Beacon Harbor Wealth Advisors Inc. Decreases Stake in Sprouts Farmers Market, Inc. (NASDAQ:SFM)

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. lessened its holdings in Sprouts Farmers Market, Inc. (NASDAQ:SFM - Free Report) by 4.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 55,565 shares of the company's stock after selling 2,578 shares during the quarter. Sprouts Farmers Market accounts for approximately 2.0% of Beacon Harbor Wealth Advisors Inc.'s investment portfolio, making the stock its 13th biggest holding. Beacon Harbor Wealth Advisors Inc. owned 0.06% of Sprouts Farmers Market worth $8,481,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in SFM. Whipplewood Advisors LLC lifted its position in shares of Sprouts Farmers Market by 92.0% during the 1st quarter. Whipplewood Advisors LLC now owns 192 shares of the company's stock valued at $29,000 after acquiring an additional 92 shares during the period. Dogwood Wealth Management LLC bought a new stake in Sprouts Farmers Market during the first quarter worth about $30,000. GeoWealth Management LLC grew its stake in Sprouts Farmers Market by 115.4% during the fourth quarter. GeoWealth Management LLC now owns 265 shares of the company's stock worth $34,000 after buying an additional 142 shares in the last quarter. Versant Capital Management Inc increased its holdings in Sprouts Farmers Market by 111.3% in the 1st 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 period. Finally, Toronto Dominion Bank acquired a new position in shares of Sprouts Farmers Market in the 4th quarter valued at approximately $63,000.

Wall Street Analyst Weigh In

Several analysts recently issued reports on SFM shares. Royal Bank Of Canada increased their price target on shares of Sprouts Farmers Market from $173.00 to $176.00 and gave the stock a "sector perform" rating in a research report on Thursday, July 31st. Wells Fargo & Company raised Sprouts Farmers Market from an "equal weight" rating to an "overweight" rating and raised their target price for the company from $175.00 to $180.00 in a report on Tuesday, August 5th. Evercore ISI boosted their price target on Sprouts Farmers Market from $180.00 to $185.00 and gave the stock an "outperform" rating in a report on Thursday, May 1st. Barclays upgraded Sprouts Farmers Market from an "equal weight" rating to an "overweight" rating and upped their price objective for the stock from $173.00 to $185.00 in a research report on Thursday, July 31st. Finally, Wall Street Zen upgraded Sprouts Farmers Market from a "hold" rating to a "buy" rating in a research report on Wednesday, April 23rd. Seven 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, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $171.87.

Insider Buying and Selling at Sprouts Farmers Market

In other Sprouts Farmers Market news, insider Timmi Zalatoris sold 2,000 shares of the business's stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $164.38, for a total value of $328,760.00. Following the transaction, the insider directly owned 13,263 shares of the company's stock, valued at approximately $2,180,171.94. The trade was a 13.10% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Joseph D. O'leary sold 2,937 shares of Sprouts Farmers Market stock in a transaction on 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 of the company's stock, valued at $2,250,149.58. This represents a 16.38% 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 valued at $11,511,003 over the last ninety days. Insiders own 1.10% of the company's stock.

Sprouts Farmers Market Trading Down 0.1%

NASDAQ:SFM traded down $0.20 during trading hours on Monday, hitting $148.79. 340,678 shares of the company were exchanged, compared to its average volume of 1,731,363. The stock has a market capitalization of $14.54 billion, a price-to-earnings ratio of 30.62, a price-to-earnings-growth ratio of 1.68 and a beta of 0.78. Sprouts Farmers Market, Inc. has a one year low of $94.68 and a one year high of $182.00. The company has a fifty day simple moving average of $162.05 and a 200 day simple moving average of $158.82.

Sprouts Farmers Market (NASDAQ:SFM - Get Free Report) last released its earnings results on Wednesday, July 30th. The company reported $1.35 earnings per share (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 for the quarter, compared to analyst estimates of $2.16 billion. During the same quarter in the previous year, the business earned $0.94 earnings per share. Sprouts Farmers Market's revenue for the quarter was up 17.3% on a year-over-year basis. Equities research analysts predict that Sprouts Farmers Market, Inc. will post 4.29 earnings per share for the current fiscal year.

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.