CIBC Asset Management Inc Purchases 101 Shares of Sprouts Farmers Market, Inc. (NASDAQ:SFM)

CIBC Asset Management Inc grew its holdings in Sprouts Farmers Market, Inc. (NASDAQ:SFM) by 3.6% in the third quarter, HoldingsChannel reports. The fund owned 2,917 shares of the company’s stock after buying an additional 101 shares during the period. CIBC Asset Management Inc’s holdings in Sprouts Farmers Market were worth $322,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also modified their holdings of the company. OneDigital Investment Advisors LLC acquired a new position in Sprouts Farmers Market during the third quarter worth about $207,000. KBC Group NV grew its holdings in shares of Sprouts Farmers Market by 11.3% during the 3rd quarter. KBC Group NV now owns 2,566 shares of the company’s stock valued at $283,000 after purchasing an additional 261 shares during the last quarter. Oppenheimer & Co. Inc. increased its position in Sprouts Farmers Market by 90.3% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 14,071 shares of the company’s stock worth $1,554,000 after purchasing an additional 6,675 shares in the last quarter. Oppenheimer Asset Management Inc. lifted its stake in Sprouts Farmers Market by 34.1% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 4,462 shares of the company’s stock valued at $493,000 after purchasing an additional 1,135 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. acquired a new stake in Sprouts Farmers Market in the third quarter valued at approximately $1,942,000.

Insider Transactions at Sprouts Farmers Market

In related news, Director Kristen E. Blum sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $100.00, for a total transaction of $200,000.00. Following the completion of the sale, the director now directly owns 51,627 shares of the company’s stock, valued at approximately $5,162,700. This trade represents a 3.73 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Dustin Hamilton sold 5,097 shares of the business’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $102.00, for a total transaction of $519,894.00. Following the completion of the sale, the insider now directly owns 26,138 shares of the company’s stock, valued at approximately $2,666,076. This trade represents a 16.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 50,148 shares of company stock valued at $5,853,826 over the last quarter. 1.10% of the stock is currently owned by company insiders.

Sprouts Farmers Market Stock Performance

Sprouts Farmers Market stock opened at $145.89 on Friday. The stock’s 50 day moving average is $120.80 and its 200 day moving average is $98.40. The company has a market capitalization of $14.59 billion, a P/E ratio of 42.16, a PEG ratio of 2.17 and a beta of 0.54. Sprouts Farmers Market, Inc. has a twelve month low of $40.62 and a twelve month high of $148.56. The company has a quick ratio of 0.59, a current ratio of 1.13 and a debt-to-equity ratio of 0.01.

Sprouts Farmers Market (NASDAQ:SFM) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.77 by $0.14. The firm had revenue of $1.95 billion during the quarter, compared to analyst estimates of $1.88 billion. Sprouts Farmers Market had a net margin of 4.73% and a return on equity of 28.24%. The business’s revenue for the quarter was up 13.6% on a year-over-year basis. During the same period in the previous year, the business posted $0.65 earnings per share. On average, equities research analysts predict that Sprouts Farmers Market, Inc. will post 3.68 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have recently commented on SFM. Bank of America increased their price target on Sprouts Farmers Market from $115.00 to $135.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Royal Bank of Canada started coverage on Sprouts Farmers Market in a research note on Thursday, September 12th. They set a “sector perform” rating and a $107.00 price target on the stock. StockNews.com downgraded Sprouts Farmers Market from a “buy” rating to a “hold” rating in a research note on Wednesday. BMO Capital Markets lifted their target price on shares of Sprouts Farmers Market from $102.00 to $140.00 and gave the stock a “market perform” rating in a research report on Thursday, October 31st. Finally, The Goldman Sachs Group upped their price target on shares of Sprouts Farmers Market from $127.00 to $159.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Nine equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $115.40.

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.