Portside Wealth Group LLC Has $367,000 Stake in Sprouts Farmers Market, Inc. (NASDAQ:SFM)

Portside Wealth Group LLC reduced its holdings in Sprouts Farmers Market, Inc. (NASDAQ:SFM - Free Report) by 54.2% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,407 shares of the company's stock after selling 2,849 shares during the quarter. Portside Wealth Group LLC's holdings in Sprouts Farmers Market were worth $367,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. HighTower Advisors LLC lifted its holdings in Sprouts Farmers Market by 55.0% during the 4th quarter. HighTower Advisors LLC now owns 20,722 shares of the company's stock valued at $2,633,000 after purchasing an additional 7,355 shares during the last quarter. Unified Investment Management acquired a new position in Sprouts Farmers Market in the fourth quarter valued at about $1,161,000. Wells Fargo & Company MN grew its holdings in shares of Sprouts Farmers Market by 26.2% in 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 period. Andrew Hill Investment Advisors Inc. raised its holdings in Sprouts Farmers Market by 145.8% during the 4th quarter. Andrew Hill Investment Advisors Inc. now owns 20,342 shares of the company's stock worth $2,585,000 after buying an additional 12,067 shares during the period. Finally, Caisse DE Depot ET Placement DU Quebec bought a new position in shares of Sprouts Farmers Market during the fourth quarter worth about $2,618,000.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Northcoast Research raised shares of Sprouts Farmers Market from a "neutral" rating to a "buy" rating and set a $185.00 price target on the stock in a research report on Friday, February 28th. Royal Bank of Canada lifted their price target on Sprouts Farmers Market from $160.00 to $172.00 and gave the stock a "sector perform" rating in a report on Thursday, May 1st. Roth Capital set a $155.00 price objective on Sprouts Farmers Market and gave the company a "neutral" rating in a research report on Thursday, May 1st. BMO Capital Markets boosted their target price on Sprouts Farmers Market from $140.00 to $180.00 and gave the stock a "market perform" rating in a report on Friday, February 21st. Finally, Wells Fargo & Company upped 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 report on Thursday, May 1st. Nine research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $167.79.

Sprouts Farmers Market Stock Performance

Shares of SFM stock traded down $3.71 during mid-day trading on Thursday, hitting $156.19. The stock had a trading volume of 638,812 shares, compared to its average volume of 1,455,225. The firm has a market cap of $15.28 billion, a PE ratio of 41.54, a PEG ratio of 2.31 and a beta of 0.81. The company's 50-day simple moving average is $163.69 and its 200-day simple moving average is $152.91. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.13 and a quick ratio of 0.59. Sprouts Farmers Market, Inc. has a fifty-two week low of $74.15 and a fifty-two week high of $182.00.

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

Insider Activity

In other Sprouts Farmers Market news, CEO Jack Sinclair sold 49,898 shares of the company's stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $137.42, for a total transaction of $6,856,983.16. Following the completion of the transaction, the chief executive officer now owns 189,449 shares of the company's stock, valued at $26,034,081.58. This represents a 20.85% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CMO Alisa Gmelich sold 445 shares of Sprouts Farmers Market stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $137.42, for a total value of $61,151.90. Following the completion of the sale, the chief marketing officer now directly owns 4,436 shares in the company, valued at approximately $609,595.12. This represents a 9.12% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 145,825 shares of company stock worth $21,813,320. 1.10% of the stock is currently owned by insiders.

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.