Quad Capital Management Advisors LLC acquired a new stake in shares of Sprouts Farmers Market Inc (NASDAQ:SFM) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 15,000 shares of the company’s stock, valued at approximately $365,000.
A number of other hedge funds also recently modified their holdings of the stock. Sadoff Investment Management LLC purchased a new stake in Sprouts Farmers Market in the third quarter valued at about $223,000. Acadian Asset Management LLC purchased a new stake in Sprouts Farmers Market in the fourth quarter valued at about $224,000. State of Alaska Department of Revenue purchased a new position in shares of Sprouts Farmers Market in the fourth quarter worth about $233,000. Suntrust Banks Inc. purchased a new position in shares of Sprouts Farmers Market in the fourth quarter worth about $245,000. Finally, Stifel Financial Corp purchased a new position in shares of Sprouts Farmers Market in the third quarter worth about $247,000. 92.51% of the stock is currently owned by institutional investors.
In related news, insider Theodore Edward Frumkin II sold 1,722 shares of Sprouts Farmers Market stock in a transaction that occurred on Monday, March 5th. The stock was sold at an average price of $25.24, for a total transaction of $43,463.28. Following the transaction, the insider now owns 37,125 shares in the company, valued at $937,035. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Amin N. Maredia sold 142,454 shares of Sprouts Farmers Market stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $25.43, for a total value of $3,622,605.22. Following the transaction, the chief executive officer now owns 388,311 shares in the company, valued at approximately $9,874,748.73. The disclosure for this sale can be found here. Insiders sold 866,578 shares of company stock worth $23,568,092 over the last ninety days. Corporate insiders own 1.80% of the company’s stock.
Shares of NASDAQ:SFM opened at $23.81 on Friday. The company has a current ratio of 1.00, a quick ratio of 0.23 and a debt-to-equity ratio of 0.73. The company has a market capitalization of $3,163.29, a PE ratio of 23.57, a PEG ratio of 1.45 and a beta of 0.89. Sprouts Farmers Market Inc has a 1 year low of $17.55 and a 1 year high of $28.29.
Sprouts Farmers Market (NASDAQ:SFM) last issued its quarterly earnings results on Thursday, February 22nd. The company reported $0.16 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.15 by $0.01. The firm had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.14 billion. Sprouts Farmers Market had a return on equity of 21.81% and a net margin of 3.40%. The business’s revenue was up 16.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.13 earnings per share. research analysts anticipate that Sprouts Farmers Market Inc will post 1.27 EPS for the current fiscal year.
Sprouts Farmers Market announced that its board has approved a share buyback plan on Thursday, February 22nd that allows the company to repurchase $350.00 million in outstanding shares. This repurchase authorization allows the company to buy shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.
Several research analysts have recently issued reports on the company. Susquehanna Bancshares set a $30.00 price objective on Sprouts Farmers Market and gave the stock a “buy” rating in a research note on Thursday, January 11th. Deutsche Bank raised their price objective on Sprouts Farmers Market from $24.00 to $27.00 and gave the stock a “hold” rating in a research note on Friday, February 23rd. BMO Capital Markets reaffirmed a “hold” rating and set a $32.00 target price on shares of Sprouts Farmers Market in a report on Wednesday, January 24th. Stephens set a $27.00 target price on Sprouts Farmers Market and gave the stock a “hold” rating in a report on Wednesday, January 17th. Finally, Northcoast Research set a $32.00 target price on Sprouts Farmers Market and gave the stock a “buy” rating in a report on Tuesday, February 27th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $27.11.
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About Sprouts Farmers Market
Sprouts Farmers Market, Inc is a food retailer. The Company operates as a grocery store that offers fresh, natural and organic food that includes fresh produce, bulk foods, vitamins and supplements, packaged groceries, meat and seafood, deli, baked goods, dairy products, frozen foods, body care and natural household items catering to consumers’ interest in health and wellness.
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