Sprouts Farmers Market, Inc. $SFM Stock Position Increased by Bfsg LLC

Key Points

• Bfsg LLC increased its Sprouts Farmers Market stake by 414.3% in the third quarter, adding 43,451 shares to bring its position to 53,940 shares, valued at about $3.58 million.
• Sprouts’ latest quarterly results came in slightly below consensus: EPS was $1.21 versus $1.22 expected, and revenue was $2.30 billion versus $2.33 billion expected. Revenue still grew 4.7% year over year.
• Analyst sentiment is mixed, with a consensus “Hold” rating and an average price target of $64.77; the stock opened at $54.40. Insiders sold 35,253 shares worth about $2.52 million over the past three months.

Bfsg LLC raised its holdings in shares of Sprouts Farmers Market, Inc. (NASDAQ:SFM - Free Report) by 414.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 53,940 shares of the company's stock after acquiring an additional 43,451 shares during the period. Bfsg LLC owned approximately 0.06% of Sprouts Farmers Market worth $3,579,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of SFM. Signet Financial Management LLC acquired a new position in shares of Sprouts Farmers Market in the 1st quarter worth $2,938,000. Bank of America Corp DE acquired a new stake in shares of Sprouts Farmers Market during the second quarter valued at approximately $93,790,000. Reinhart Partners LLC. boosted its stake in Sprouts Farmers Market by 33.1% in the 3rd quarter. Reinhart Partners LLC. now owns 82,839 shares of the company's stock worth $5,496,000 after purchasing an additional 20,581 shares during the period. Kornitzer Capital Management Inc. KS purchased a new position in Sprouts Farmers Market during the 1st quarter worth approximately $3,738,000. Finally, Barrow Hanley Mewhinney & Strauss LLC acquired a new stake in Sprouts Farmers Market during the 2nd quarter valued at $131,310,000.

Sprouts Farmers Market Price Performance

NASDAQ SFM opened at $54.40 on Thursday. Sprouts Farmers Market, Inc. has a fifty-two week low of $47.35 and a fifty-two week high of $94.89. The stock's 50-day moving average is $67.86 and its two-hundred day moving average is $75.88. The firm has a market cap of $5.02 billion, a P/E ratio of 10.44, a price-to-earnings-growth ratio of 1.37 and a beta of 0.76. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.97 and a quick ratio of 0.39.

Sprouts Farmers Market (NASDAQ:SFM - Get Free Report) last issued its quarterly earnings data on Wednesday, October 28th. The company reported $1.21 earnings per share for the quarter, missing analysts' consensus estimates of $1.22 by ($0.01). The company had revenue of $2.30 billion during the quarter, compared to the consensus estimate of $2.33 billion. Sprouts Farmers Market had a net margin of 5.45% and a return on equity of 33.83%. The firm's revenue was up 4.7% on a year-over-year basis. During the same period in the previous year, the business posted $1.22 earnings per share. On average, analysts anticipate that Sprouts Farmers Market, Inc. will post 4.95 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Jack Sinclair sold 10,788 shares of Sprouts Farmers Market stock in a transaction dated Monday, October 5th. The stock was sold at an average price of $64.48, for a total value of $695,610.24. Following the transaction, the chief executive officer directly owned 269,980 shares in the company, valued at approximately $17,408,310.40. The trade was a 3.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Joseph D. O'leary sold 2,597 shares of the stock in a transaction that occurred on Friday, August 14th. The shares were sold at an average price of $82.57, for a total value of $214,434.29. Following the sale, the director owned 14,710 shares of the company's stock, valued at approximately $1,214,604.70. The trade was a 15.01% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 35,253 shares of company stock valued at $2,523,984. Company insiders own 1.30% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on SFM shares. Wells Fargo & Company reduced their target price on Sprouts Farmers Market from $100.00 to $60.00 and set an "overweight" rating for the company in a report on Thursday, October 29th. Jefferies Financial Group reduced their price objective on Sprouts Farmers Market from $95.00 to $63.00 and set a "buy" rating for the company in a research note on Monday. Evercore restated an "outperform" rating and set a $95.00 price objective on shares of Sprouts Farmers Market in a research report on Tuesday, September 1st. Deutsche Bank Aktiengesellschaft dropped their target price on Sprouts Farmers Market from $84.00 to $77.00 and set a "hold" rating on the stock in a report on Friday, September 25th. Finally, Roth Capital set a $56.00 price target on shares of Sprouts Farmers Market in a research report on Thursday, October 29th. Six investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, Sprouts Farmers Market has a consensus rating of "Hold" and a consensus target price of $64.77.

Sprouts Farmers Market Profile

Sprouts Farmers Market, Inc NASDAQ: SFM is a specialty grocery retailer focused on fresh, natural and organic foods. Its stores offer a broad selection of fresh produce, meat and seafood, dairy products, bulk foods, vitamins and supplements, pantry staples, bakery items, deli products and prepared foods. The company emphasizes products that support healthy eating, including organic, plant-based and specialty-diet options.

Founded in 2002, Sprouts Farmers Market grew from its first store in Chandler, Arizona, into a national grocery chain.

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