Summit Global Investments Buys Shares of 7,770 Sprouts Farmers Market, Inc. (NASDAQ:SFM)

Summit Global Investments purchased a new position in shares of Sprouts Farmers Market, Inc. (NASDAQ:SFM - Free Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 7,770 shares of the company's stock, valued at approximately $1,186,000.

Other hedge funds also recently bought and sold shares of the company. Norges Bank purchased a new stake in shares of Sprouts Farmers Market during the fourth quarter worth $143,113,000. Congress Asset Management Co. boosted its stake in Sprouts Farmers Market by 94.9% during the fourth quarter. Congress Asset Management Co. now owns 1,298,768 shares of the company's stock worth $165,034,000 after buying an additional 632,523 shares during the period. Wealthfront Advisers LLC purchased a new position in Sprouts Farmers Market during the fourth quarter worth about $64,117,000. Leigh Baldwin & CO. LLC purchased a new position in Sprouts Farmers Market during the fourth quarter worth about $53,946,000. Finally, GAMMA Investing LLC grew its stake in shares of Sprouts Farmers Market by 18,234.0% in the first quarter. GAMMA Investing LLC now owns 358,246 shares of the company's stock valued at $54,683,000 after buying an additional 356,292 shares in the last quarter.

Wall Street Analysts Forecast Growth

SFM has been the subject of a number of research reports. UBS Group lifted their price objective on Sprouts Farmers Market from $195.00 to $196.00 and gave the company a "neutral" rating in a research note on Thursday, May 1st. The Goldman Sachs Group upped their price objective on Sprouts Farmers Market from $174.00 to $200.00 and gave the stock a "buy" rating in a research report on Friday, February 21st. Northcoast Research raised Sprouts Farmers Market from a "neutral" rating to a "buy" rating and set a $185.00 price objective for the company in a research report on Friday, February 28th. Wall Street Zen raised Sprouts Farmers Market from a "hold" rating to a "buy" rating in a research report on Wednesday, April 23rd. Finally, Roth Mkm upped their price objective on Sprouts Farmers Market from $105.00 to $146.00 and gave the stock a "neutral" rating in a research report on Friday, February 21st. Nine equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, Sprouts Farmers Market presently has an average rating of "Hold" and an average price target of $167.79.

Sprouts Farmers Market Stock Performance

SFM traded down $4.32 on Tuesday, hitting $175.21. 1,873,800 shares of the company traded hands, compared to its average volume of 1,454,275. The company has a 50 day moving average of $161.49 and a 200-day moving average of $151.90. The company has a quick ratio of 0.59, a current ratio of 1.13 and a debt-to-equity ratio of 0.01. The stock has a market capitalization of $17.15 billion, a PE ratio of 46.60, a PEG ratio of 2.31 and a beta of 0.87. Sprouts Farmers Market, Inc. has a 12-month low of $74.15 and a 12-month high of $181.92.

Sprouts Farmers Market (NASDAQ:SFM - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The company reported $1.81 EPS for the quarter, beating the consensus estimate of $1.54 by $0.27. The firm had revenue of $2.24 billion during the quarter, compared to the consensus estimate of $2.20 billion. Sprouts Farmers Market had a return on equity of 29.86% and a net margin of 4.93%. The firm's revenue was up 18.7% compared to the same quarter last year. During the same period in the prior year, the business earned $1.12 EPS. Sell-side analysts anticipate that Sprouts Farmers Market, Inc. will post 4.29 earnings per share for the current year.

Insider Buying and Selling at Sprouts Farmers Market

In other Sprouts Farmers Market news, insider Timmi Zalatoris sold 1,065 shares of the business's stock in a transaction on Friday, March 14th. The shares were sold at an average price of $134.97, for a total transaction of $143,743.05. Following the sale, the insider now directly owns 9,830 shares in the company, valued at approximately $1,326,755.10. The trade was a 9.78% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jack Sinclair sold 49,898 shares of the firm's stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $137.42, for a total value of $6,856,983.16. Following the completion of the transaction, the chief executive officer now directly owns 189,449 shares of the company's stock, valued at $26,034,081.58. The trade was a 20.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 149,547 shares of company stock valued at $22,307,280 in the last ninety days. Insiders own 1.10% of the company's stock.

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.