Corebridge Financial Inc. Trims Holdings in Sprouts Farmers Market, Inc. (NASDAQ:SFM)

Corebridge Financial Inc. lowered its stake in shares of Sprouts Farmers Market, Inc. (NASDAQ:SFM) by 5.2% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 162,535 shares of the company’s stock after selling 8,995 shares during the period. Corebridge Financial Inc. owned approximately 0.16% of Sprouts Farmers Market worth $20,653,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in SFM. Wesbanco Bank Inc. boosted its position in shares of Sprouts Farmers Market by 0.3% during the fourth quarter. Wesbanco Bank Inc. now owns 28,659 shares of the company’s stock worth $3,642,000 after buying an additional 77 shares during the period. EverSource Wealth Advisors LLC boosted its holdings in Sprouts Farmers Market by 4.1% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,975 shares of the company’s stock valued at $251,000 after acquiring an additional 77 shares during the period. Greenleaf Trust grew its position in Sprouts Farmers Market by 1.2% in the 4th quarter. Greenleaf Trust now owns 6,715 shares of the company’s stock valued at $853,000 after acquiring an additional 80 shares in the last quarter. Foundations Investment Advisors LLC increased its stake in Sprouts Farmers Market by 1.4% during the fourth quarter. Foundations Investment Advisors LLC now owns 6,649 shares of the company’s stock worth $845,000 after purchasing an additional 90 shares during the period. Finally, Ballentine Partners LLC lifted its position in shares of Sprouts Farmers Market by 2.6% during the fourth quarter. Ballentine Partners LLC now owns 3,849 shares of the company’s stock worth $489,000 after purchasing an additional 96 shares in the last quarter.

Insider Activity

In other news, CEO Jack Sinclair sold 49,898 shares of the company’s stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $137.42, for a total value of $6,856,983.16. Following the completion of the sale, the chief executive officer now directly owns 189,449 shares of the company’s stock, valued at approximately $26,034,081.58. This represents a 20.85 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Stacy W. Hilgendorf sold 229 shares of the firm’s stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $139.43, for a total value of $31,929.47. Following the transaction, the vice president now directly owns 10,226 shares in the company, valued at approximately $1,425,811.18. This represents a 2.19 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 83,501 shares of company stock valued at $11,616,851. 1.10% of the stock is currently owned by company insiders.

Sprouts Farmers Market Price Performance

Shares of NASDAQ:SFM opened at $145.42 on Tuesday. Sprouts Farmers Market, Inc. has a 12 month low of $61.61 and a 12 month high of $178.99. The firm has a market capitalization of $14.26 billion, a P/E ratio of 38.68, a P/E/G ratio of 2.31 and a beta of 0.67. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.13 and a quick ratio of 0.59. The company’s fifty day moving average price is $151.01 and its 200 day moving average price is $136.34.

Sprouts Farmers Market (NASDAQ:SFM) last posted its earnings results on Thursday, February 20th. The company reported $0.79 EPS for the quarter, topping analysts’ consensus estimates of $0.72 by $0.07. The business had revenue of $2 billion for the quarter, compared to analysts’ expectations of $1.96 billion. Sprouts Farmers Market had a return on equity of 29.86% and a net margin of 4.93%. As a group, sell-side analysts predict that Sprouts Farmers Market, Inc. will post 4.29 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft upgraded shares of Sprouts Farmers Market from a “hold” rating to a “buy” rating and lifted their price objective for the company from $163.00 to $190.00 in a report on Monday, March 17th. Roth Mkm increased their price objective on Sprouts Farmers Market from $105.00 to $146.00 and gave the company a “neutral” rating in a research note on Friday, February 21st. Northcoast Research raised Sprouts Farmers Market from a “neutral” rating to a “buy” rating and set a $185.00 target price for the company in a research note on Friday, February 28th. The Goldman Sachs Group increased their price target on Sprouts Farmers Market from $174.00 to $200.00 and gave the company a “buy” rating in a research report on Friday, February 21st. Finally, Wells Fargo & Company boosted their price objective on Sprouts Farmers Market from $140.00 to $170.00 and gave the stock an “equal weight” rating in a research report on Friday, February 21st. Nine equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, Sprouts Farmers Market currently has a consensus rating of “Hold” and an average price target of $162.92.

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.