The Manufacturers Life Insurance Company Has $10.13 Million Stake in Sprouts Farmers Market, Inc. (NASDAQ:SFM)

The Manufacturers Life Insurance Company cut its position in shares of Sprouts Farmers Market, Inc. (NASDAQ:SFM) by 1.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 121,087 shares of the company’s stock after selling 1,570 shares during the quarter. The Manufacturers Life Insurance Company owned about 0.12% of Sprouts Farmers Market worth $10,130,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. Millennium Management LLC grew its holdings in Sprouts Farmers Market by 314.8% during the 2nd 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 during the period. Dark Forest Capital Management LP bought a new stake in shares of Sprouts Farmers Market during the 2nd quarter valued at about $840,000. Delta Investment Management LLC acquired a new stake in Sprouts Farmers Market during the second quarter worth approximately $210,000. AXA S.A. grew its stake in Sprouts Farmers Market by 10.3% during the second quarter. AXA S.A. now owns 105,265 shares of the company’s stock worth $8,806,000 after purchasing an additional 9,827 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in Sprouts Farmers Market in the second quarter worth approximately $828,000.

Insider Activity at Sprouts Farmers Market

In other Sprouts Farmers Market news, insider Dustin Hamilton sold 1,997 shares of the company’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $99.20, for a total value 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. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Timmi Zalatoris sold 56,800 shares of Sprouts Farmers Market stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $100.00, for a total transaction of $5,680,000.00. Following the sale, the insider now directly owns 10,895 shares in the company, valued at approximately $1,089,500. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Dustin Hamilton sold 1,997 shares of the business’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 transaction, the insider now directly owns 26,172 shares in the company, valued at $2,596,262.40. The disclosure for this sale can be found here. Insiders have sold 117,507 shares of company stock valued at $11,654,176 over the last ninety days. Corporate insiders own 1.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Evercore ISI upgraded Sprouts Farmers Market from an “in-line” rating to an “outperform” rating and increased their price target for the stock from $96.00 to $120.00 in a report on Monday, September 16th. Melius Research started coverage on shares of Sprouts Farmers Market in a research note on Monday, September 23rd. They set a “hold” rating and a $105.00 target price on the stock. Royal Bank of Canada assumed coverage on shares of Sprouts Farmers Market in a research note on Thursday, September 12th. They issued a “sector perform” rating and a $107.00 price target for the company. Wells Fargo & Company raised shares of Sprouts Farmers Market from an “underweight” rating to an “equal weight” rating and increased their price objective for the stock from $62.00 to $90.00 in a research report on Tuesday, July 30th. Finally, Roth Mkm raised their target price 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. Nine investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $99.80.

Sprouts Farmers Market Stock Performance

Shares of Sprouts Farmers Market stock opened at $111.04 on Friday. Sprouts Farmers Market, Inc. has a 52 week low of $39.76 and a 52 week high of $111.96. The company has a quick ratio of 0.44, a current ratio of 1.03 and a debt-to-equity ratio of 0.01. The business has a 50 day moving average price of $100.45 and a 200-day moving average price of $83.19. The company has a market cap of $11.12 billion, a PE ratio of 37.93, a price-to-earnings-growth ratio of 3.07 and a beta of 0.56.

Sprouts Farmers Market (NASDAQ:SFM) last released its quarterly earnings results on Monday, July 29th. The company reported $0.94 EPS for the quarter, beating analysts’ consensus estimates of $0.78 by $0.16. The business had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.84 billion. Sprouts Farmers Market had a return on equity of 27.53% and a net margin of 4.52%. Sprouts Farmers Market’s quarterly revenue was up 12.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.71 EPS. Equities analysts anticipate that Sprouts Farmers Market, Inc. will post 3.37 earnings per share for the current fiscal year.

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.