Jupiter Asset Management Ltd. Cuts Stock Position in Sprouts Farmers Market, Inc. (NASDAQ:SFM)

Key Points

• Jupiter Asset Management Ltd. reduced its stake in Sprouts Farmers Market by 12.9%, selling 64,599 shares to retain approximately 436,275 shares valued at $66.6 million.
• Insider trading activity included Director Joe Fortunato selling 2,000 shares and COO Nicholas Konat selling 20,270 shares, indicating a combined decrease in ownership of 6.63% and 26.69%, respectively.
• Analysts have raised their price targets for Sprouts Farmers Market, with Evercore ISI and Barclays increasing their targets to $185, contributing to a consensus rating of "Moderate Buy."

Jupiter Asset Management Ltd. decreased its position in Sprouts Farmers Market, Inc. (NASDAQ:SFM - Free Report) by 12.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 436,275 shares of the company's stock after selling 64,599 shares during the quarter. Jupiter Asset Management Ltd. owned approximately 0.45% of Sprouts Farmers Market worth $66,593,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Crossmark Global Holdings Inc. grew its position in shares of Sprouts Farmers Market by 1.2% in the 1st quarter. Crossmark Global Holdings Inc. now owns 7,201 shares of the company's stock worth $1,099,000 after buying an additional 84 shares during the period. Whipplewood Advisors LLC grew 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 worth $29,000 after buying an additional 92 shares during the period. Summit Investment Advisors Inc. grew 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 worth $3,896,000 after buying an additional 95 shares during the period. Avantax Advisory Services Inc. grew 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 worth $748,000 after buying an additional 99 shares during the period. Finally, JT Stratford LLC grew 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 worth $1,409,000 after buying an additional 100 shares during the period.

Sprouts Farmers Market Price Performance

Shares of NASDAQ:SFM traded up $1.51 during trading on Wednesday, hitting $150.75. The company's stock had a trading volume of 1,016,150 shares, compared to its average volume of 1,742,923. The company has a 50-day moving average of $163.24 and a 200-day moving average of $158.60. Sprouts Farmers Market, Inc. has a 12 month low of $93.42 and a 12 month high of $182.00. The firm has a market cap of $14.73 billion, a price-to-earnings ratio of 31.02, a P/E/G ratio of 1.73 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 EPS for the quarter, topping analysts' consensus estimates 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 company had revenue of $2.22 billion for the quarter, compared to analysts' expectations of $2.16 billion. During the same quarter last year, the business earned $0.94 EPS. The firm's revenue was up 17.3% compared to the same quarter last year. As a group, research analysts anticipate that Sprouts Farmers Market, Inc. will post 4.29 earnings per share for the current year.

Insider Activity at Sprouts Farmers Market

In other Sprouts Farmers Market news, COO Nicholas Konat sold 20,270 shares of the stock in a transaction that occurred on Thursday, May 29th. The shares were sold at an average price of $167.50, for a total transaction of $3,395,225.00. Following the completion of the sale, the chief operating officer directly owned 55,675 shares of the company's stock, valued at $9,325,562.50. This trade represents a 26.69% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Jack Sinclair sold 4,045 shares of the stock in a transaction that occurred on Monday, July 7th. The shares were sold at an average price of $162.94, for a total transaction of $659,092.30. Following the sale, the chief executive officer directly owned 174,740 shares of the company's stock, valued at approximately $28,472,135.60. This trade represents a 2.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 63,743 shares of company stock worth $10,436,153 in the last 90 days. Insiders own 1.10% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on SFM shares. Roth Capital set a $155.00 target price on shares of Sprouts Farmers Market and gave the stock a "neutral" rating in a research report on Thursday, May 1st. Evercore ISI upped their target price on shares of Sprouts Farmers Market from $180.00 to $185.00 and gave the stock an "outperform" rating in a research report on Thursday, May 1st. UBS Group set a $180.00 price objective on shares of Sprouts Farmers Market in a research report on Thursday, July 31st. Royal Bank Of Canada increased their price objective on shares of Sprouts Farmers Market from $173.00 to $176.00 and gave the company a "sector perform" rating in a research report on Thursday, July 31st. Finally, 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. Seven investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $171.87.

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.