The Manufacturers Life Insurance Company Cuts Stock Position in Sprouts Farmers Market, Inc. (NASDAQ:SFM)

The Manufacturers Life Insurance Company lessened its holdings in Sprouts Farmers Market, Inc. (NASDAQ:SFM - Free Report) by 3.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 117,144 shares of the company's stock after selling 3,943 shares during the quarter. The Manufacturers Life Insurance Company owned 0.12% of Sprouts Farmers Market worth $12,934,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of SFM. Accent Capital Management LLC purchased a new stake in shares of Sprouts Farmers Market during the 3rd quarter valued at $25,000. Crewe Advisors LLC lifted its position in shares of Sprouts Farmers Market by 223.5% in the 2nd quarter. Crewe Advisors LLC now owns 317 shares of the company's stock worth $27,000 after purchasing an additional 219 shares during the period. V Square Quantitative Management LLC purchased a new position in shares of Sprouts Farmers Market during the 3rd quarter worth approximately $38,000. Whittier Trust Co. of Nevada Inc. purchased a new position in Sprouts Farmers Market during the second quarter valued at $29,000. Finally, First Horizon Advisors Inc. grew its holdings in Sprouts Farmers Market by 80.6% in the third quarter. First Horizon Advisors Inc. now owns 363 shares of the company's stock worth $40,000 after purchasing an additional 162 shares during the period.

Insider Transactions at Sprouts Farmers Market

In related news, insider Dustin Hamilton sold 1,997 shares of the firm's stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $99.20, for a total transaction of $198,102.40. Following the completion of the sale, the insider now directly owns 26,172 shares of the company's stock, valued at approximately $2,596,262.40. This trade represents a 7.09 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Joseph L. Hurley sold 4,956 shares of the company's stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $132.66, for a total transaction of $657,462.96. Following the completion of the transaction, the insider now directly owns 11,184 shares in the company, valued at $1,483,669.44. The trade was a 30.71 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 30,802 shares of company stock worth $3,887,838 in the last ninety days. Insiders own 1.10% of the company's stock.

Sprouts Farmers Market Price Performance

Shares of SFM traded down $0.32 during mid-day trading on Tuesday, hitting $150.60. 346,663 shares of the company were exchanged, compared to its average volume of 1,334,320. The stock has a market cap of $15.06 billion, a price-to-earnings ratio of 43.95, a price-to-earnings-growth ratio of 2.33 and a beta of 0.58. Sprouts Farmers Market, Inc. has a 1-year low of $44.02 and a 1-year high of $155.64. The company has a 50 day moving average of $128.03 and a 200-day moving average of $102.77. 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 posted its quarterly earnings data on Wednesday, October 30th. The company reported $0.91 EPS for the quarter, beating the consensus estimate of $0.77 by $0.14. Sprouts Farmers Market had a return on equity of 28.24% and a net margin of 4.73%. The firm had revenue of $1.95 billion during the quarter, compared to the consensus estimate of $1.88 billion. During the same period in the prior year, the company earned $0.65 EPS. The firm's revenue was up 13.6% compared to the same quarter last year. Analysts expect that Sprouts Farmers Market, Inc. will post 3.68 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

SFM has been the topic of several analyst reports. StockNews.com upgraded shares of Sprouts Farmers Market from a "hold" rating to a "buy" rating in a research note on Thursday, November 28th. Evercore ISI raised their target price on shares of Sprouts Farmers Market from $155.00 to $160.00 and gave the company an "outperform" rating in a report on Tuesday. Royal Bank of Canada started coverage on Sprouts Farmers Market in a report on Thursday, September 12th. They issued a "sector perform" rating and a $107.00 price target on the stock. Melius Research began 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. Finally, Bank of America lifted their target price on Sprouts Farmers Market from $115.00 to $135.00 and gave the company a "buy" rating in a research note on Friday, October 25th. Eight research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, 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.