold at an average price of $150.07, for a total transaction of $440,755.59. Following the completion of the sale, the director directly owned 14,994 shares in the company, valued at approximately $2,250,149.58. This trade represents a 16.38% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 58,504 shares of company stock valued at $9,407,691 over the last quarter. 1.10% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

SFM has been the topic of a number of research analyst reports. Barclays upgraded Sprouts Farmers Market from an "equal weight" rating to an "overweight" rating and boosted their target price for the stock from $173.00 to $185.00 in a research report on Thursday, July 31st. Royal Bank Of Canada lifted their price objective on shares of Sprouts Farmers Market from $173.00 to $176.00 and gave the stock a "sector perform" rating in a research report on Thursday, July 31st. Wells Fargo & Company upgraded shares of Sprouts Farmers Market from an "equal weight" rating to an "overweight" rating and boosted their price objective for the stock from $175.00 to $180.00 in a report on Tuesday, August 5th. Wall Street Zen raised shares of Sprouts Farmers Market from a "hold" rating to a "buy" rating in a research report on Wednesday, April 23rd. Finally, Evercore ISI reduced their target price on shares of Sprouts Farmers Market from $195.00 to $190.00 and set an "outperform" rating on the stock in a report on Tuesday, August 12th. Seven investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $172.20.

Sprouts Farmers Market Stock Up 1.6%

NASDAQ:SFM traded up $2.23 during trading hours on Friday, reaching $145.64. 1,386,472 shares of the stock were exchanged, compared to its average volume of 1,612,717. Sprouts Farmers Market, Inc. has a 52 week low of $95.25 and a 52 week high of $182.00. The firm has a 50 day simple moving average of $159.43 and a 200-day simple moving average of $158.62. The stock has a market capitalization of $14.23 billion, a P/E ratio of 29.97, a P/E/G ratio of 1.64 and a beta of 0.78.

Sprouts Farmers Market (NASDAQ:SFM - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The company reported $1.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.23 by $0.12. The company had revenue of $2.22 billion during the quarter, compared to analyst estimates of $2.16 billion. Sprouts Farmers Market had a net margin of 5.77% and a return on equity of 36.53%. The firm's revenue was up 17.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.94 EPS. As a group, analysts expect that Sprouts Farmers Market, Inc. will post 4.29 earnings per share for the current year.

About Sprouts Farmers Market

Sprouts Farmers Market, Inc, together with its subsidiaries, engages in the retailing of fresh, natural, and organic food products under the Sprouts brand in the United States. It offers perishable product categories, including fresh produce, meat and meat alternatives, seafood, deli, bakery, floral, and dairy and dairy alternatives; and non-perishable product categories, such as grocery, vitamins and supplements, bulk items, frozen foods, beer and wine, and natural health and body care.