LSV Asset Management Reduces Stake in Sprouts Farmers Market, Inc. (NASDAQ:SFM)

LSV Asset Management lowered its stake in Sprouts Farmers Market, Inc. (NASDAQ:SFM) by 56.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,387,968 shares of the company’s stock after selling 1,810,040 shares during the quarter. LSV Asset Management owned approximately 1.38% of Sprouts Farmers Market worth $116,117,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the stock. Ballentine Partners LLC purchased a new position in shares of Sprouts Farmers Market during the 2nd quarter valued at $274,000. Caprock Group LLC bought a new position in Sprouts Farmers Market in the 2nd quarter worth about $450,000. Acadian Asset Management LLC purchased a new stake in shares of Sprouts Farmers Market in the 2nd quarter valued at about $214,000. Arizona State Retirement System raised its holdings in shares of Sprouts Farmers Market by 1.5% in the 2nd quarter. Arizona State Retirement System now owns 28,335 shares of the company’s stock valued at $2,371,000 after acquiring an additional 424 shares in the last quarter. Finally, Victory Capital Management Inc. boosted its position in shares of Sprouts Farmers Market by 130.0% during the 2nd quarter. Victory Capital Management Inc. now owns 98,327 shares of the company’s stock valued at $8,226,000 after acquiring an additional 55,567 shares during the last quarter.

Analyst Ratings Changes

SFM has been the topic of several research analyst reports. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Sprouts Farmers Market from $63.00 to $76.00 and gave the stock a “hold” rating in a research report on Monday, July 29th. Wells Fargo & Company raised shares of Sprouts Farmers Market from an “underweight” rating to an “equal weight” rating and increased their price target for the stock from $62.00 to $90.00 in a report on Tuesday, July 30th. Evercore ISI lifted their price objective on shares of Sprouts Farmers Market from $84.00 to $96.00 and gave the stock an “in-line” rating in a report on Tuesday, July 30th. The Goldman Sachs Group increased their target price on Sprouts Farmers Market from $89.00 to $111.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Finally, Bank of America lifted their price target on Sprouts Farmers Market from $100.00 to $115.00 and gave the stock a “buy” rating in a research note on Thursday. Eight investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $95.25.

Sprouts Farmers Market Stock Down 0.8 %

SFM stock opened at $98.83 on Monday. Sprouts Farmers Market, Inc. has a fifty-two week low of $38.46 and a fifty-two week high of $104.41. The company has a market capitalization of $9.90 billion, a price-to-earnings ratio of 34.08, a price-to-earnings-growth ratio of 2.81 and a beta of 0.56. The business’s 50 day moving average price is $92.01 and its two-hundred day moving average price is $77.74. 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 (NASDAQ:SFM) last issued its quarterly earnings results on Monday, July 29th. The company reported $0.94 earnings per share for the quarter, topping the consensus estimate of $0.78 by $0.16. The company had revenue of $1.90 billion for the quarter, compared to analysts’ expectations of $1.84 billion. Sprouts Farmers Market had a return on equity of 27.53% and a net margin of 4.52%. The firm’s revenue for the quarter was up 12.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.71 earnings per share. As a group, analysts forecast that Sprouts Farmers Market, Inc. will post 3.37 earnings per share for the current fiscal year.

Insider Transactions at Sprouts Farmers Market

In related news, CEO Jack Sinclair sold 5,714 shares of Sprouts Farmers Market stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $101.09, for a total transaction of $577,628.26. Following the completion of the transaction, the chief executive officer now directly owns 222,432 shares of the company’s stock, valued at approximately $22,485,650.88. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, CEO Jack Sinclair sold 5,714 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $101.09, for a total transaction of $577,628.26. Following the completion of the transaction, the chief executive officer now owns 222,432 shares of the company’s stock, valued at approximately $22,485,650.88. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Timmi Zalatoris sold 56,800 shares of Sprouts Farmers Market stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $100.00, for a total value of $5,680,000.00. Following the transaction, the insider now owns 10,895 shares of the company’s stock, valued at approximately $1,089,500. The disclosure for this sale can be found here. Insiders have sold 126,942 shares of company stock valued at $12,373,193 in the last three months. 1.10% of the stock is currently owned by company insiders.

About Sprouts Farmers Market

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.