Envestnet Asset Management Inc. Raises Stock Holdings in Sprouts Farmers Market, Inc. (NASDAQ:SFM)

Envestnet Asset Management Inc. grew its stake in Sprouts Farmers Market, Inc. (NASDAQ:SFM – Get Rating) by 8.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 120,245 shares of the company’s stock after buying an additional 9,485 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.11% of Sprouts Farmers Market worth $3,337,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Ronald Blue Trust Inc. boosted its stake in Sprouts Farmers Market by 398.3% during the third quarter. Ronald Blue Trust Inc. now owns 1,171 shares of the company’s stock valued at $30,000 after buying an additional 936 shares during the last quarter. Canada Pension Plan Investment Board bought a new position in Sprouts Farmers Market during the first quarter valued at approximately $35,000. Platinum Investment Management Ltd. boosted its stake in Sprouts Farmers Market by 36.3% during the second quarter. Platinum Investment Management Ltd. now owns 1,758 shares of the company’s stock valued at $45,000 after buying an additional 468 shares during the last quarter. Heritage Wealth Management LLC bought a new stake in shares of Sprouts Farmers Market in the 2nd quarter valued at approximately $47,000. Finally, Wipfli Financial Advisors LLC bought a new stake in shares of Sprouts Farmers Market in the 3rd quarter valued at approximately $55,000. Hedge funds and other institutional investors own 99.11% of the company’s stock.

Analysts Set New Price Targets

SFM has been the subject of several analyst reports. Deutsche Bank Aktiengesellschaft raised their price objective on Sprouts Farmers Market from $38.00 to $40.00 and gave the company a “buy” rating in a research note on Friday. BMO Capital Markets raised their price objective on Sprouts Farmers Market from $21.00 to $26.00 and gave the company an “underperform” rating in a research note on Monday. MKM Partners lowered Sprouts Farmers Market from a “buy” rating to a “neutral” rating and set a $38.00 price objective for the company. in a research note on Friday, November 11th. The Goldman Sachs Group raised their price target on Sprouts Farmers Market from $26.00 to $29.00 and gave the stock a “sell” rating in a research note on Wednesday, November 30th. Finally, Northcoast Research lowered Sprouts Farmers Market from a “buy” rating to a “neutral” rating in a research note on Thursday, November 17th. Three analysts have rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $31.14.

Sprouts Farmers Market Stock Performance

Shares of SFM opened at $33.24 on Tuesday. The stock has a 50-day moving average of $32.01 and a two-hundred day moving average of $30.93. Sprouts Farmers Market, Inc. has a one year low of $22.56 and a one year high of $35.59. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.70 and a current ratio of 1.29. The stock has a market cap of $3.43 billion, a P/E ratio of 13.91, a P/E/G ratio of 1.87 and a beta of 0.39.

Sprouts Farmers Market (NASDAQ:SFM – Get Rating) last issued its quarterly earnings data on Thursday, March 2nd. The company reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.05. The business had revenue of $1.58 billion during the quarter, compared to analysts’ expectations of $1.56 billion. Sprouts Farmers Market had a return on equity of 25.40% and a net margin of 4.08%. The company’s revenue for the quarter was up 5.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.32 EPS. As a group, research analysts predict that Sprouts Farmers Market, Inc. will post 2.49 EPS for the current year.

Sprouts Farmers Market Company Profile

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Sprouts Farmers Market, Inc engages in the operation of healthy grocery stores. The firm specializes in fresh, natural and organic products. Its products include fresh produce, bulk foods, vitamins and supplements, grocery, meat and seafood, deli, bakery, dairy, frozen foods, body care and natural household items.