Envestnet Portfolio Solutions Inc. Boosts Stock Position in Sprouts Farmers Market, Inc. (NASDAQ:SFM)

Envestnet Portfolio Solutions Inc. grew its holdings in shares of Sprouts Farmers Market, Inc. (NASDAQ:SFM) by 53.8% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,211 shares of the company’s stock after purchasing an additional 1,822 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Sprouts Farmers Market were worth $436,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Rise Advisors LLC purchased a new stake in Sprouts Farmers Market during the first quarter worth about $26,000. Blue Bell Private Wealth Management LLC bought a new position in shares of Sprouts Farmers Market during the 1st quarter valued at approximately $36,000. Bank Julius Baer & Co. Ltd Zurich purchased a new stake in shares of Sprouts Farmers Market during the 4th quarter worth approximately $38,000. GAMMA Investing LLC bought a new stake in shares of Sprouts Farmers Market in the 4th quarter worth approximately $43,000. Finally, ICA Group Wealth Management LLC purchased a new position in Sprouts Farmers Market in the fourth quarter valued at approximately $53,000.

Sprouts Farmers Market Trading Down 0.3 %

Sprouts Farmers Market stock opened at $97.91 on Thursday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.44 and a current ratio of 1.03. Sprouts Farmers Market, Inc. has a fifty-two week low of $37.88 and a fifty-two week high of $103.80. The stock has a market cap of $9.80 billion, a P/E ratio of 33.76, a PEG ratio of 2.81 and a beta of 0.55. The firm’s fifty day moving average price is $86.91 and its 200-day moving average price is $73.47.

Sprouts Farmers Market (NASDAQ:SFM) last announced its earnings results on Monday, July 29th. The company reported $0.94 earnings per share for the quarter, topping analysts’ consensus estimates of $0.78 by $0.16. The business had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.84 billion. Sprouts Farmers Market had a return on equity of 27.53% and a net margin of 4.52%. The company’s quarterly revenue was up 12.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.71 EPS. Equities research analysts forecast that Sprouts Farmers Market, Inc. will post 3.37 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages have issued reports on SFM. Roth Mkm boosted their target price on Sprouts Farmers Market from $58.00 to $78.00 and gave the company a “neutral” rating in a research note on Tuesday, July 30th. BMO Capital Markets raised shares of Sprouts Farmers Market from an “underperform” rating to a “market perform” rating and upped their price objective for the company from $40.00 to $102.00 in a report on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Sprouts Farmers Market from $63.00 to $76.00 and gave the stock a “hold” rating in a research note on Monday, July 29th. The Goldman Sachs Group boosted their price target on shares of Sprouts Farmers Market from $89.00 to $111.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Finally, UBS Group raised their price objective on shares of Sprouts Farmers Market from $68.00 to $94.00 and gave the stock a “neutral” rating in a report on Friday, June 28th. Eight investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $93.38.

Insider Activity at Sprouts Farmers Market

In other news, CEO Jack Sinclair sold 5,718 shares of Sprouts Farmers Market stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $77.07, for a total transaction of $440,686.26. Following the completion of the sale, the chief executive officer now directly owns 256,716 shares of the company’s stock, valued at approximately $19,785,102.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Jack Sinclair sold 5,718 shares of the firm’s stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $77.07, for a total transaction of $440,686.26. Following the transaction, the chief executive officer now directly owns 256,716 shares of the company’s stock, valued at approximately $19,785,102.12. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Stacy W. Hilgendorf sold 1,904 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $101.12, for a total value of $192,532.48. Following the completion of the sale, the vice president now owns 10,237 shares of the company’s stock, valued at approximately $1,035,165.44. The disclosure for this sale can be found here. Insiders have sold 107,096 shares of company stock valued at $10,358,446 over the last three months. 1.10% of the stock is owned by corporate insiders.

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.