CIBC Private Wealth Group LLC Has $71.06 Million Stake in Sprouts Farmers Market, Inc. (NASDAQ:SFM)

CIBC Private Wealth Group LLC reduced its holdings in shares of Sprouts Farmers Market, Inc. (NASDAQ:SFM) by 3.2% in the fourth quarter, HoldingsChannel.com reports. The fund owned 506,874 shares of the company’s stock after selling 16,904 shares during the quarter. CIBC Private Wealth Group LLC’s holdings in Sprouts Farmers Market were worth $71,064,000 at the end of the most recent quarter.

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

Sprouts Farmers Market Price Performance

Shares of NASDAQ SFM opened at $147.76 on Monday. The company has a quick ratio of 0.59, a current ratio of 1.13 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $14.49 billion, a PE ratio of 39.30, a PEG ratio of 2.31 and a beta of 0.67. The stock’s 50 day moving average price is $151.77 and its 200-day moving average price is $137.71. Sprouts Farmers Market, Inc. has a twelve month low of $61.61 and a twelve month high of $178.99.

Sprouts Farmers Market (NASDAQ:SFM) last announced its quarterly earnings data on Thursday, February 20th. The company reported $0.79 earnings per share (EPS) for the quarter, beating 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 return on equity of 29.86% and a net margin of 4.93%. On average, equities analysts anticipate that Sprouts Farmers Market, Inc. will post 4.29 EPS for the current year.

Analyst Ratings Changes

Several brokerages have issued reports on SFM. UBS Group increased their price target on Sprouts Farmers Market from $132.00 to $195.00 and gave the stock a “neutral” rating in a report on Wednesday, February 19th. Evercore ISI reduced their price target on shares of Sprouts Farmers Market from $185.00 to $180.00 and set an “outperform” rating for the company in a research report on Tuesday, March 11th. Bank of America upped their price objective on shares of Sprouts Farmers Market from $165.00 to $185.00 and gave the stock a “buy” rating in a report on Tuesday, February 11th. Northcoast Research upgraded shares of Sprouts Farmers Market from a “neutral” rating to a “buy” rating and set a $185.00 price objective for the company in a report on Friday, February 28th. Finally, Wells Fargo & Company upped their target price on shares of Sprouts Farmers Market from $140.00 to $170.00 and gave the stock an “equal weight” rating in a report on Friday, February 21st. Ten analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, Sprouts Farmers Market presently has an average rating of “Hold” and an average target price of $167.00.

Insider Buying and Selling

In other Sprouts Farmers Market news, COO Nicholas Konat sold 11,283 shares of the stock in a transaction on Monday, March 24th. The stock was sold at an average price of $143.13, for a total transaction of $1,614,935.79. Following the completion of the transaction, the chief operating officer now directly owns 55,675 shares of the company’s stock, valued at approximately $7,968,762.75. This represents a 16.85 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Jack Sinclair sold 49,898 shares of the firm’s stock in a transaction on Monday, March 17th. The stock was 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 $26,034,081.58. This represents a 20.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 94,784 shares of company stock worth $13,231,786. Insiders own 1.10% of the company’s stock.

Sprouts Farmers Market Company 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.