Suntrust Banks Inc. bought a new position in shares of Sprouts Farmers Market Inc (NASDAQ:SFM) during the fourth quarter, Holdings Channel reports. The institutional investor bought 10,099 shares of the company’s stock, valued at approximately $245,000.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Acadian Asset Management LLC purchased a new stake in shares of Sprouts Farmers Market during the fourth quarter worth about $224,000. State of Alaska Department of Revenue purchased a new stake in shares of Sprouts Farmers Market during the fourth quarter worth about $233,000. ING Groep NV purchased a new stake in shares of Sprouts Farmers Market during the fourth quarter worth about $257,000. Sadoff Investment Management LLC purchased a new stake in shares of Sprouts Farmers Market during the third quarter worth about $223,000. Finally, LS Investment Advisors LLC increased its position in shares of Sprouts Farmers Market by 28.5% during the fourth quarter. LS Investment Advisors LLC now owns 12,562 shares of the company’s stock worth $306,000 after acquiring an additional 2,785 shares during the last quarter. 90.96% of the stock is currently owned by institutional investors and hedge funds.
A number of brokerages have recently issued reports on SFM. Susquehanna Bancshares set a $30.00 target price on Sprouts Farmers Market and gave the stock a “buy” rating in a research report on Thursday, January 11th. Zacks Investment Research raised Sprouts Farmers Market from a “hold” rating to a “buy” rating and set a $29.00 target price on the stock in a research report on Wednesday, February 28th. Northcoast Research set a $32.00 target price on Sprouts Farmers Market and gave the stock a “buy” rating in a research report on Tuesday, February 27th. Citigroup lifted their target price on Sprouts Farmers Market from $29.00 to $30.00 and gave the stock a “buy” rating in a research report on Tuesday, February 27th. Finally, BMO Capital Markets set a $29.00 target price on Sprouts Farmers Market and gave the stock a “hold” rating in a research report on Tuesday, February 27th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $26.95.
Shares of Sprouts Farmers Market Inc (SFM) opened at $25.23 on Friday. The company has a quick ratio of 0.23, a current ratio of 1.00 and a debt-to-equity ratio of 0.73. The firm has a market capitalization of $3,363.44, a PE ratio of 24.98, a P/E/G ratio of 1.53 and a beta of 0.84. Sprouts Farmers Market Inc has a fifty-two week low of $17.55 and a fifty-two week high of $28.29.
Sprouts Farmers Market (NASDAQ:SFM) last posted its earnings results on Thursday, February 22nd. The company reported $0.16 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.15 by $0.01. The company had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.14 billion. Sprouts Farmers Market had a return on equity of 21.81% and a net margin of 3.40%. The business’s revenue was up 16.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.13 earnings per share. equities analysts anticipate that Sprouts Farmers Market Inc will post 1.27 EPS for the current year.
Sprouts Farmers Market declared that its board has approved a stock buyback plan on Thursday, February 22nd that authorizes the company to buyback $350.00 million in shares. This buyback authorization authorizes the company to purchase shares of its stock through open market purchases. Shares buyback plans are usually a sign that the company’s management believes its shares are undervalued.
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About Sprouts Farmers Market
Sprouts Farmers Market, Inc is a food retailer. The Company operates as a grocery store that offers fresh, natural and organic food that includes fresh produce, bulk foods, vitamins and supplements, packaged groceries, meat and seafood, deli, baked goods, dairy products, frozen foods, body care and natural household items catering to consumers’ interest in health and wellness.
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