Legacy Wealth Asset Management LLC Takes $318,000 Position in Sprouts Farmers Market, Inc. (NASDAQ:SFM)

Legacy Wealth Asset Management LLC acquired a new stake in shares of Sprouts Farmers Market, Inc. (NASDAQ:SFM) in the 4th quarter, Holdings Channel.com reports. The institutional investor acquired 2,501 shares of the company’s stock, valued at approximately $318,000.

Several other hedge funds have also recently made changes to their positions in SFM. JPMorgan Chase & Co. increased its holdings in Sprouts Farmers Market by 13.1% during the third quarter. JPMorgan Chase & Co. now owns 1,349,694 shares of the company’s stock valued at $149,020,000 after buying an additional 156,175 shares during the last quarter. World Investment Advisors LLC purchased a new stake in Sprouts Farmers Market during the third quarter valued at approximately $13,348,000. SpiderRock Advisors LLC purchased a new stake in shares of Sprouts Farmers Market in the third quarter worth $3,252,000. Charles Schwab Investment Management Inc. increased its stake in shares of Sprouts Farmers Market by 5.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 983,257 shares of the company’s stock worth $108,561,000 after purchasing an additional 48,103 shares in the last quarter. Finally, First Hawaiian Bank purchased a new stake in shares of Sprouts Farmers Market in the fourth quarter worth $1,517,000.

Sprouts Farmers Market Price Performance

SFM stock opened at $139.25 on Friday. Sprouts Farmers Market, Inc. has a 52 week low of $48.98 and a 52 week high of $155.64. 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 fifty day simple moving average of $141.53 and a two-hundred day simple moving average of $116.57. The firm has a market capitalization of $13.92 billion, a P/E ratio of 40.25, a price-to-earnings-growth ratio of 1.82 and a beta of 0.63.

Sprouts Farmers Market (NASDAQ:SFM) last released its quarterly earnings data on Wednesday, October 30th. The company reported $0.91 EPS for the quarter, beating the consensus estimate of $0.77 by $0.14. Sprouts Farmers Market had a net margin of 4.73% and a return on equity of 28.24%. The business had revenue of $1.95 billion during the quarter, compared to analyst estimates of $1.88 billion. During the same quarter last year, the business earned $0.65 earnings per share. Sprouts Farmers Market’s quarterly revenue was up 13.6% compared to the same quarter last year. Analysts anticipate that Sprouts Farmers Market, Inc. will post 3.68 earnings per share for the current fiscal year.

Insider Activity

In other Sprouts Farmers Market news, Director Joseph D. O’leary sold 350 shares of the firm’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $150.11, for a total transaction of $52,538.50. Following the transaction, the director now owns 17,991 shares of the company’s stock, valued at approximately $2,700,629.01. This trade represents a 1.91 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Joseph L. Hurley sold 4,956 shares of the firm’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $132.66, for a total transaction of $657,462.96. Following the transaction, the insider now directly owns 11,184 shares in the company, valued at $1,483,669.44. This trade represents a 30.71 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 61,869 shares of company stock valued at $8,778,152. 1.10% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of brokerages have recently issued reports on SFM. StockNews.com raised shares of Sprouts Farmers Market from a “hold” rating to a “buy” rating in a research note on Wednesday. Wells Fargo & Company increased their price objective on shares of Sprouts Farmers Market from $90.00 to $130.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 31st. BMO Capital Markets increased their price objective on shares of Sprouts Farmers Market from $102.00 to $140.00 and gave the stock a “market perform” rating in a research note on Thursday, October 31st. The Goldman Sachs Group upped their target price on shares of Sprouts Farmers Market from $127.00 to $159.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Finally, Bank of America upped their target price on shares of Sprouts Farmers Market from $115.00 to $135.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. Eight equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, Sprouts Farmers Market currently has a consensus rating of “Hold” and an average price target of $118.40.

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.