Franklin Resources Inc. Has $53.55 Million Holdings in Sprouts Farmers Market, Inc. (NASDAQ:SFM)

Franklin Resources Inc. grew its holdings in shares of Sprouts Farmers Market, Inc. (NASDAQ:SFM - Free Report) by 25.8% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 464,366 shares of the company's stock after purchasing an additional 95,144 shares during the period. Franklin Resources Inc. owned 0.46% of Sprouts Farmers Market worth $53,551,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of SFM. Wealth Enhancement Advisory Services LLC grew its stake in Sprouts Farmers Market by 9.5% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 4,868 shares of the company's stock worth $407,000 after buying an additional 424 shares during the last quarter. Envestnet Portfolio Solutions Inc. lifted its position in Sprouts Farmers Market by 53.8% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 5,211 shares of the company's stock valued at $436,000 after purchasing an additional 1,822 shares during the last quarter. Assenagon Asset Management S.A. bought a new stake in Sprouts Farmers Market in the 2nd quarter valued at about $1,414,000. Blue Trust Inc. boosted its stake in Sprouts Farmers Market by 86.3% during the 2nd quarter. Blue Trust Inc. now owns 1,746 shares of the company's stock valued at $146,000 after purchasing an additional 809 shares during the period. Finally, Raymond James & Associates grew its position in Sprouts Farmers Market by 46.4% in the 2nd quarter. Raymond James & Associates now owns 30,982 shares of the company's stock worth $2,592,000 after purchasing an additional 9,818 shares during the last quarter.

Insider Activity

In other news, CEO Jack Sinclair sold 5,714 shares of Sprouts Farmers Market stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $112.41, for a total transaction of $642,310.74. Following the completion of the sale, the chief executive officer now directly owns 211,004 shares in the company, valued at $23,718,959.64. The trade was a 2.64 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Joe Fortunato sold 11,500 shares of the stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $132.84, for a total value of $1,527,660.00. Following the completion of the transaction, the director now owns 33,571 shares in the company, valued at $4,459,571.64. This represents a 25.52 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 59,855 shares of company stock worth $8,323,697 in the last 90 days. Company insiders own 1.10% of the company's stock.

Sprouts Farmers Market Price Performance

NASDAQ:SFM traded down $3.41 during trading hours on Wednesday, reaching $135.19. 1,350,346 shares of the company's stock were exchanged, compared to its average volume of 1,333,047. 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 company has a market capitalization of $13.52 billion, a P/E ratio of 39.07, a price-to-earnings-growth ratio of 2.23 and a beta of 0.58. Sprouts Farmers Market, Inc. has a 12 month low of $47.63 and a 12 month high of $155.64. The business's 50-day simple moving average is $136.18 and its two-hundred day simple moving average is $108.04.

Sprouts Farmers Market (NASDAQ:SFM - Get Free Report) last released its quarterly earnings data on Wednesday, October 30th. The company reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.77 by $0.14. The business had revenue of $1.95 billion during the quarter, compared to analyst estimates 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 was up 13.6% compared to the same quarter last year. During the same period last year, the company posted $0.65 EPS. Sell-side analysts expect that Sprouts Farmers Market, Inc. will post 3.68 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Melius Research assumed coverage on Sprouts Farmers Market in a report on Monday, September 23rd. They set a "hold" rating and a $105.00 price target on the stock. StockNews.com raised Sprouts Farmers Market from a "hold" rating to a "buy" rating in a research note on Thursday, November 28th. Bank of America increased their price target on Sprouts Farmers Market from $115.00 to $135.00 and gave the stock a "buy" rating in a research note on Friday, October 25th. Royal Bank of Canada assumed coverage on Sprouts Farmers Market in a report on Thursday, September 12th. They set a "sector perform" rating and a $107.00 price target on the stock. Finally, BMO Capital Markets upped their price objective on shares of Sprouts Farmers Market from $102.00 to $140.00 and gave the stock a "market perform" rating in a report on Thursday, October 31st. Eight research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $118.40.

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.