Mackenzie Financial Corp Raises Stake in Sprouts Farmers Market, Inc. (NASDAQ:SFM)

Mackenzie Financial Corp grew its position in Sprouts Farmers Market, Inc. (NASDAQ:SFM - Free Report) by 48.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,066 shares of the company's stock after buying an additional 3,271 shares during the period. Mackenzie Financial Corp's holdings in Sprouts Farmers Market were worth $1,279,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in SFM. Mirae Asset Global Investments Co. Ltd. purchased a new position in Sprouts Farmers Market during the fourth quarter worth about $31,000. GeoWealth Management LLC boosted its position in shares of Sprouts Farmers Market by 115.4% during the 4th quarter. GeoWealth Management LLC now owns 265 shares of the company's stock worth $34,000 after purchasing an additional 142 shares during the period. Global Retirement Partners LLC boosted its position in shares of Sprouts Farmers Market by 84.1% during the 4th quarter. Global Retirement Partners LLC now owns 289 shares of the company's stock worth $37,000 after purchasing an additional 132 shares during the period. SBI Securities Co. Ltd. purchased a new position in shares of Sprouts Farmers Market during the fourth quarter worth $51,000. Finally, V Square Quantitative Management LLC boosted its position in shares of Sprouts Farmers Market by 32.9% during the fourth quarter. V Square Quantitative Management LLC now owns 460 shares of the company's stock worth $58,000 after buying an additional 114 shares during the period.

Insider Activity

In other Sprouts Farmers Market news, Director Joe Fortunato sold 5,000 shares of the company's stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $144.80, for a total transaction of $724,000.00. Following the completion of the transaction, the director now owns 28,571 shares in the company, valued at approximately $4,137,080.80. This represents a 14.89% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Nicholas Konat sold 20,270 shares of the firm's stock in a transaction dated 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 now owns 55,675 shares of the company's stock, valued at approximately $9,325,562.50. The trade was a 26.69% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 149,547 shares of company stock valued at $22,307,280. Insiders own 1.10% of the company's stock.

Sprouts Farmers Market Stock Down 2.3%

SFM stock traded down $4.18 during trading on Tuesday, hitting $175.35. 1,351,292 shares of the company's stock were exchanged, compared to its average volume of 1,452,630. The business has a 50-day moving average price of $161.49 and a two-hundred day moving average price of $151.90. The stock has a market capitalization of $17.16 billion, a price-to-earnings ratio of 46.71, a PEG ratio of 2.31 and a beta of 0.87. Sprouts Farmers Market, Inc. has a 52-week low of $74.15 and a 52-week high of $181.92. The company has a current ratio of 1.13, a quick ratio of 0.59 and a debt-to-equity ratio of 0.01.

Sprouts Farmers Market (NASDAQ:SFM - Get Free Report) last issued its earnings results on Wednesday, April 30th. The company reported $1.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.54 by $0.27. The business had revenue of $2.24 billion during the quarter, compared to analysts' expectations of $2.20 billion. Sprouts Farmers Market had a net margin of 4.93% and a return on equity of 29.86%. The company's revenue for the quarter was up 18.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.12 EPS. As a group, equities research analysts expect that Sprouts Farmers Market, Inc. will post 4.29 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on SFM shares. Royal Bank of Canada raised their target price on Sprouts Farmers Market from $160.00 to $172.00 and gave the company a "sector perform" rating in a report on Thursday, May 1st. Wells Fargo & Company raised their price objective on shares of Sprouts Farmers Market from $170.00 to $175.00 and gave the company an "equal weight" rating in a research note on Thursday, May 1st. Deutsche Bank Aktiengesellschaft raised shares of Sprouts Farmers Market from a "hold" rating to a "buy" rating and raised their price objective for the company from $163.00 to $190.00 in a research note on Monday, March 17th. Evercore ISI raised their price target on shares of Sprouts Farmers Market from $180.00 to $185.00 and gave the company an "outperform" rating in a research report on Thursday, May 1st. Finally, Northcoast Research raised shares of Sprouts Farmers Market from a "neutral" rating to a "buy" rating and set a $185.00 price target for the company in a research report on Friday, February 28th. Nine analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $167.79.

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.