Empowered Funds LLC Cuts Stock Position in Sprouts Farmers Market, Inc. (NASDAQ:SFM)

Empowered Funds LLC reduced its holdings in shares of Sprouts Farmers Market, Inc. (NASDAQ:SFM - Free Report) by 12.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 61,582 shares of the company's stock after selling 8,899 shares during the period. Empowered Funds LLC owned about 0.06% of Sprouts Farmers Market worth $6,799,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Cetera Advisors LLC purchased a new stake in Sprouts Farmers Market in the first quarter worth $349,000. Ritholtz Wealth Management lifted its stake in Sprouts Farmers Market by 59.8% in the second quarter. Ritholtz Wealth Management now owns 16,790 shares of the company's stock worth $1,405,000 after acquiring an additional 6,286 shares during the period. SpiderRock Advisors LLC purchased a new stake in Sprouts Farmers Market in the third quarter worth $3,252,000. Pinkerton Retirement Specialists LLC purchased a new stake in Sprouts Farmers Market in the second quarter worth $623,000. Finally, Caprock Group LLC purchased a new stake in Sprouts Farmers Market in the second quarter worth $450,000.

Sprouts Farmers Market Price Performance

Shares of SFM traded up $0.17 during mid-day trading on Friday, hitting $142.00. 1,246,325 shares of the stock were exchanged, compared to its average volume of 1,533,323. The company has a market cap of $14.20 billion, a PE ratio of 41.04, a price-to-earnings-growth ratio of 2.15 and a beta of 0.54. Sprouts Farmers Market, Inc. has a 52-week low of $40.39 and a 52-week high of $148.56. The firm has a 50-day moving average of $118.29 and a two-hundred day moving average of $97.11. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.59 and a current ratio of 1.13.

Sprouts Farmers Market (NASDAQ:SFM - Get Free Report) last released its earnings results on Wednesday, October 30th. The company reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.77 by $0.14. The firm 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 company's revenue for the quarter was up 13.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.65 EPS. On average, equities analysts predict that Sprouts Farmers Market, Inc. will post 3.68 earnings per share for the current year.

Insider Activity

In other Sprouts Farmers Market news, Director Kristen E. Blum sold 2,000 shares of the firm's stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $100.00, for a total value of $200,000.00. Following the completion of the sale, the director now owns 51,627 shares of the company's stock, valued at approximately $5,162,700. This trade represents a 3.73 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Dustin Hamilton sold 500 shares of the firm's stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $97.52, for a total value of $48,760.00. Following the completion of the sale, the insider now directly owns 27,188 shares of the company's stock, valued at approximately $2,651,373.76. This represents a 1.81 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 50,648 shares of company stock worth $5,902,586. Company insiders own 1.10% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. Wells Fargo & Company lifted their price target on Sprouts Farmers Market from $90.00 to $130.00 and gave the stock an "equal weight" rating in a research report on Thursday, October 31st. Royal Bank of Canada started coverage on Sprouts Farmers Market in a research report on Thursday, September 12th. They issued a "sector perform" rating and a $107.00 price target for the company. The Goldman Sachs Group lifted their price target on Sprouts Farmers Market from $127.00 to $159.00 and gave the stock a "buy" rating in a research report on Friday, November 1st. Melius Research initiated coverage on Sprouts Farmers Market in a report on Monday, September 23rd. They issued a "hold" rating and a $105.00 price objective for the company. Finally, Bank of America lifted their price objective on Sprouts Farmers Market from $115.00 to $135.00 and gave the stock a "buy" rating in a report on Friday, October 25th. Nine equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $115.40.

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.