Foster & Motley Inc. Trims Holdings in Sprouts Farmers Market, Inc. (NASDAQ:SFM)

Key Points

• Foster & Motley Inc. reduced its stake in Sprouts Farmers Market by 28.8%, selling 5,191 shares to bring its total ownership down to 12,806 shares, valued at approximately $1.96 million.
• Several hedge funds significantly altered their positions in Sprouts Farmers Market, with Assenagon Asset Management increasing its stake by 1,033.4% to 1,476,351 shares, worth around $225.35 million.
• Analyst ratings have shifted, with Wall Street Zen upgrading Sprouts Farmers Market from a "hold" to a "buy," while Wells Fargo raised its price target from $170 to $175, reflecting growing investor interest.

Foster & Motley Inc. trimmed its position in shares of Sprouts Farmers Market, Inc. (NASDAQ:SFM - Free Report) by 28.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 12,806 shares of the company's stock after selling 5,191 shares during the period. Foster & Motley Inc.'s holdings in Sprouts Farmers Market were worth $1,955,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Whipplewood Advisors LLC increased its stake in shares of Sprouts Farmers Market by 92.0% during the first quarter. Whipplewood Advisors LLC now owns 192 shares of the company's stock valued at $29,000 after purchasing an additional 92 shares in the last quarter. Dogwood Wealth Management LLC purchased a new position in Sprouts Farmers Market in the 1st quarter worth approximately $30,000. GeoWealth Management LLC lifted its position in Sprouts Farmers Market by 115.4% in the 4th quarter. GeoWealth Management LLC now owns 265 shares of the company's stock valued at $34,000 after acquiring an additional 142 shares in the last quarter. Versant Capital Management Inc increased its holdings in shares of Sprouts Farmers Market by 111.3% in the 1st quarter. Versant Capital Management Inc now owns 319 shares of the company's stock worth $49,000 after purchasing an additional 168 shares in the last quarter. Finally, Contravisory Investment Management Inc. raised its stake in shares of Sprouts Farmers Market by 100.9% in the first quarter. Contravisory Investment Management Inc. now owns 454 shares of the company's stock worth $69,000 after purchasing an additional 228 shares during the last quarter.

Insider Buying and Selling at Sprouts Farmers Market

In related news, insider John Scott Neal sold 17,721 shares of the company's stock in a transaction dated Thursday, May 15th. The shares were sold at an average price of $160.89, for a total transaction of $2,851,131.69. Following the completion of the transaction, the insider owned 14,178 shares in the company, valued at $2,281,098.42. This represents a 55.55% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Nicholas Konat sold 20,270 shares of the firm's stock in a transaction that occurred on Thursday, May 29th. The shares were sold at an average price of $167.50, for a total value of $3,395,225.00. Following the completion of the transaction, the chief operating officer owned 55,675 shares in the company, valued at approximately $9,325,562.50. This trade represents a 26.69% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 65,743 shares of company stock valued at $10,769,633. Insiders own 1.10% of the company's stock.

Sprouts Farmers Market Trading Up 1.3%

Sprouts Farmers Market stock traded up $2.01 during mid-day trading on Monday, hitting $156.09. The company had a trading volume of 981,187 shares, compared to its average volume of 1,744,241. The company's fifty day moving average is $163.73 and its 200-day moving average is $158.57. Sprouts Farmers Market, Inc. has a 12-month low of $91.36 and a 12-month high of $182.00. The company has a market capitalization of $15.25 billion, a price-to-earnings ratio of 32.13, a P/E/G ratio of 1.74 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 for the quarter, beating the consensus estimate of $1.23 by $0.12. The firm had revenue of $2.22 billion during the quarter, compared to analyst estimates of $2.16 billion. Sprouts Farmers Market had a return on equity of 36.53% and a net margin of 5.77%. Sprouts Farmers Market's revenue for the quarter was up 17.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.94 EPS. As a group, sell-side analysts expect that Sprouts Farmers Market, Inc. will post 4.29 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on SFM shares. Barclays raised 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. Roth Capital set a $155.00 price target on shares of Sprouts Farmers Market and gave the stock a "neutral" rating in a research report on Thursday, May 1st. Evercore ISI boosted their price objective on Sprouts Farmers Market from $180.00 to $185.00 and gave the company an "outperform" rating in a research note on Thursday, May 1st. Royal Bank Of Canada lifted their price target on shares of Sprouts Farmers Market from $173.00 to $176.00 and gave the company a "sector perform" rating in a report on Thursday. Finally, Jefferies Financial Group raised shares of Sprouts Farmers Market from a "hold" rating to a "buy" rating and set a $190.00 price objective for the company in a research note on Friday. Eight investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $171.53.

Sprouts Farmers Market 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.