Assetmark Inc. Purchases 58,935 Shares of Sprouts Farmers Market, Inc. $SFM

Assetmark Inc. lifted its position in shares of Sprouts Farmers Market, Inc. (NASDAQ:SFM) by 7.1% during the third quarter, Holdings Channel.com reports. The institutional investor owned 885,485 shares of the company’s stock after acquiring an additional 58,935 shares during the quarter. Assetmark Inc.’s holdings in Sprouts Farmers Market were worth $96,341,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. Root Financial Partners LLC purchased a new position in Sprouts Farmers Market in the third quarter valued at about $26,000. Newbridge Financial Services Group Inc. acquired a new stake in Sprouts Farmers Market during the 2nd quarter worth about $29,000. Smartleaf Asset Management LLC lifted its holdings in shares of Sprouts Farmers Market by 98.6% in the 3rd quarter. Smartleaf Asset Management LLC now owns 284 shares of the company’s stock valued at $31,000 after buying an additional 141 shares during the period. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of Sprouts Farmers Market in the third quarter worth about $33,000. Finally, Cullen Frost Bankers Inc. grew its holdings in Sprouts Farmers Market by 60.5% during the second quarter. Cullen Frost Bankers Inc. now owns 419 shares of the company’s stock worth $69,000 after acquiring an additional 158 shares during the period.

Sprouts Farmers Market Stock Performance

Shares of SFM opened at $67.63 on Friday. The company’s fifty day moving average is $76.10 and its two-hundred day moving average is $102.03. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.53 and a current ratio of 1.05. The stock has a market capitalization of $6.59 billion, a P/E ratio of 13.08, a P/E/G ratio of 0.66 and a beta of 0.75. Sprouts Farmers Market, Inc. has a 1 year low of $64.75 and a 1 year high of $182.00.

Insider Activity

In other Sprouts Farmers Market news, CMO Alisa Gmelich sold 3,161 shares of the firm’s stock in a transaction dated Friday, December 12th. The shares were sold at an average price of $79.39, for a total transaction of $250,951.79. Following the completion of the transaction, the chief marketing officer directly owned 5,552 shares in the company, valued at approximately $440,773.28. This trade represents a 36.28% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider John Scott Neal sold 17,471 shares of the company’s stock in a transaction on Wednesday, December 3rd. The shares were sold at an average price of $85.20, for a total value of $1,488,529.20. Following the completion of the sale, the insider owned 14,178 shares in the company, valued at $1,207,965.60. This represents a 55.20% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 1.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on SFM shares. Deutsche Bank Aktiengesellschaft cut shares of Sprouts Farmers Market from a “buy” rating to a “hold” rating and set a $88.00 price objective for the company. in a report on Thursday, January 8th. Barclays lowered their target price on shares of Sprouts Farmers Market from $185.00 to $122.00 and set an “overweight” rating on the stock in a research note on Thursday, October 30th. BMO Capital Markets set a $90.00 price objective on Sprouts Farmers Market in a research note on Thursday, October 30th. Evercore ISI reaffirmed an “outperform” rating on shares of Sprouts Farmers Market in a research note on Tuesday. Finally, Bank of America lowered their price target on Sprouts Farmers Market from $200.00 to $160.00 and set a “buy” rating for the company in a research report on Thursday, October 23rd. Nine analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $125.77.

Sprouts Farmers Market Profile

Sprouts Farmers Market, Inc (NASDAQ: SFM) is a specialty grocery retailer focused on fresh, natural and organic foods. Headquartered in Phoenix, Arizona, the company operates stores designed to offer an open-market shopping experience, emphasizing quality produce sourced from regional farmers alongside organic pantry staples, dairy, meat and seafood. Sprouts’ product assortment also includes bulk foods, vitamins and supplements, a deli and prepared foods, reflecting its commitment to wellness and affordable healthy living.

Founded in 2002 by members of the Boney family, Sprouts began as a single farmers market in Chandler, Arizona.