Beacon Harbor Wealth Advisors Inc. Makes New $6.40 Million Investment in Sprouts Farmers Market, Inc. (NASDAQ:SFM)

Beacon Harbor Wealth Advisors Inc. acquired a new position in shares of Sprouts Farmers Market, Inc. (NASDAQ:SFM - Free Report) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 57,973 shares of the company's stock, valued at approximately $6,401,000. Beacon Harbor Wealth Advisors Inc. owned 0.06% of Sprouts Farmers Market as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in SFM. Marshall Wace LLP grew its holdings in Sprouts Farmers Market by 167.4% in the 2nd quarter. Marshall Wace LLP now owns 1,555,192 shares of the company's stock valued at $130,107,000 after buying an additional 973,666 shares during the last quarter. Renaissance Technologies LLC increased its stake in shares of Sprouts Farmers Market by 15.4% in the 2nd quarter. Renaissance Technologies LLC now owns 4,438,144 shares of the company's stock valued at $371,295,000 after acquiring an additional 593,600 shares during the last quarter. Assenagon Asset Management S.A. lifted its holdings in shares of Sprouts Farmers Market by 2,577.7% during the 3rd quarter. Assenagon Asset Management S.A. now owns 452,672 shares of the company's stock valued at $49,980,000 after purchasing an additional 435,767 shares in the last quarter. Hennessy Advisors Inc. grew its holdings in shares of Sprouts Farmers Market by 41.3% during the second quarter. Hennessy Advisors Inc. now owns 804,100 shares of the company's stock worth $67,271,000 after buying an additional 235,100 shares in the last quarter. Finally, Millennium Management LLC raised its holdings in Sprouts Farmers Market by 314.8% during the second quarter. Millennium Management LLC now owns 223,848 shares of the company's stock worth $18,727,000 after acquiring an additional 169,888 shares in the last quarter.

Sprouts Farmers Market Stock Performance

Shares of Sprouts Farmers Market stock traded up $4.50 on Friday, hitting $145.15. The stock had a trading volume of 1,387,922 shares, compared to its average volume of 1,335,502. The company has a quick ratio of 0.59, a current ratio of 1.13 and a debt-to-equity ratio of 0.01. The stock has a market cap of $14.51 billion, a price-to-earnings ratio of 40.65, a price-to-earnings-growth ratio of 2.13 and a beta of 0.54. The business's 50 day moving average is $113.03 and its two-hundred day moving average is $93.40. Sprouts Farmers Market, Inc. has a twelve month low of $39.98 and a twelve month high of $146.27.

Sprouts Farmers Market (NASDAQ:SFM - Get Free Report) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $0.91 earnings per share for the quarter, topping analysts' consensus estimates of $0.77 by $0.14. The business had revenue of $1.95 billion for the quarter, compared to the consensus estimate of $1.88 billion. Sprouts Farmers Market had a return on equity of 28.24% and a net margin of 4.73%. The firm's revenue for the quarter was up 13.6% on a year-over-year basis. During the same period in the prior year, the business earned $0.65 EPS. Analysts forecast that Sprouts Farmers Market, Inc. will post 3.68 EPS for the current year.

Insider Buying and Selling at Sprouts Farmers Market

In other Sprouts Farmers Market news, Director Hari K. Avula sold 2,500 shares of the stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $96.50, for a total transaction of $241,250.00. Following the completion of the sale, the director now directly owns 10,554 shares of the company's stock, valued at $1,018,461. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, insider Dustin Hamilton sold 500 shares of the company's stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $97.52, for a total value of $48,760.00. Following the transaction, the insider now directly owns 27,188 shares of the company's stock, valued at $2,651,373.76. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Hari K. Avula sold 2,500 shares of the firm's stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $96.50, for a total transaction of $241,250.00. Following the transaction, the director now directly owns 10,554 shares of the company's stock, valued at $1,018,461. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 53,148 shares of company stock worth $6,143,836. Insiders own 1.10% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on SFM. Roth Mkm increased their price target on Sprouts Farmers Market from $58.00 to $78.00 and gave the company a "neutral" rating in a research note on Tuesday, July 30th. Melius Research assumed coverage on Sprouts Farmers Market in a research report on Monday, September 23rd. They set a "hold" rating and a $105.00 target price for the company. Royal Bank of Canada initiated coverage on shares of Sprouts Farmers Market in a research report on Thursday, September 12th. They set a "sector perform" rating and a $107.00 price target for the company. Bank of America boosted their price target on shares of Sprouts Farmers Market from $115.00 to $135.00 and gave the company a "buy" rating in a research report on Friday, October 25th. Finally, Deutsche Bank Aktiengesellschaft increased their target price on Sprouts Farmers Market from $63.00 to $76.00 and gave the company a "hold" rating in a research note on Monday, July 29th. Eight investment analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $115.40.

Sprouts Farmers Market Profile

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.