Envestnet Asset Management Inc. Sells 86,142 Shares of Sprouts Farmers Market, Inc. (NASDAQ:SFM) (2024)

Envestnet Asset Management Inc. trimmed its position in Sprouts Farmers Market, Inc. (NASDAQ:SFM - Free Report) by 53.2% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 75,788 shares of the company's stock after selling 86,142 shares during the period. Envestnet Asset Management Inc. owned about 0.07% of Sprouts Farmers Market worth $3,244,000 as of its most recent SEC filing.

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Other institutional investors and hedge funds have also recently modified their holdings of the company. Jones Financial Companies Lllp bought a new position in shares of Sprouts Farmers Market during the 2nd quarter valued at approximately $32,000. Canada Pension Plan Investment Board bought a new position in shares of Sprouts Farmers Market during the 1st quarter valued at approximately $35,000. Ronald Blue Trust Inc. boosted its holdings in Sprouts Farmers Market by 80.3% in the 3rd quarter. Ronald Blue Trust Inc. now owns 831 shares of the company's stock worth $36,000 after buying an additional 370 shares during the period. Covestor Ltd boosted its holdings in Sprouts Farmers Market by 13,150.0% in the 2nd quarter. Covestor Ltd now owns 1,060 shares of the company's stock worth $39,000 after buying an additional 1,052 shares during the period. Finally, FinTrust Capital Advisors LLC bought a new position in Sprouts Farmers Market in the 3rd quarter worth approximately $49,000.

Analyst Ratings Changes

SFM has been the subject of several analyst reports. Bank of America raised shares of Sprouts Farmers Market from an "underperform" rating to a "buy" rating and raised their price objective for the stock from $30.00 to $70.00 in a report on Tuesday, February 27th. StockNews.com cut shares of Sprouts Farmers Market from a "buy" rating to a "hold" rating in a research note on Sunday, December 3rd. Evercore ISI increased their target price on shares of Sprouts Farmers Market from $48.00 to $50.00 and gave the stock an "in-line" rating in a research note on Friday, February 23rd. Finally, The Goldman Sachs Group increased their target price on shares of Sprouts Farmers Market from $56.00 to $71.00 and gave the stock a "buy" rating in a research note on Tuesday, March 5th. Five investment analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $49.57.

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Read Our Latest Report on SFM

Insider Buying and Selling

In related news, insider Brandon F. Lombardi sold 22,799 shares of Sprouts Farmers Market stock in a transaction on Monday, February 26th. The shares were sold at an average price of $59.98, for a total value of $1,367,484.02. Following the transaction, the insider now owns 8,328 shares in the company, valued at approximately $499,513.44. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Sprouts Farmers Market news, insider Brandon F. Lombardi sold 22,799 shares of the firm's stock in a transaction on Monday, February 26th. The shares were sold at an average price of $59.98, for a total value of $1,367,484.02. Following the sale, the insider now owns 8,328 shares of the company's stock, valued at approximately $499,513.44. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Joe Fortunato sold 13,000 shares of the firm's stock in a transaction on Monday, March 4th. The stock was sold at an average price of $63.71, for a total transaction of $828,230.00. Following the completion of the sale, the director now directly owns 39,395 shares in the company, valued at approximately $2,509,855.45. The disclosure for this sale can be found here. Insiders have sold a total of 43,438 shares of company stock worth $2,671,125 in the last 90 days. 1.20% of the stock is owned by company insiders.

Sprouts Farmers Market Stock Performance

• Sprouts Farmers Market Stock Sprouts New Life After 15% Run

Sprouts Farmers Market stock opened at $63.35 on Monday. The firm's fifty day moving average price is $53.31 and its 200-day moving average price is $46.51. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.51 and a current ratio of 1.10. The stock has a market cap of $6.41 billion, a P/E ratio of 25.24, a price-to-earnings-growth ratio of 2.31 and a beta of 0.49. Sprouts Farmers Market, Inc. has a fifty-two week low of $32.12 and a fifty-two week high of $65.53.

Sprouts Farmers Market (NASDAQ:SFM - Get Free Report) last issued its earnings results on Thursday, February 22nd. The company reported $0.49 EPS for the quarter, topping analysts' consensus estimates of $0.45 by $0.04. The company had revenue of $1.70 billion for the quarter, compared to analysts' expectations of $1.69 billion. Sprouts Farmers Market had a net margin of 3.79% and a return on equity of 26.71%. The firm's revenue was up 7.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.42 EPS. On average, equities research analysts expect that Sprouts Farmers Market, Inc. will post 2.95 earnings per share for the current fiscal year.

About Sprouts Farmers Market

(Free Report)

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.

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