KLP Kapitalforvaltning AS Takes Position in Sprouts Farmers Market, Inc. (NASDAQ:SFM)

KLP Kapitalforvaltning AS purchased a new position in shares of Sprouts Farmers Market, Inc. (NASDAQ:SFM) in the fourth quarter, HoldingsChannel reports. The firm purchased 20,500 shares of the company’s stock, valued at approximately $2,605,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Wesbanco Bank Inc. lifted its stake in Sprouts Farmers Market by 0.3% during the fourth quarter. Wesbanco Bank Inc. now owns 28,659 shares of the company’s stock worth $3,642,000 after purchasing an additional 77 shares in the last quarter. EverSource Wealth Advisors LLC raised its holdings in shares of Sprouts Farmers Market by 4.1% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,975 shares of the company’s stock valued at $251,000 after buying an additional 77 shares during the period. Greenleaf Trust lifted its stake in Sprouts Farmers Market by 1.2% during the 4th quarter. Greenleaf Trust now owns 6,715 shares of the company’s stock worth $853,000 after acquiring an additional 80 shares in the last quarter. Foundations Investment Advisors LLC boosted its holdings in Sprouts Farmers Market by 1.4% during the 4th quarter. Foundations Investment Advisors LLC now owns 6,649 shares of the company’s stock valued at $845,000 after acquiring an additional 90 shares during the period. Finally, Ballentine Partners LLC boosted its holdings in Sprouts Farmers Market by 2.6% during the 4th quarter. Ballentine Partners LLC now owns 3,849 shares of the company’s stock valued at $489,000 after acquiring an additional 96 shares during the period.

Analyst Ratings Changes

SFM has been the topic of several research reports. JPMorgan Chase & Co. increased their price target on shares of Sprouts Farmers Market from $131.00 to $136.00 and gave the stock a “neutral” rating in a research report on Tuesday, March 11th. Wells Fargo & Company raised their price target on shares of Sprouts Farmers Market from $140.00 to $170.00 and gave the company an “equal weight” 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 on the stock in a research report on Friday, February 28th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $160.00 target price on shares of Sprouts Farmers Market in a report on Tuesday. Finally, Roth Mkm boosted their target price on Sprouts Farmers Market from $105.00 to $146.00 and gave the stock a “neutral” rating in a research note on Friday, February 21st. Ten equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $167.00.

Insider Activity

In other Sprouts Farmers Market news, VP Stacy W. Hilgendorf sold 229 shares of the firm’s stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $139.43, for a total transaction of $31,929.47. Following the transaction, the vice president now directly owns 10,226 shares of the company’s stock, valued at approximately $1,425,811.18. This trade represents a 2.19 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Nicholas Konat sold 11,283 shares of the company’s stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $143.13, for a total transaction of $1,614,935.79. Following the completion of the sale, the chief operating officer now directly owns 55,675 shares of the company’s stock, valued at $7,968,762.75. The trade was a 16.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 94,784 shares of company stock valued at $13,231,786. Insiders own 1.10% of the company’s stock.

Sprouts Farmers Market Stock Performance

Shares of Sprouts Farmers Market stock opened at $149.78 on Thursday. The firm’s 50 day moving average is $151.44 and its two-hundred day moving average is $136.79. Sprouts Farmers Market, Inc. has a 52 week low of $61.61 and a 52 week high of $178.99. 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 firm has a market capitalization of $14.68 billion, a P/E ratio of 39.84, a P/E/G ratio of 2.31 and a beta of 0.67.

Sprouts Farmers Market (NASDAQ:SFM) last announced its quarterly earnings results on Thursday, February 20th. The company reported $0.79 earnings per share for the quarter, beating analysts’ consensus estimates of $0.72 by $0.07. Sprouts Farmers Market had a net margin of 4.93% and a return on equity of 29.86%. The firm had revenue of $2 billion during the quarter, compared to analysts’ expectations of $1.96 billion. Research analysts forecast 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.