Envestnet Asset Management Inc. Cuts Position in Sprouts Farmers Market, Inc. (NASDAQ:SFM)

Envestnet Asset Management Inc. decreased its holdings in Sprouts Farmers Market, Inc. (NASDAQ:SFM) by 6.6% during the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 158,467 shares of the company’s stock after selling 11,147 shares during the period. Envestnet Asset Management Inc. owned approximately 0.16% of Sprouts Farmers Market worth $24,188,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. HighTower Advisors LLC grew its position in shares of Sprouts Farmers Market by 55.0% during the fourth quarter. HighTower Advisors LLC now owns 20,722 shares of the company’s stock worth $2,633,000 after buying an additional 7,355 shares in the last quarter. Wells Fargo & Company MN lifted its stake in Sprouts Farmers Market by 26.2% during the fourth quarter. Wells Fargo & Company MN now owns 181,364 shares of the company’s stock worth $23,046,000 after purchasing an additional 37,637 shares during the last quarter. Sowell Financial Services LLC bought a new position in Sprouts Farmers Market during the first quarter worth $270,000. Andrew Hill Investment Advisors Inc. lifted its stake in Sprouts Farmers Market by 145.8% during the fourth quarter. Andrew Hill Investment Advisors Inc. now owns 20,342 shares of the company’s stock worth $2,585,000 after purchasing an additional 12,067 shares during the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec bought a new position in Sprouts Farmers Market during the fourth quarter worth $2,618,000.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Wall Street Zen upgraded shares of Sprouts Farmers Market from a “hold” rating to a “buy” rating in a research note on Wednesday, April 23rd. Wells Fargo & Company lifted their price objective on shares of Sprouts Farmers Market from $170.00 to $175.00 and gave the company an “equal weight” rating in a research note on Thursday, May 1st. Roth Capital set a $155.00 price objective on shares of Sprouts Farmers Market and gave the company a “neutral” rating in a research note on Thursday, May 1st. UBS Group lifted their price objective on shares of Sprouts Farmers Market from $195.00 to $196.00 and gave the company a “neutral” rating in a research note on Thursday, May 1st. Finally, Evercore ISI lifted their price objective on shares of Sprouts Farmers Market from $180.00 to $185.00 and gave the company an “outperform” rating in a research note on Thursday, May 1st. Nine analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $167.86.

Sprouts Farmers Market Stock Up 0.1%

NASDAQ:SFM opened at $164.65 on Wednesday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.51 and a current ratio of 0.95. The company has a market cap of $16.11 billion, a PE ratio of 37.00, a PEG ratio of 2.06 and a beta of 0.77. Sprouts Farmers Market, Inc. has a 52-week low of $81.41 and a 52-week high of $182.00. The stock has a 50-day simple moving average of $164.05 and a 200 day simple moving average of $156.09.

Sprouts Farmers Market (NASDAQ:SFM) last issued its earnings results on Wednesday, April 30th. The company reported $1.81 earnings per share for the quarter, topping analysts’ consensus estimates of $1.54 by $0.27. Sprouts Farmers Market had a net margin of 5.53% and a return on equity of 34.20%. The business had revenue of $2.24 billion for the quarter, compared to the consensus estimate of $2.20 billion. During the same period in the previous year, the company earned $1.12 earnings per share. The firm’s revenue for the quarter was up 18.7% on a year-over-year basis. On average, sell-side analysts expect that Sprouts Farmers Market, Inc. will post 4.29 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO Jack Sinclair sold 4,054 shares of the stock in a transaction dated Monday, June 16th. The shares were sold at an average price of $160.45, for a total value of $650,464.30. Following the transaction, the chief executive officer directly owned 174,740 shares of the company’s stock, valued at $28,037,033. This represents a 2.27% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Nicholas Konat sold 20,270 shares of the stock in a transaction dated Thursday, May 29th. The shares were sold at an average price of $167.50, for a total transaction of $3,395,225.00. Following the completion of the transaction, the chief operating officer directly owned 55,675 shares in the company, valued at $9,325,562.50. The trade was a 26.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 74,035 shares of company stock valued at $12,213,719. 1.10% of the stock is currently owned by 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.