PNC Financial Services Group Inc. boosted its holdings in shares of Sprouts Farmers Market, Inc. (NASDAQ:SFM - Free Report) by 38.2% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 11,147 shares of the company's stock after acquiring an additional 3,084 shares during the quarter. PNC Financial Services Group Inc.'s holdings in Sprouts Farmers Market were worth $1,701,000 at the end of the most recent quarter.
Several other institutional investors have also made changes to their positions in SFM. Wells Fargo & Company MN lifted its holdings in shares of Sprouts Farmers Market by 26.2% during the 4th quarter. Wells Fargo & Company MN now owns 181,364 shares of the company's stock valued at $23,046,000 after buying an additional 37,637 shares during the last quarter. Envestnet Asset Management Inc. lifted its holdings in shares of Sprouts Farmers Market by 39.0% during the 4th quarter. Envestnet Asset Management Inc. now owns 169,614 shares of the company's stock valued at $21,553,000 after buying an additional 47,571 shares during the last quarter. Russell Investments Group Ltd. lifted its holdings in shares of Sprouts Farmers Market by 30.7% during the 4th quarter. Russell Investments Group Ltd. now owns 84,181 shares of the company's stock valued at $10,698,000 after buying an additional 19,750 shares during the last quarter. Invesco Ltd. lifted its holdings in shares of Sprouts Farmers Market by 22.9% during the 4th quarter. Invesco Ltd. now owns 1,582,896 shares of the company's stock valued at $201,139,000 after buying an additional 294,553 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in shares of Sprouts Farmers Market during the 4th quarter valued at about $19,926,000.
Wall Street Analyst Weigh In
Several brokerages have recently issued reports on SFM. Jefferies Financial Group upgraded Sprouts Farmers Market from a "hold" rating to a "buy" rating and set a $190.00 price target for the company in a report on Friday, August 1st. Roth Capital set a $155.00 price target on Sprouts Farmers Market and gave the company a "neutral" rating in a report on Thursday, May 1st. Wells Fargo & Company upgraded Sprouts Farmers Market from an "equal weight" rating to an "overweight" rating and boosted their target price for the stock from $175.00 to $180.00 in a report on Tuesday, August 5th. Royal Bank Of Canada boosted their target price on Sprouts Farmers Market from $173.00 to $176.00 and gave the stock a "sector perform" rating in a report on Thursday, July 31st. Finally, Evercore ISI boosted 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. 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 data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $171.87.
Get Our Latest Stock Report on Sprouts Farmers Market
Sprouts Farmers Market Stock Down 1.5%
Shares of NASDAQ SFM opened at $148.99 on Friday. The business's 50 day moving average is $162.05 and its two-hundred day moving average is $158.73. The company has a market cap of $14.56 billion, a P/E ratio of 30.66, a P/E/G ratio of 1.68 and a beta of 0.78. Sprouts Farmers Market, Inc. has a 12 month low of $94.15 and a 12 month high of $182.00.
Sprouts Farmers Market (NASDAQ:SFM - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The company reported $1.35 EPS for the quarter, topping the consensus estimate of $1.23 by $0.12. The company had revenue of $2.22 billion for the quarter, compared to the consensus estimate of $2.16 billion. Sprouts Farmers Market had a return on equity of 36.53% and a net margin of 5.77%. The company's revenue for the quarter was up 17.3% on a year-over-year basis. During the same period in the previous year, the business posted $0.94 EPS. Sell-side analysts expect that Sprouts Farmers Market, Inc. will post 4.29 earnings per share for the current fiscal year.
Insider Buying and Selling at Sprouts Farmers Market
In other news, COO Nicholas Konat sold 20,270 shares of the business's stock in a transaction that occurred on Thursday, May 29th. The stock was sold at an average price of $167.50, for a total transaction of $3,395,225.00. Following the sale, the chief operating officer directly owned 55,675 shares in the company, valued at approximately $9,325,562.50. The trade was a 26.69% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Jack Sinclair sold 4,045 shares of the business's stock in a transaction that occurred on Monday, August 4th. The shares were sold at an average price of $156.76, for a total value of $634,094.20. Following the sale, the chief executive officer owned 174,740 shares in the company, valued at approximately $27,392,242.40. This represents a 2.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 70,725 shares of company stock valued at $11,511,003 in the last quarter. 1.10% of the stock is currently owned by corporate insiders.
About Sprouts Farmers Market
(
Free Report)
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.
Further Reading

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