Pekin Hardy Strauss Inc. Sells 87,290 Shares of Sprouts Farmers Market, Inc. (NASDAQ:SFM)

Pekin Hardy Strauss Inc. lessened its stake in shares of Sprouts Farmers Market, Inc. (NASDAQ:SFM) by 84.5% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 16,025 shares of the company’s stock after selling 87,290 shares during the period. Pekin Hardy Strauss Inc.’s holdings in Sprouts Farmers Market were worth $1,341,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Ironwood Investment Counsel LLC increased its position in Sprouts Farmers Market by 3.8% during the 1st quarter. Ironwood Investment Counsel LLC now owns 5,277 shares of the company’s stock valued at $340,000 after buying an additional 195 shares in the last quarter. Parallel Advisors LLC boosted its stake in Sprouts Farmers Market by 11.7% during the 4th quarter. Parallel Advisors LLC now owns 1,987 shares of the company’s stock valued at $96,000 after purchasing an additional 208 shares during the last quarter. Nations Financial Group Inc. IA ADV boosted its stake in Sprouts Farmers Market by 3.1% during the 4th quarter. Nations Financial Group Inc. IA ADV now owns 7,149 shares of the company’s stock valued at $344,000 after purchasing an additional 216 shares during the last quarter. Crewe Advisors LLC boosted its stake in Sprouts Farmers Market by 223.5% during the 2nd quarter. Crewe Advisors LLC now owns 317 shares of the company’s stock valued at $27,000 after purchasing an additional 219 shares during the last quarter. Finally, CreativeOne Wealth LLC boosted its stake in Sprouts Farmers Market by 4.5% during the 4th quarter. CreativeOne Wealth LLC now owns 5,137 shares of the company’s stock valued at $247,000 after purchasing an additional 220 shares during the last quarter.

Wall Street Analyst Weigh In

SFM has been the topic of several recent analyst reports. The Goldman Sachs Group increased their target price on Sprouts Farmers Market from $89.00 to $111.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. BMO Capital Markets upgraded Sprouts Farmers Market from an “underperform” rating to a “market perform” rating and increased their target price for the company from $40.00 to $102.00 in a research note on Tuesday, July 30th. Wells Fargo & Company upgraded Sprouts Farmers Market from an “underweight” rating to an “equal weight” rating and increased their target price for the company from $62.00 to $90.00 in a research note on Tuesday, July 30th. Roth Mkm raised their price target on Sprouts Farmers Market from $58.00 to $78.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 30th. Finally, UBS Group raised their price target on Sprouts Farmers Market from $68.00 to $94.00 and gave the stock a “neutral” rating in a research note on Friday, June 28th. Eight equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $99.22.

Insider Buying and Selling at Sprouts Farmers Market

In other news, insider Timmi Zalatoris sold 56,800 shares of Sprouts Farmers Market stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $100.00, for a total value of $5,680,000.00. Following the sale, the insider now directly owns 10,895 shares of the company’s stock, valued at $1,089,500. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider John Scott Neal sold 6,535 shares of Sprouts Farmers Market stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $102.29, for a total value of $668,465.15. Following the completion of the transaction, the insider now owns 14,293 shares in the company, valued at $1,462,030.97. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Timmi Zalatoris sold 56,800 shares of Sprouts Farmers Market stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $100.00, for a total value of $5,680,000.00. Following the completion of the transaction, the insider now owns 10,895 shares of the company’s stock, valued at approximately $1,089,500. The disclosure for this sale can be found here. Insiders have sold a total of 128,939 shares of company stock valued at $12,571,295 over the last ninety days. 1.10% of the stock is currently owned by company insiders.

Sprouts Farmers Market Price Performance

NASDAQ SFM opened at $106.61 on Tuesday. The company has a market capitalization of $10.71 billion, a PE ratio of 36.76, a price-to-earnings-growth ratio of 2.89 and a beta of 0.56. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.44 and a current ratio of 1.03. The business’s fifty day moving average is $93.85 and its 200 day moving average is $79.22. Sprouts Farmers Market, Inc. has a fifty-two week low of $39.50 and a fifty-two week high of $107.90.

Sprouts Farmers Market (NASDAQ:SFM) last posted 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 for the quarter, compared to analysts’ expectations of $1.84 billion. Sprouts Farmers Market had a return on equity of 27.53% and a net margin of 4.52%. The business’s quarterly revenue was up 12.3% on a year-over-year basis. During the same period last year, the firm earned $0.71 earnings per share. Sell-side analysts predict that Sprouts Farmers Market, Inc. will post 3.37 earnings per share for the current 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.