Renaissance Group LLC Acquires 15,694 Shares of Sprouts Farmers Market, Inc. $SFM

Renaissance Group LLC grew its holdings in Sprouts Farmers Market, Inc. (NASDAQ:SFM) by 29.0% in the 3rd quarter, HoldingsChannel reports. The firm owned 69,834 shares of the company’s stock after buying an additional 15,694 shares during the quarter. Renaissance Group LLC’s holdings in Sprouts Farmers Market were worth $7,598,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of SFM. Newbridge Financial Services Group Inc. purchased a new position in Sprouts Farmers Market during the second quarter valued at approximately $29,000. Root Financial Partners LLC bought a new stake in Sprouts Farmers Market during the 3rd quarter valued at $26,000. Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of Sprouts Farmers Market in the 3rd quarter valued at $33,000. Cullen Frost Bankers Inc. raised its position in shares of Sprouts Farmers Market by 60.5% in the 2nd quarter. Cullen Frost Bankers Inc. now owns 419 shares of the company’s stock worth $69,000 after acquiring an additional 158 shares in the last quarter. Finally, State of Wyoming bought a new position in shares of Sprouts Farmers Market in the 2nd quarter worth $77,000.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on SFM. Wells Fargo & Company cut their target price on Sprouts Farmers Market from $180.00 to $135.00 and set an “overweight” rating on the stock in a research note on Thursday, October 30th. Deutsche Bank Aktiengesellschaft downgraded shares of Sprouts Farmers Market from a “buy” rating to a “hold” rating and set a $88.00 price objective on the stock. in a research report on Thursday, January 8th. Wall Street Zen raised shares of Sprouts Farmers Market from a “hold” rating to a “buy” rating in a research report on Saturday. Royal Bank Of Canada cut their price target on shares of Sprouts Farmers Market from $148.00 to $140.00 and set an “outperform” rating on the stock in a report on Thursday, October 30th. Finally, JPMorgan Chase & Co. reduced their price target on Sprouts Farmers Market from $124.00 to $91.00 and set a “neutral” rating on the stock in a research report on Thursday, October 30th. Eight analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $127.69.

Insiders Place Their Bets

In other Sprouts Farmers Market news, CMO Alisa Gmelich sold 3,161 shares of Sprouts Farmers Market stock in a transaction dated Friday, December 12th. The stock was sold at an average price of $79.39, for a total transaction of $250,951.79. Following the completion of the sale, the chief marketing officer owned 5,552 shares of the company’s stock, valued at approximately $440,773.28. The trade was a 36.28% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider John Scott Neal sold 17,471 shares of the stock in a transaction dated Wednesday, December 3rd. The shares were sold at an average price of $85.20, for a total value of $1,488,529.20. Following the completion of the transaction, the insider directly owned 14,178 shares in the company, valued at $1,207,965.60. This represents a 55.20% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 1.10% of the company’s stock.

Sprouts Farmers Market Trading Up 1.5%

NASDAQ SFM opened at $67.32 on Friday. Sprouts Farmers Market, Inc. has a 12-month low of $66.17 and a 12-month high of $182.00. The company has a fifty day simple moving average of $77.63 and a two-hundred day simple moving average of $104.73. The company has a current ratio of 1.05, a quick ratio of 0.53 and a debt-to-equity ratio of 0.04. The stock has a market cap of $6.55 billion, a P/E ratio of 13.02, a P/E/G ratio of 0.66 and a beta of 0.75.

Sprouts Farmers Market Profile

Sprouts Farmers Market, Inc (NASDAQ: SFM) is a specialty grocery retailer focused on fresh, natural and organic foods. Headquartered in Phoenix, Arizona, the company operates stores designed to offer an open-market shopping experience, emphasizing quality produce sourced from regional farmers alongside organic pantry staples, dairy, meat and seafood. Sprouts’ product assortment also includes bulk foods, vitamins and supplements, a deli and prepared foods, reflecting its commitment to wellness and affordable healthy living.

Founded in 2002 by members of the Boney family, Sprouts began as a single farmers market in Chandler, Arizona.