Sprouts Farmers Market, Inc. $SFM Shares Sold by Assenagon Asset Management S.A.

Key Points

• Assenagon Asset Management S.A. significantly reduced its holdings in Sprouts Farmers Market, selling 700,491 shares, a decrease of 47.4%, which left them with approximately 0.79% of the company's stock valued at $127.7 million.
• Sprouts Farmers Market reported a $1.35 EPS for the quarter, exceeding analyst expectations, with a revenue increase of 17.3% year-over-year, totaling $2.22 billion.
• Several financial firms upgraded their ratings for Sprouts Farmers Market, with a consensus price target now set at $173.73, highlighting a positive outlook amidst ongoing share repurchases.

Assenagon Asset Management S.A. decreased its position in Sprouts Farmers Market, Inc. (NASDAQ:SFM - Free Report) by 47.4% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 775,860 shares of the company's stock after selling 700,491 shares during the period. Assenagon Asset Management S.A. owned approximately 0.79% of Sprouts Farmers Market worth $127,738,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of SFM. Wellington Management Group LLP raised its holdings in Sprouts Farmers Market by 300.3% in the 1st quarter. Wellington Management Group LLP now owns 1,037,187 shares of the company's stock valued at $158,316,000 after acquiring an additional 778,079 shares during the period. Nuveen LLC acquired a new stake in Sprouts Farmers Market in the first quarter valued at approximately $106,852,000. Westfield Capital Management Co. LP bought a new position in shares of Sprouts Farmers Market during the first quarter valued at $71,699,000. Alyeska Investment Group L.P. bought a new position in shares of Sprouts Farmers Market during the first quarter valued at $55,711,000. Finally, GAMMA Investing LLC raised its stake in Sprouts Farmers Market by 18,234.0% during the first quarter. GAMMA Investing LLC now owns 358,246 shares of the company's stock worth $54,683,000 after buying an additional 356,292 shares during the last quarter.

Insiders Place Their Bets

In related news, Director Joseph D. O'leary sold 2,937 shares of the company's stock in a transaction on Tuesday, August 5th. The stock was sold at an average price of $150.07, for a total transaction of $440,755.59. Following the transaction, 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Jack Sinclair sold 4,045 shares of the business's stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $138.60, for a total value of $560,637.00. Following the sale, the chief executive officer owned 174,740 shares in the company, valued at approximately $24,218,964. The trade was a 2.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 39,561 shares of company stock valued at $5,828,401. 1.10% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research firms have weighed in on SFM. 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 research note on Friday, August 1st. JPMorgan Chase & Co. assumed coverage on shares of Sprouts Farmers Market in a report on Wednesday, August 20th. They set a "neutral" rating and a $159.00 price target on the stock. UBS Group set a $180.00 price target on shares of Sprouts Farmers Market in a research report on Thursday, July 31st. Wells Fargo & Company raised shares of Sprouts Farmers Market from an "equal weight" rating to an "overweight" rating and upped their target price for the stock from $175.00 to $180.00 in a report on Tuesday, August 5th. Finally, Evercore ISI cut their price objective on shares of Sprouts Farmers Market from $195.00 to $190.00 and set an "outperform" rating for the company in a research note on Tuesday, August 12th. Eight investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $178.64.

Sprouts Farmers Market Trading Down 0.4%

Sprouts Farmers Market stock traded down $0.49 during mid-day trading on Tuesday, hitting $119.10. The company had a trading volume of 459,565 shares, compared to its average volume of 1,753,752. Sprouts Farmers Market, Inc. has a 12-month low of $107.36 and a 12-month high of $182.00. The company's fifty day moving average is $146.53 and its 200-day moving average is $154.72. The company has a market capitalization of $11.64 billion, a price-to-earnings ratio of 24.42, a P/E/G ratio of 1.36 and a beta of 0.87.

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 analysts' consensus estimates of $1.23 by $0.12. The business had revenue of $2.22 billion during 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 last year, the company earned $0.94 EPS. Sprouts Farmers Market has set its FY 2025 guidance at 5.200-5.320 EPS. Q3 2025 guidance at 1.120-1.160 EPS. As a group, sell-side analysts expect that Sprouts Farmers Market, Inc. will post 4.29 EPS for the current fiscal year.

Sprouts Farmers Market declared that its board has authorized a stock buyback program on Tuesday, August 19th that allows the company to buyback $0.00 in outstanding shares. This buyback authorization allows the company to purchase shares of its stock through open market purchases. Stock buyback programs are usually a sign that the company's management believes its stock is undervalued.

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.