Oppenheimer & Co. Inc. Raises Stake in Sprouts Farmers Market, Inc. (NASDAQ:SFM)

Oppenheimer & Co. Inc. boosted its holdings in shares of Sprouts Farmers Market, Inc. (NASDAQ:SFM) by 90.3% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 14,071 shares of the company’s stock after buying an additional 6,675 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Sprouts Farmers Market were worth $1,554,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Crewe Advisors LLC grew its holdings in Sprouts Farmers Market by 223.5% during the second quarter. Crewe Advisors LLC now owns 317 shares of the company’s stock worth $27,000 after acquiring an additional 219 shares during the period. Whittier Trust Co. of Nevada Inc. purchased a new stake in Sprouts Farmers Market in the 2nd quarter worth approximately $29,000. V Square Quantitative Management LLC acquired a new stake in shares of Sprouts Farmers Market during the 3rd quarter worth approximately $38,000. Quarry LP increased its holdings in shares of Sprouts Farmers Market by 1,425.8% during the 2nd quarter. Quarry LP now owns 473 shares of the company’s stock valued at $40,000 after purchasing an additional 442 shares in the last quarter. Finally, Waldron Private Wealth LLC acquired a new position in shares of Sprouts Farmers Market in the 3rd quarter valued at $60,000.

Insider Activity

In other Sprouts Farmers Market news, Director Kristen E. Blum sold 2,000 shares of the company’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $100.00, for a total value of $200,000.00. Following the completion of the sale, the director now directly owns 51,627 shares in the company, valued at $5,162,700. This represents a 3.73 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Joseph L. Hurley sold 4,956 shares of the firm’s stock in a transaction on Monday, November 4th. The stock was sold at an average price of $132.66, for a total value of $657,462.96. Following the completion of the sale, the insider now directly owns 11,184 shares of the company’s stock, valued at $1,483,669.44. This trade represents a 30.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 50,648 shares of company stock worth $5,902,586 over the last ninety days. Corporate insiders own 1.10% of the company’s stock.

Sprouts Farmers Market Trading Up 0.1 %

Shares of SFM opened at $142.00 on Monday. Sprouts Farmers Market, Inc. has a 52-week low of $40.39 and a 52-week high of $148.56. The stock has a market cap of $14.20 billion, a PE ratio of 41.04, a price-to-earnings-growth ratio of 2.15 and a beta of 0.54. The firm’s fifty day moving average is $118.29 and its two-hundred day moving average is $97.11. The company has a quick ratio of 0.59, a current ratio of 1.13 and a debt-to-equity ratio of 0.01.

Sprouts Farmers Market (NASDAQ:SFM) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.77 by $0.14. The firm had revenue of $1.95 billion for the quarter, compared to analyst estimates of $1.88 billion. Sprouts Farmers Market had a net margin of 4.73% and a return on equity of 28.24%. Sprouts Farmers Market’s quarterly revenue was up 13.6% on a year-over-year basis. During the same period in the previous year, the business posted $0.65 earnings per share. Research analysts forecast that Sprouts Farmers Market, Inc. will post 3.68 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts recently commented on SFM shares. Bank of America raised their price target on shares of Sprouts Farmers Market from $115.00 to $135.00 and gave the company a “buy” rating in a research report on Friday, October 25th. Melius Research began coverage on Sprouts Farmers Market in a research note on Monday, September 23rd. They issued a “hold” rating and a $105.00 price target for the company. The Goldman Sachs Group increased their price target on Sprouts Farmers Market from $127.00 to $159.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Royal Bank of Canada started coverage on Sprouts Farmers Market in a research report on Thursday, September 12th. They issued a “sector perform” rating and a $107.00 price objective for the company. Finally, BMO Capital Markets increased their target price on Sprouts Farmers Market from $102.00 to $140.00 and gave the company a “market perform” rating in a research report on Thursday, October 31st. Nine investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $115.40.

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.