Sumitomo Mitsui Trust Group Inc. Buys 6,550 Shares of Sprouts Farmers Market, Inc. (NASDAQ:SFM)

Sumitomo Mitsui Trust Group Inc. lifted its position in shares of Sprouts Farmers Market, Inc. (NASDAQ:SFM - Free Report) by 33.6% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 26,073 shares of the company's stock after purchasing an additional 6,550 shares during the quarter. Sumitomo Mitsui Trust Group Inc.'s holdings in Sprouts Farmers Market were worth $3,980,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in the company. US Bancorp DE boosted its holdings in Sprouts Farmers Market by 97.7% in the fourth quarter. US Bancorp DE now owns 14,890 shares of the company's stock worth $1,892,000 after acquiring an additional 7,357 shares in the last quarter. Smartleaf Asset Management LLC boosted its holdings in Sprouts Farmers Market by 29.8% in the fourth quarter. Smartleaf Asset Management LLC now owns 549 shares of the company's stock worth $70,000 after acquiring an additional 126 shares in the last quarter. Jones Financial Companies Lllp boosted its holdings in Sprouts Farmers Market by 481.5% in the fourth quarter. Jones Financial Companies Lllp now owns 2,855 shares of the company's stock worth $363,000 after acquiring an additional 2,364 shares in the last quarter. SBI Securities Co. Ltd. bought a new stake in Sprouts Farmers Market in the fourth quarter worth $51,000. Finally, Steward Partners Investment Advisory LLC boosted its holdings in Sprouts Farmers Market by 30.4% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 2,074 shares of the company's stock worth $264,000 after acquiring an additional 484 shares in the last quarter.

Insider Transactions at Sprouts Farmers Market

In other news, insider John Scott Neal sold 17,721 shares of the company's stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $160.89, for a total value of $2,851,131.69. Following the completion of the transaction, the insider 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 transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Kim Coffin sold 3,643 shares of the company's stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $174.27, for a total value of $634,865.61. Following the completion of the transaction, the senior vice president directly owned 11,886 shares of the company's stock, valued at approximately $2,071,373.22. This trade represents a 23.46% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 72,905 shares of company stock valued at $11,990,011. 1.10% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. Deutsche Bank Aktiengesellschaft raised Sprouts Farmers Market from a "hold" rating to a "buy" rating and boosted their target price for the stock from $163.00 to $190.00 in a report on Monday, March 17th. Evercore ISI boosted 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. JPMorgan Chase & Co. boosted their target price on Sprouts Farmers Market from $131.00 to $136.00 and gave the stock a "neutral" rating in a report on Tuesday, March 11th. Royal Bank Of Canada upped their price target on Sprouts Farmers Market from $160.00 to $172.00 and gave the company a "sector perform" rating in a report on Thursday, May 1st. Finally, Wells Fargo & Company upped their price target on Sprouts Farmers Market from $170.00 to $175.00 and gave the company an "equal weight" rating in a report on Thursday, May 1st. Nine research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, Sprouts Farmers Market currently has an average rating of "Hold" and a consensus target price of $167.79.

Sprouts Farmers Market Stock Performance

Sprouts Farmers Market stock traded up $2.70 during mid-day trading on Friday, reaching $162.60. 1,053,884 shares of the stock traded hands, compared to its average volume of 1,562,789. The stock has a market capitalization of $15.91 billion, a PE ratio of 36.54, a price-to-earnings-growth ratio of 2.03 and a beta of 0.77. The company has a debt-to-equity ratio of 0.01, a current ratio of 0.95 and a quick ratio of 0.51. Sprouts Farmers Market, Inc. has a 12-month low of $79.34 and a 12-month high of $182.00. The business's 50-day moving average is $165.46 and its 200-day moving average is $154.48.

Sprouts Farmers Market (NASDAQ:SFM - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The company reported $1.81 EPS for the quarter, topping analysts' consensus estimates of $1.54 by $0.27. The business had revenue of $2.24 billion during the quarter, compared to analysts' expectations of $2.20 billion. Sprouts Farmers Market had a return on equity of 34.20% and a net margin of 5.53%. The business's quarterly revenue was up 18.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.12 earnings per share. As a group, sell-side analysts predict that Sprouts Farmers Market, Inc. will post 4.29 EPS 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.