JPMorgan Chase & Co. Raises Stock Position in Sprouts Farmers Market, Inc. (NASDAQ:SFM)

JPMorgan Chase & Co. raised its holdings in shares of Sprouts Farmers Market, Inc. (NASDAQ:SFM) by 13.1% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,349,694 shares of the company’s stock after acquiring an additional 156,175 shares during the quarter. JPMorgan Chase & Co. owned approximately 1.35% of Sprouts Farmers Market worth $149,020,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the business. DGS Capital Management LLC grew its position in shares of Sprouts Farmers Market by 18.4% during the third quarter. DGS Capital Management LLC now owns 4,827 shares of the company’s stock valued at $533,000 after purchasing an additional 749 shares in the last quarter. Franklin Resources Inc. grew its holdings in Sprouts Farmers Market by 25.8% during the 3rd quarter. Franklin Resources Inc. now owns 464,366 shares of the company’s stock valued at $53,551,000 after buying an additional 95,144 shares in the last quarter. Tidal Investments LLC increased its stake in Sprouts Farmers Market by 6.7% in the 3rd quarter. Tidal Investments LLC now owns 53,816 shares of the company’s stock worth $5,942,000 after acquiring an additional 3,372 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in shares of Sprouts Farmers Market during the 3rd quarter worth approximately $155,000. Finally, Sfmg LLC bought a new position in shares of Sprouts Farmers Market during the 3rd quarter valued at approximately $234,000.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on SFM. Bank of America boosted their price target on shares of Sprouts Farmers Market from $115.00 to $135.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. Evercore ISI upped their price objective on Sprouts Farmers Market from $155.00 to $160.00 and gave the company an “outperform” rating in a research report on Tuesday, December 3rd. Royal Bank of Canada assumed coverage on Sprouts Farmers Market in a report on Thursday, September 12th. They issued a “sector perform” rating and a $107.00 target price for the company. BMO Capital Markets increased their price target on Sprouts Farmers Market from $102.00 to $140.00 and gave the company a “market perform” rating in a report on Thursday, October 31st. Finally, Melius Research initiated coverage on shares of Sprouts Farmers Market in a research note on Monday, September 23rd. They set a “hold” rating and a $105.00 price objective for the company. Eight equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $118.40.

Sprouts Farmers Market Stock Down 0.2 %

Shares of SFM opened at $127.07 on Wednesday. The firm has a fifty day moving average price of $139.12 and a 200-day moving average price of $111.83. The company has a current ratio of 1.13, a quick ratio of 0.59 and a debt-to-equity ratio of 0.01. The firm has a market capitalization of $12.71 billion, a P/E ratio of 36.73, a P/E/G ratio of 2.23 and a beta of 0.58. Sprouts Farmers Market, Inc. has a 12-month low of $47.82 and a 12-month high of $155.64.

Sprouts Farmers Market (NASDAQ:SFM) last issued its 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 business had revenue of $1.95 billion for the quarter, compared to the consensus estimate of $1.88 billion. Sprouts Farmers Market had a net margin of 4.73% and a return on equity of 28.24%. The company’s revenue for the quarter was up 13.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.65 EPS. Equities research analysts expect that Sprouts Farmers Market, Inc. will post 3.68 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Jack Sinclair sold 5,714 shares of the business’s stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $112.41, for a total value of $642,310.74. Following the completion of the sale, the chief executive officer now owns 211,004 shares in the company, valued at approximately $23,718,959.64. The trade was a 2.64 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Joseph D. O’leary sold 350 shares of the company’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $150.11, for a total transaction of $52,538.50. Following the completion of the sale, the director now directly owns 17,991 shares of the company’s stock, valued at $2,700,629.01. The trade was a 1.91 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 65,569 shares of company stock worth $9,117,886. 1.10% of the stock is currently owned by company 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.