Harvest Capital Strategies LLC lowered its stake in shares of Sprouts Farmers Market Inc (NASDAQ:SFM) by 11.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 190,000 shares of the company’s stock after selling 25,000 shares during the period. Harvest Capital Strategies LLC owned 0.14% of Sprouts Farmers Market worth $4,627,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors also recently added to or reduced their stakes in the company. Allianz Asset Management GmbH bought a new stake in shares of Sprouts Farmers Market during the third quarter valued at approximately $1,991,000. Cornerstone Capital Management Holdings LLC. bought a new stake in Sprouts Farmers Market in the third quarter worth $2,485,000. Sei Investments Co. increased its position in Sprouts Farmers Market by 1,205.1% in the third quarter. Sei Investments Co. now owns 40,523 shares of the company’s stock worth $761,000 after purchasing an additional 37,418 shares during the last quarter. Aurora Investment Counsel bought a new stake in Sprouts Farmers Market in the fourth quarter worth $1,115,000. Finally, Shaker Investments LLC OH bought a new stake in Sprouts Farmers Market in the fourth quarter worth $1,311,000. Hedge funds and other institutional investors own 92.32% of the company’s stock.
In other Sprouts Farmers Market news, Director Shon A. Boney sold 848,409 shares of the business’s stock in a transaction dated Wednesday, January 3rd. The shares were sold at an average price of $24.72, for a total value of $20,972,670.48. Following the completion of the transaction, the director now directly owns 478,965 shares in the company, valued at $11,840,014.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CMO Shawn R. Gensch sold 997 shares of the business’s stock in a transaction dated Monday, March 5th. The stock was sold at an average price of $25.24, for a total transaction of $25,164.28. Following the completion of the transaction, the chief marketing officer now owns 26,423 shares of the company’s stock, valued at $666,916.52. The disclosure for this sale can be found here. Insiders sold 1,675,741 shares of company stock valued at $43,621,557 over the last 90 days. 2.60% of the stock is currently owned by corporate insiders.
Sprouts Farmers Market (NASDAQ:SFM) last released its quarterly earnings data on Thursday, February 22nd. The company reported $0.16 earnings per share for the quarter, beating the consensus estimate of $0.15 by $0.01. The firm had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.14 billion. Sprouts Farmers Market had a return on equity of 21.81% and a net margin of 3.40%. The firm’s quarterly revenue was up 16.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.13 earnings per share. research analysts anticipate that Sprouts Farmers Market Inc will post 1.27 EPS for the current fiscal year.
Sprouts Farmers Market declared that its board has initiated a stock buyback plan on Thursday, February 22nd that authorizes the company to buyback $350.00 million in outstanding shares. This buyback authorization authorizes the company to reacquire shares of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.
Several equities research analysts recently weighed in on SFM shares. Deutsche Bank boosted their price target on shares of Sprouts Farmers Market from $24.00 to $27.00 and gave the stock a “hold” rating in a research report on Friday, February 23rd. BidaskClub raised shares of Sprouts Farmers Market from a “buy” rating to a “strong-buy” rating in a research note on Friday, December 22nd. Royal Bank of Canada reaffirmed a “buy” rating and set a $32.00 price objective on shares of Sprouts Farmers Market in a research note on Friday, February 2nd. BMO Capital Markets reaffirmed a “hold” rating and set a $32.00 price objective on shares of Sprouts Farmers Market in a research note on Wednesday, January 24th. Finally, Zacks Investment Research raised shares of Sprouts Farmers Market from a “hold” rating to a “buy” rating and set a $29.00 price objective for the company in a research note on Wednesday, February 28th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. Sprouts Farmers Market has a consensus rating of “Buy” and an average target price of $26.95.
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Sprouts Farmers Market Company Profile
Sprouts Farmers Market, Inc is a food retailer. The Company operates as a grocery store that offers fresh, natural and organic food that includes fresh produce, bulk foods, vitamins and supplements, packaged groceries, meat and seafood, deli, baked goods, dairy products, frozen foods, body care and natural household items catering to consumers’ interest in health and wellness.
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