Sprouts Farmers Market, Inc. (NASDAQ:SFM) Shares Sold by Beacon Harbor Wealth Advisors Inc.

Key Points

• Beacon Harbor Wealth Advisors Inc. reduced its stake in Sprouts Farmers Market by 4.4%, now holding 55,565 shares valued at approximately $8.48 million.
• Analysts have upgraded Sprouts Farmers Market with multiple "buy" ratings and a consensus price target of $171.87, indicating anticipated growth.
• The company's earnings report showed a 17.3% year-over-year revenue increase, with EPS beating estimates at $1.35 compared to the expected $1.23.

Beacon Harbor Wealth Advisors Inc. trimmed its holdings in Sprouts Farmers Market, Inc. (NASDAQ:SFM - Free Report) by 4.4% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 55,565 shares of the company's stock after selling 2,578 shares during the period. Sprouts Farmers Market accounts for approximately 2.0% of Beacon Harbor Wealth Advisors Inc.'s portfolio, making the stock its 13th largest position. Beacon Harbor Wealth Advisors Inc. owned about 0.06% of Sprouts Farmers Market worth $8,481,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Whipplewood Advisors LLC raised its holdings in shares of Sprouts Farmers Market by 92.0% in the first quarter. Whipplewood Advisors LLC now owns 192 shares of the company's stock valued at $29,000 after buying an additional 92 shares during the last quarter. Dogwood Wealth Management LLC purchased a new stake in shares of Sprouts Farmers Market in the first quarter valued at about $30,000. GeoWealth Management LLC raised its holdings in shares of Sprouts Farmers Market by 115.4% in the fourth quarter. GeoWealth Management LLC now owns 265 shares of the company's stock valued at $34,000 after buying an additional 142 shares during the last quarter. Versant Capital Management Inc raised its holdings in shares of 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 buying an additional 168 shares during the last quarter. Finally, Toronto Dominion Bank purchased a new stake in shares of Sprouts Farmers Market in the fourth quarter valued at about $63,000.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Jefferies Financial Group raised shares of 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. 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. Wall Street Zen upgraded shares of Sprouts Farmers Market from a "hold" rating to a "buy" rating in a research report on Wednesday, April 23rd. Barclays upgraded shares of Sprouts Farmers Market from an "equal weight" rating to an "overweight" rating and upped their target price for the stock from $173.00 to $185.00 in a research report on Thursday, July 31st. Finally, Wells Fargo & Company upgraded shares of Sprouts Farmers Market from an "equal weight" rating to an "overweight" rating and increased their price target for the company from $175.00 to $180.00 in a research report on Tuesday. Seven investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $171.87.

Sprouts Farmers Market Stock Up 1.0%

Sprouts Farmers Market stock opened at $150.75 on Thursday. The firm has a 50-day moving average price of $162.87 and a two-hundred day moving average price of $158.55. The firm has a market capitalization of $14.73 billion, a price-to-earnings ratio of 31.02, a PEG ratio of 1.68 and a beta of 0.78. Sprouts Farmers Market, Inc. has a 52-week low of $93.42 and a 52-week high of $182.00.

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, beating 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 analyst estimates of $2.16 billion. During the same period in the prior year, the business earned $0.94 earnings per share. The business's quarterly revenue was up 17.3% on a year-over-year basis. Research analysts expect that Sprouts Farmers Market, Inc. will post 4.29 earnings per share for the current year.

Insider Activity at Sprouts Farmers Market

In related news, Director Joseph D. O'leary sold 2,937 shares of the stock in a transaction dated Tuesday, August 5th. The shares were sold at an average price of $150.07, for a total transaction of $440,755.59. Following the completion of the sale, the director owned 14,994 shares in the company, valued at $2,250,149.58. This trade represents a 16.38% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Jack Sinclair sold 4,054 shares of the firm's stock in a transaction dated Monday, June 16th. The shares were sold at an average price of $160.45, for a total transaction of $650,464.30. Following the completion of the sale, the chief executive officer owned 174,740 shares of the company's stock, valued at $28,037,033. The trade was a 2.27% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 70,725 shares of company stock worth $11,511,003 over the last quarter. 1.10% of the stock is currently owned by corporate insiders.

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.

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