Principal Financial Group Inc. Cuts Position in Sprouts Farmers Market, Inc. $SFM

Principal Financial Group Inc. reduced its position in Sprouts Farmers Market, Inc. (NASDAQ:SFM) by 13.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 218,162 shares of the company’s stock after selling 35,035 shares during the period. Principal Financial Group Inc. owned approximately 0.22% of Sprouts Farmers Market worth $23,736,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of SFM. Chicago Partners Investment Group LLC grew its stake in Sprouts Farmers Market by 0.6% during the second quarter. Chicago Partners Investment Group LLC now owns 10,355 shares of the company’s stock worth $1,691,000 after buying an additional 65 shares during the period. Rossby Financial LCC lifted its holdings in shares of Sprouts Farmers Market by 2.3% during the 2nd quarter. Rossby Financial LCC now owns 3,059 shares of the company’s stock valued at $504,000 after acquiring an additional 68 shares in the last quarter. J.W. Cole Advisors Inc. boosted its position in Sprouts Farmers Market by 0.8% during the 2nd quarter. J.W. Cole Advisors Inc. now owns 9,069 shares of the company’s stock worth $1,493,000 after purchasing an additional 69 shares during the period. Alteri Wealth LLC boosted its position in Sprouts Farmers Market by 1.0% during the 2nd quarter. Alteri Wealth LLC now owns 7,627 shares of the company’s stock worth $1,256,000 after purchasing an additional 72 shares during the period. Finally, Bessemer Group Inc. increased its holdings in Sprouts Farmers Market by 2.2% in the 2nd quarter. Bessemer Group Inc. now owns 3,335 shares of the company’s stock valued at $549,000 after purchasing an additional 73 shares in the last quarter.

Insider Activity

In other Sprouts Farmers Market news, CMO Alisa Gmelich sold 3,161 shares of Sprouts Farmers Market stock in a transaction that occurred on Friday, December 12th. The stock was sold at an average price of $79.39, for a total value of $250,951.79. Following the completion of the transaction, the chief marketing officer directly 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. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider John Scott Neal sold 17,471 shares of the company’s stock in a transaction that occurred on Wednesday, December 3rd. The shares were sold at an average price of $85.20, for a total value of $1,488,529.20. Following the transaction, the insider directly owned 14,178 shares of the company’s stock, valued at $1,207,965.60. This trade represents a 55.20% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 1.10% of the company’s stock.

Sprouts Farmers Market Stock Up 1.5%

Shares of Sprouts Farmers Market stock opened at $67.32 on Friday. The business has a 50-day moving average price of $77.63 and a 200 day moving average price of $104.31. Sprouts Farmers Market, Inc. has a fifty-two week low of $66.17 and a fifty-two week high of $182.00. The firm has a market cap of $6.55 billion, a P/E ratio of 13.02, a P/E/G ratio of 0.67 and a beta of 0.75. The company has a quick ratio of 0.53, a current ratio of 1.05 and a debt-to-equity ratio of 0.04.

Analysts Set New Price Targets

A number of research analysts have commented on the company. Evercore reduced their price objective on Sprouts Farmers Market from $175.00 to $130.00 and set an “outperform” rating on the stock in a research note on Monday, October 27th. Barclays dropped their target price on Sprouts Farmers Market from $185.00 to $122.00 and set an “overweight” rating on the stock in a report on Thursday, October 30th. Royal Bank Of Canada decreased their price target on Sprouts Farmers Market from $148.00 to $140.00 and set an “outperform” rating for the company in a report on Thursday, October 30th. Wall Street Zen raised shares of Sprouts Farmers Market from a “hold” rating to a “buy” rating in a research report on Saturday. Finally, Deutsche Bank Aktiengesellschaft cut shares of Sprouts Farmers Market from a “buy” rating to a “hold” rating and set a $88.00 target price on the stock. in a research report on Thursday, January 8th. 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 MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $127.69.

About Sprouts Farmers Market

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.