Sprouts Farmers Market (NASDAQ:SFM) Hits New 12-Month Low – Here’s Why

Shares of Sprouts Farmers Market, Inc. (NASDAQ:SFM) reached a new 52-week low on Monday . The stock traded as low as $69.23 and last traded at $69.5350, with a volume of 936364 shares traded. The stock had previously closed at $70.91.

Analysts Set New Price Targets

Several brokerages recently issued reports on SFM. JPMorgan Chase & Co. cut their target price on shares of Sprouts Farmers Market from $124.00 to $91.00 and set a “neutral” rating for the company in a research report on Thursday, October 30th. The Goldman Sachs Group lowered their price target on shares of Sprouts Farmers Market from $178.00 to $152.00 and set a “buy” rating for the company in a report on Thursday, October 30th. Weiss Ratings reiterated a “hold (c)” rating on shares of Sprouts Farmers Market in a report on Monday, December 29th. Barclays cut their target price on shares of Sprouts Farmers Market from $185.00 to $122.00 and set an “overweight” rating on the stock in a research note on Thursday, October 30th. Finally, UBS Group set a $108.00 price target on Sprouts Farmers Market in a research report on Thursday, October 30th. Eight equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $129.38.

Sprouts Farmers Market Stock Down 2.8%

The company has a market cap of $6.71 billion, a P/E ratio of 13.35, a P/E/G ratio of 0.71 and a beta of 0.73. The company’s 50-day moving average is $79.04 and its two-hundred day moving average is $107.34. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.05 and a quick ratio of 0.53.

Insider Buying and Selling at Sprouts Farmers Market

In other Sprouts Farmers Market news, CMO Alisa Gmelich sold 3,161 shares of Sprouts Farmers Market stock in a transaction that occurred on Friday, December 12th. The shares were sold at an average price of $79.39, for a total value of $250,951.79. Following the completion of the sale, the chief marketing officer owned 5,552 shares of the company’s stock, valued at approximately $440,773.28. The trade was a 36.28% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider John Scott Neal sold 17,471 shares of Sprouts Farmers Market stock in a transaction on Wednesday, December 3rd. The stock was sold at an average price of $85.20, for a total value of $1,488,529.20. Following the completion of the sale, the insider directly owned 14,178 shares of the company’s stock, valued at $1,207,965.60. The trade was a 55.20% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 1.10% of the company’s stock.

Hedge Funds Weigh In On Sprouts Farmers Market

A number of institutional investors and hedge funds have recently made changes to their positions in SFM. Bank of America Corp DE boosted its stake in shares of Sprouts Farmers Market by 137.0% during the 2nd quarter. Bank of America Corp DE now owns 2,584,923 shares of the company’s stock worth $425,582,000 after acquiring an additional 1,494,014 shares during the last quarter. Voloridge Investment Management LLC boosted its stake in shares of Sprouts Farmers Market by 652.7% in the third quarter. Voloridge Investment Management LLC now owns 1,411,246 shares of the company’s stock worth $153,544,000 after acquiring an additional 1,223,753 shares during the period. Norges Bank bought a new position in Sprouts Farmers Market in the 2nd quarter worth approximately $198,080,000. Two Sigma Investments LP boosted its position in shares of Sprouts Farmers Market by 185.2% during the third quarter. Two Sigma Investments LP now owns 1,300,786 shares of the company’s stock worth $141,526,000 after acquiring an additional 844,717 shares during the last quarter. Finally, Qube Research & Technologies Ltd boosted its holdings in shares of Sprouts Farmers Market by 157.3% during the 2nd quarter. Qube Research & Technologies Ltd now owns 1,248,891 shares of the company’s stock valued at $205,617,000 after purchasing an additional 763,422 shares during the last quarter.

About Sprouts Farmers Market

Sprouts Farmers Market, Inc (NASDAQ: SFM) is a specialty grocery retailer focused on fresh, natural and organic foods. Headquartered in Phoenix, Arizona, the company operates stores designed to offer an open-market shopping experience, emphasizing quality produce sourced from regional farmers alongside organic pantry staples, dairy, meat and seafood. Sprouts’ product assortment also includes bulk foods, vitamins and supplements, a deli and prepared foods, reflecting its commitment to wellness and affordable healthy living.

Founded in 2002 by members of the Boney family, Sprouts began as a single farmers market in Chandler, Arizona.