Sierra Summit Advisors LLC Acquires Shares of 4,325 Sprouts Farmers Market, Inc. (NASDAQ:SFM)

Key Points

• Sierra Summit Advisors LLC has acquired 4,325 shares of Sprouts Farmers Market, Inc. (NASDAQ:SFM) valued at approximately $660,000 in the first quarter of 2023.
• Sprouts Farmers Market reported earnings of $1.35 per share, exceeding the consensus estimate of $1.23, with quarterly revenue reaching $2.22 billion, a 17.3% increase year-over-year.
• Investment analysts have a consensus rating of "Moderate Buy" for Sprouts Farmers Market, with multiple firms setting target prices between $155.00 and $190.00.

Sierra Summit Advisors LLC acquired a new stake in shares of Sprouts Farmers Market, Inc. (NASDAQ:SFM - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 4,325 shares of the company's stock, valued at approximately $660,000.

Other institutional investors also recently modified their holdings of the company. Whipplewood Advisors LLC lifted its holdings in 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. Dogwood Wealth Management LLC bought a new position in shares of Sprouts Farmers Market during the first quarter valued at approximately $30,000. GeoWealth Management LLC lifted its stake in Sprouts Farmers Market by 115.4% in the fourth quarter. GeoWealth Management LLC now owns 265 shares of the company's stock worth $34,000 after acquiring an additional 142 shares during the period. Versant Capital Management Inc boosted its holdings in Sprouts Farmers Market by 111.3% in the first quarter. Versant Capital Management Inc now owns 319 shares of the company's stock valued at $49,000 after acquiring an additional 168 shares in the last quarter. Finally, Toronto Dominion Bank purchased a new position in Sprouts Farmers Market during the 4th quarter valued at $63,000.

Sprouts Farmers Market Price Performance

SFM opened at $148.99 on Friday. The firm has a market cap of $14.56 billion, a PE ratio of 30.66, a P/E/G ratio of 1.71 and a beta of 0.78. The stock has a 50-day moving average price of $162.05 and a 200-day moving average price of $158.65. Sprouts Farmers Market, Inc. has a 1 year low of $94.15 and a 1 year high of $182.00.

Sprouts Farmers Market (NASDAQ:SFM - Get Free Report) last issued its earnings results on Wednesday, July 30th. The company reported $1.35 earnings per share (EPS) for the quarter, topping 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 in the previous year, the company earned $0.94 earnings per share. The business's revenue for the quarter was up 17.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that Sprouts Farmers Market, Inc. will post 4.29 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms have recently commented on SFM. Jefferies Financial Group raised shares of Sprouts Farmers Market from a "hold" rating to a "buy" rating and set a $190.00 target price for the company in a research report on Friday, August 1st. UBS Group set a $180.00 price target on shares of Sprouts Farmers Market in a research note on Thursday, July 31st. Wells Fargo & Company raised Sprouts Farmers Market from an "equal weight" rating to an "overweight" rating and lifted their price objective for the company from $175.00 to $180.00 in a research report on Tuesday. Evercore ISI upped 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. Finally, Roth Capital set a $155.00 target price on Sprouts Farmers Market and gave the company a "neutral" rating in a research note on Thursday, May 1st. Seven investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, Sprouts Farmers Market presently has a consensus rating of "Moderate Buy" and a consensus target price of $171.87.

Insiders Place Their Bets

In other news, insider John Scott Neal sold 17,721 shares of the company's 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 $2,281,098.42. This represents a 55.55% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Nicholas Konat sold 20,270 shares of Sprouts Farmers Market stock in a transaction dated Thursday, May 29th. The stock was sold at an average price of $167.50, for a total value of $3,395,225.00. Following the completion of the sale, the chief operating officer owned 55,675 shares of the company's stock, valued at $9,325,562.50. The trade was a 26.69% 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 worth $11,511,003 in the last three months. Corporate insiders own 1.10% of the company's stock.

Sprouts Farmers Market Company 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.

Want to see what other hedge funds are holding SFM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Sprouts Farmers Market, Inc. (NASDAQ:SFM - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.