Envestnet Asset Management Inc. Sells 11,147 Shares of Sprouts Farmers Market, Inc. (NASDAQ:SFM)

Envestnet Asset Management Inc. cut its position in Sprouts Farmers Market, Inc. (NASDAQ:SFM - Free Report) by 6.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 158,467 shares of the company's stock after selling 11,147 shares during the quarter. Envestnet Asset Management Inc. owned 0.16% of Sprouts Farmers Market worth $24,188,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Concurrent Investment Advisors LLC bought a new position in shares of Sprouts Farmers Market during the first quarter worth about $1,297,000. World Investment Advisors bought a new stake in Sprouts Farmers Market in the first quarter worth approximately $527,000. OneDigital Investment Advisors LLC increased its holdings in Sprouts Farmers Market by 72.0% in the first quarter. OneDigital Investment Advisors LLC now owns 3,144 shares of the company's stock worth $480,000 after purchasing an additional 1,316 shares in the last quarter. Calamos Advisors LLC increased its holdings in Sprouts Farmers Market by 80.0% in the first quarter. Calamos Advisors LLC now owns 11,095 shares of the company's stock worth $1,694,000 after purchasing an additional 4,930 shares in the last quarter. Finally, Moody Aldrich Partners LLC bought a new stake in Sprouts Farmers Market in the first quarter worth approximately $5,663,000.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on SFM shares. Evercore ISI lifted their target price on Sprouts Farmers Market from $180.00 to $185.00 and gave the stock an "outperform" rating in a report on Thursday, May 1st. UBS Group raised their price objective on Sprouts Farmers Market from $195.00 to $196.00 and gave the company a "neutral" rating in a research note on Thursday, May 1st. Royal Bank Of Canada reissued a "sector perform" rating and issued a $173.00 price objective (up previously from $172.00) on shares of Sprouts Farmers Market in a research note on Tuesday. Wall Street Zen raised Sprouts Farmers Market from a "hold" rating to a "buy" rating in a research note on Wednesday, April 23rd. Finally, Roth Capital set a $155.00 price objective on Sprouts Farmers Market and gave the company a "neutral" rating in a research note on Thursday, May 1st. Nine investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $167.86.

Sprouts Farmers Market Stock Up 2.0%

Shares of NASDAQ:SFM traded up $3.42 during mid-day trading on Thursday, hitting $170.69. 710,202 shares of the company traded hands, compared to its average volume of 1,565,997. The stock has a market cap of $16.70 billion, a P/E ratio of 38.38, a P/E/G ratio of 2.06 and a beta of 0.77. The company has a current ratio of 0.95, a quick ratio of 0.51 and a debt-to-equity ratio of 0.01. Sprouts Farmers Market, Inc. has a 12-month low of $81.41 and a 12-month high of $182.00. The stock has a 50-day moving average price of $164.04 and a two-hundred day moving average price of $156.17.

Sprouts Farmers Market (NASDAQ:SFM - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The company reported $1.81 earnings per share for the quarter, topping the consensus estimate of $1.54 by $0.27. Sprouts Farmers Market had a return on equity of 34.20% and a net margin of 5.53%. The business had revenue of $2.24 billion for the quarter, compared to analysts' expectations of $2.20 billion. During the same quarter in the previous year, the firm earned $1.12 earnings per share. The business's revenue was up 18.7% on a year-over-year basis. On average, equities research analysts forecast that Sprouts Farmers Market, Inc. will post 4.29 earnings per share for the current year.

Insiders Place Their Bets

In other Sprouts Farmers Market news, CEO Jack Sinclair sold 4,054 shares of the business's stock in a transaction on Monday, June 16th. The stock was sold at an average price of $160.45, for a total value of $650,464.30. Following the transaction, the chief executive officer owned 174,740 shares of the company's stock, valued at approximately $28,037,033. The trade was a 2.27% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Kim Coffin sold 3,643 shares of the business's stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $174.27, for a total value of $634,865.61. Following the completion of the sale, the senior vice president owned 11,886 shares in the company, valued at approximately $2,071,373.22. The trade was a 23.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 74,035 shares of company stock valued at $12,213,719. 1.10% of the stock is currently owned by insiders.

Sprouts Farmers Market Company Profile

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.