Sprouts Farmers Market, Inc. (NASDAQ:SFM) Sees Large Drop in Short Interest

Sprouts Farmers Market, Inc. (NASDAQ:SFM) was the target of a large decrease in short interest in the month of February. As of February 28th, there was short interest totalling 5,620,000 shares, a decrease of 15.5% from the February 13th total of 6,650,000 shares. Based on an average trading volume of 1,490,000 shares, the short-interest ratio is currently 3.8 days. Approximately 5.7% of the company’s shares are short sold.

Sprouts Farmers Market Stock Up 3.1 %

SFM stock opened at $140.99 on Tuesday. Sprouts Farmers Market has a twelve month low of $60.46 and a twelve month high of $178.99. The company has a current ratio of 1.13, a quick ratio of 0.59 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $13.90 billion, a P/E ratio of 37.50, a PEG ratio of 2.31 and a beta of 0.67. The firm has a 50 day simple moving average of $150.81 and a 200-day simple moving average of $134.93.

Sprouts Farmers Market (NASDAQ:SFM) last released its quarterly earnings data on Thursday, February 20th. The company reported $0.79 EPS for the quarter, topping analysts’ consensus estimates of $0.72 by $0.07. The firm had revenue of $2 billion during the quarter, compared to the consensus estimate of $1.96 billion. Sprouts Farmers Market had a net margin of 4.93% and a return on equity of 29.86%. On average, equities research analysts predict that Sprouts Farmers Market will post 4.29 earnings per share for the current fiscal year.

Insider Transactions at Sprouts Farmers Market

In related news, Director Joe Fortunato sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $144.80, for a total value of $724,000.00. Following the transaction, the director now owns 28,571 shares in the company, valued at approximately $4,137,080.80. This trade represents a 14.89 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Jack Sinclair sold 2,915 shares of the firm’s stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $167.54, for a total transaction of $488,379.10. Following the completion of the transaction, the chief executive officer now owns 143,669 shares in the company, valued at $24,070,304.26. The trade was a 1.99 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 10,850 shares of company stock worth $1,619,581 in the last three months. Company insiders own 1.10% of the company’s stock.

Hedge Funds Weigh In On Sprouts Farmers Market

A number of hedge funds have recently added to or reduced their stakes in SFM. Mirae Asset Global Investments Co. Ltd. acquired a new position in Sprouts Farmers Market in the fourth quarter worth $31,000. Avior Wealth Management LLC lifted its stake in Sprouts Farmers Market by 93.5% in the fourth quarter. Avior Wealth Management LLC now owns 269 shares of the company’s stock valued at $34,000 after buying an additional 130 shares during the last quarter. GeoWealth Management LLC lifted its stake in Sprouts Farmers Market by 115.4% in the fourth quarter. GeoWealth Management LLC now owns 265 shares of the company’s stock valued at $34,000 after buying an additional 142 shares during the last quarter. Global Retirement Partners LLC lifted its stake in Sprouts Farmers Market by 84.1% in the fourth quarter. Global Retirement Partners LLC now owns 289 shares of the company’s stock valued at $37,000 after buying an additional 132 shares during the last quarter. Finally, First Horizon Advisors Inc. lifted its stake in Sprouts Farmers Market by 80.6% in the third quarter. First Horizon Advisors Inc. now owns 363 shares of the company’s stock valued at $40,000 after buying an additional 162 shares during the last quarter.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Roth Mkm raised their price target on shares of Sprouts Farmers Market from $105.00 to $146.00 and gave the company a “neutral” rating in a report on Friday, February 21st. The Goldman Sachs Group raised their price target on shares of Sprouts Farmers Market from $174.00 to $200.00 and gave the company a “buy” rating in a report on Friday, February 21st. Wells Fargo & Company increased their price objective on shares of Sprouts Farmers Market from $140.00 to $170.00 and gave the company an “equal weight” rating in a research report on Friday, February 21st. Deutsche Bank Aktiengesellschaft raised shares of Sprouts Farmers Market from a “hold” rating to a “buy” rating and increased their price objective for the company from $163.00 to $190.00 in a research report on Monday. Finally, Bank of America increased their price objective on shares of Sprouts Farmers Market from $165.00 to $185.00 and gave the company a “buy” rating in a research report on Tuesday, February 11th. 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, the stock has an average 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.