Moran Wealth Management LLC Sells 12,661 Shares of Sprouts Farmers Market, Inc. (NASDAQ:SFM)

Moran Wealth Management LLC lowered its stake in shares of Sprouts Farmers Market, Inc. (NASDAQ:SFM) by 6.5% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 180,687 shares of the company’s stock after selling 12,661 shares during the period. Moran Wealth Management LLC owned approximately 0.18% of Sprouts Farmers Market worth $19,950,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in Sprouts Farmers Market by 0.3% during the first quarter. Vanguard Group Inc. now owns 10,715,970 shares of the company’s stock worth $690,966,000 after acquiring an additional 29,362 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in shares of Sprouts Farmers Market by 15.4% during the 2nd quarter. Renaissance Technologies LLC now owns 4,438,144 shares of the company’s stock valued at $371,295,000 after purchasing an additional 593,600 shares in the last quarter. Marshall Wace LLP grew its position in shares of Sprouts Farmers Market by 167.4% in the 2nd quarter. Marshall Wace LLP now owns 1,555,192 shares of the company’s stock valued at $130,107,000 after purchasing an additional 973,666 shares during the period. Bank of New York Mellon Corp increased its stake in Sprouts Farmers Market by 0.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,148,457 shares of the company’s stock worth $96,080,000 after purchasing an additional 6,085 shares in the last quarter. Finally, American Century Companies Inc. raised its holdings in Sprouts Farmers Market by 2.8% during the 2nd quarter. American Century Companies Inc. now owns 1,053,531 shares of the company’s stock worth $88,138,000 after buying an additional 28,636 shares during the period.

Sprouts Farmers Market Stock Performance

NASDAQ SFM traded down $1.84 during trading on Wednesday, reaching $141.60. 82,195 shares of the company’s stock were exchanged, compared to its average volume of 1,331,134. Sprouts Farmers Market, Inc. has a fifty-two week low of $40.39 and a fifty-two week high of $148.56. The stock has a market capitalization of $14.16 billion, a P/E ratio of 41.46, a PEG ratio of 2.15 and a beta of 0.54. The business has a 50 day moving average price of $119.96 and a 200-day moving average price of $98.09. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.13 and a quick ratio of 0.59.

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

Insider Buying and Selling at Sprouts Farmers Market

In other Sprouts Farmers Market news, insider Joseph L. Hurley sold 4,956 shares of the stock in a transaction on Monday, November 4th. The stock was sold at an average price of $132.66, for a total transaction of $657,462.96. Following the transaction, the insider now owns 11,184 shares in the company, valued at $1,483,669.44. This trade represents a 30.71 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Jack Sinclair sold 5,714 shares of Sprouts Farmers Market stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $101.09, for a total value of $577,628.26. Following the sale, the chief executive officer now directly owns 222,432 shares of the company’s stock, valued at $22,485,650.88. This represents a 2.50 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 50,148 shares of company stock valued at $5,853,826 in the last three months. 1.10% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

SFM has been the topic of a number of research analyst reports. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Sprouts Farmers Market from $63.00 to $76.00 and gave the stock a “hold” rating in a report on Monday, July 29th. Roth Mkm increased their price objective on Sprouts Farmers Market from $58.00 to $78.00 and gave the stock a “neutral” rating in a report on Tuesday, July 30th. Evercore ISI lifted their price objective on shares of Sprouts Farmers Market from $125.00 to $130.00 and gave the company an “outperform” rating in a report on Tuesday, October 22nd. Bank of America increased their target price on shares of Sprouts Farmers Market from $115.00 to $135.00 and gave the stock a “buy” rating in a report on Friday, October 25th. Finally, BMO Capital Markets lifted their price target on shares of Sprouts Farmers Market from $102.00 to $140.00 and gave the company a “market perform” rating in a research note on Thursday, October 31st. Nine research 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, Sprouts Farmers Market currently has a consensus rating of “Hold” and an average 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.