Sprouts Farmers Market, Inc. $SFM Shares Bought by Federated Hermes Inc.

Federated Hermes Inc. increased its holdings in Sprouts Farmers Market, Inc. (NASDAQ:SFM) by 89.8% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 928,668 shares of the company’s stock after acquiring an additional 439,425 shares during the quarter. Federated Hermes Inc. owned approximately 0.95% of Sprouts Farmers Market worth $101,039,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of SFM. Elevate Capital Advisors LLC acquired a new position in Sprouts Farmers Market during the 2nd quarter valued at approximately $2,227,000. Spirepoint Private Client LLC acquired a new stake in Sprouts Farmers Market in the third quarter worth $4,310,000. NewSquare Capital LLC lifted its stake in Sprouts Farmers Market by 83,859.0% in the second quarter. NewSquare Capital LLC now owns 32,744 shares of the company’s stock valued at $5,391,000 after buying an additional 32,705 shares during the last quarter. AMF Tjanstepension AB acquired a new position in shares of Sprouts Farmers Market during the second quarter valued at $1,580,000. Finally, State of Alaska Department of Revenue grew its position in shares of Sprouts Farmers Market by 115.4% during the third quarter. State of Alaska Department of Revenue now owns 36,486 shares of the company’s stock worth $3,968,000 after acquiring an additional 19,549 shares during the last quarter.

Analysts Set New Price Targets

SFM has been the topic of several recent research reports. Bank of America cut their price objective on shares of Sprouts Farmers Market from $200.00 to $160.00 and set a “buy” rating on the stock in a research report on Thursday, October 23rd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Sprouts Farmers Market in a report on Monday, December 29th. BMO Capital Markets set a $90.00 price objective on Sprouts Farmers Market in a report on Thursday, October 30th. JPMorgan Chase & Co. lowered their target price on Sprouts Farmers Market from $124.00 to $91.00 and set a “neutral” rating on the stock in a research report on Thursday, October 30th. Finally, Zacks Research upgraded Sprouts Farmers Market from a “strong sell” rating to a “hold” rating in a research report on Monday, January 12th. Eight equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to data from MarketBeat, Sprouts Farmers Market has an average rating of “Moderate Buy” and an average price target of $129.38.

Sprouts Farmers Market Stock Performance

Shares of NASDAQ SFM opened at $70.16 on Thursday. The stock has a fifty day moving average price of $79.45 and a two-hundred day moving average price of $109.07. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.53 and a current ratio of 1.05. The firm has a market cap of $6.83 billion, a P/E ratio of 13.57, a PEG ratio of 0.71 and a beta of 0.73. Sprouts Farmers Market, Inc. has a 1 year low of $69.29 and a 1 year high of $182.00.

Sprouts Farmers Market (NASDAQ:SFM) last posted its quarterly earnings data on Wednesday, October 29th. The company reported $1.22 EPS for the quarter, topping analysts’ consensus estimates of $1.17 by $0.05. Sprouts Farmers Market had a return on equity of 38.03% and a net margin of 5.93%.The company had revenue of $2.20 billion for the quarter, compared to the consensus estimate of $2.23 billion. During the same quarter in the previous year, the business earned $0.91 EPS. The company’s quarterly revenue was up 13.1% compared to the same quarter last year. Research analysts forecast that Sprouts Farmers Market, Inc. will post 4.29 EPS for the current fiscal year.

Insider Activity

In other news, insider John Scott Neal sold 17,471 shares of the firm’s stock in a transaction dated Wednesday, December 3rd. The shares were sold at an average price of $85.20, for a total transaction of $1,488,529.20. Following the completion of the transaction, the insider owned 14,178 shares in the company, valued at approximately $1,207,965.60. This trade represents a 55.20% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CMO Alisa Gmelich sold 3,161 shares of the business’s stock in a transaction that occurred on Friday, December 12th. The stock was sold at an average price of $79.39, for a total transaction of $250,951.79. Following the completion of the sale, the chief marketing officer owned 5,552 shares in the company, valued at $440,773.28. The trade was a 36.28% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 1.10% of the company’s stock.

Sprouts Farmers Market Company Profile

Sprouts Farmers Market, Inc (NASDAQ: SFM) is a specialty grocery retailer focused on fresh, natural and organic foods. Headquartered in Phoenix, Arizona, the company operates stores designed to offer an open-market shopping experience, emphasizing quality produce sourced from regional farmers alongside organic pantry staples, dairy, meat and seafood. Sprouts’ product assortment also includes bulk foods, vitamins and supplements, a deli and prepared foods, reflecting its commitment to wellness and affordable healthy living.

Founded in 2002 by members of the Boney family, Sprouts began as a single farmers market in Chandler, Arizona.