Informed Momentum Co LLC Sells 6,345 Shares of Sprouts Farmers Market, Inc. (NASDAQ:SFM)

Key Points

• Informed Momentum Co LLC reduced its stake in Sprouts Farmers Market by 19.2% in Q1, selling 6,345 shares, and now holds 26,769 shares worth $4.08 million.
• Several hedge funds have recently increased or entered positions in Sprouts Farmers Market, with notable investments including Assenagon Asset Management, which raised its holdings by over 1,000%.
• Analysts have upgraded Sprouts Farmers Market's rating to "buy," with price targets reaching as high as $190, reflecting positive sentiment around the company's recent performance and earnings report.

Informed Momentum Co LLC decreased its position in Sprouts Farmers Market, Inc. (NASDAQ:SFM - Free Report) by 19.2% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 26,769 shares of the company's stock after selling 6,345 shares during the quarter. Informed Momentum Co LLC's holdings in Sprouts Farmers Market were worth $4,086,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. Crossmark Global Holdings Inc. lifted its position in Sprouts Farmers Market by 1.2% during the 1st quarter. Crossmark Global Holdings Inc. now owns 7,201 shares of the company's stock valued at $1,099,000 after purchasing an additional 84 shares during the period. Whipplewood Advisors LLC raised its position in shares of Sprouts Farmers Market by 92.0% in the 1st quarter. Whipplewood Advisors LLC now owns 192 shares of the company's stock valued at $29,000 after acquiring an additional 92 shares during the period. Summit Investment Advisors Inc. raised its position in shares of Sprouts Farmers Market by 0.3% in the 4th quarter. Summit Investment Advisors Inc. now owns 30,664 shares of the company's stock valued at $3,896,000 after acquiring an additional 95 shares during the period. Avantax Advisory Services Inc. raised its position in shares of Sprouts Farmers Market by 2.1% in the 1st quarter. Avantax Advisory Services Inc. now owns 4,899 shares of the company's stock valued at $748,000 after acquiring an additional 99 shares during the period. Finally, JT Stratford LLC raised its position in shares of Sprouts Farmers Market by 0.9% in the 4th quarter. JT Stratford LLC now owns 11,091 shares of the company's stock valued at $1,409,000 after acquiring an additional 100 shares during the period.

Sprouts Farmers Market Price Performance

Shares of SFM traded down $1.65 during mid-day trading on Wednesday, hitting $146.18. 3,032,587 shares of the company's stock were exchanged, compared to its average volume of 1,502,648. Sprouts Farmers Market, Inc. has a 52 week low of $95.25 and a 52 week high of $182.00. The company has a 50-day simple moving average of $160.39 and a 200 day simple moving average of $158.67. The company has a market cap of $14.29 billion, a PE ratio of 30.08, a P/E/G ratio of 1.67 and a beta of 0.78.

Sprouts Farmers Market (NASDAQ:SFM - Get Free Report) last released its 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. Sprouts Farmers Market had a net margin of 5.77% and a return on equity of 36.53%. The business had revenue of $2.22 billion during the quarter, compared to analysts' expectations of $2.16 billion. During the same period last year, the business earned $0.94 earnings per share. The firm's revenue was up 17.3% on a year-over-year basis. On average, analysts anticipate that Sprouts Farmers Market, Inc. will post 4.29 earnings per share for the current year.

Insiders Place Their Bets

In related news, COO Nicholas Konat sold 20,270 shares of the firm's stock in a transaction 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 directly owned 55,675 shares of the company's stock, valued at approximately $9,325,562.50. This trade represents a 26.69% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider John Scott Neal sold 17,721 shares of Sprouts Farmers Market stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $160.89, for a total transaction of $2,851,131.69. Following the transaction, the insider directly owned 14,178 shares of the company's stock, valued at approximately $2,281,098.42. This trade represents a 55.55% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 77,225 shares of company stock valued at $12,425,983 in the last ninety days. 1.10% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

SFM has been the subject of a number of research reports. UBS Group set a $180.00 target price on Sprouts Farmers Market in a research note on Thursday, July 31st. Evercore ISI lowered their target price on Sprouts Farmers Market from $195.00 to $190.00 and set an "outperform" rating for the company in a research note on Tuesday. Jefferies Financial Group raised Sprouts Farmers Market from a "hold" rating to a "buy" rating and set a $190.00 target price for the company in a research note on Friday, August 1st. Wells Fargo & Company raised Sprouts Farmers Market from an "equal weight" rating to an "overweight" rating and increased their target price for the stock from $175.00 to $180.00 in a research note on Tuesday, August 5th. Finally, Wall Street Zen raised Sprouts Farmers Market from a "hold" rating to a "buy" rating in a research note on Wednesday, April 23rd. Seven research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, Sprouts Farmers Market currently has an average rating of "Moderate Buy" and an average target price of $172.20.

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.