Ellington Management Group LLC Takes Position in Sprouts Farmers Market Inc (SFM)
Ellington Management Group LLC purchased a new position in Sprouts Farmers Market Inc (NASDAQ:SFM) during the 4th quarter, HoldingsChannel reports. The fund purchased 135,300 shares of the company’s stock, valued at approximately $3,295,000. Sprouts Farmers Market accounts for 0.5% of Ellington Management Group LLC’s investment portfolio, making the stock its 17th largest holding.
A number of other hedge funds have also recently modified their holdings of the stock. AGF Investments Inc. grew its stake in Sprouts Farmers Market by 6.0% in the fourth quarter. AGF Investments Inc. now owns 33,824 shares of the company’s stock worth $824,000 after purchasing an additional 1,913 shares during the period. LS Investment Advisors LLC grew its stake in shares of Sprouts Farmers Market by 28.5% in 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. AE Wealth Management LLC grew its stake in shares of Sprouts Farmers Market by 6.7% in the fourth quarter. AE Wealth Management LLC now owns 51,660 shares of the company’s stock worth $1,258,000 after acquiring an additional 3,238 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Sprouts Farmers Market by 0.3% in the fourth quarter. Geode Capital Management LLC now owns 1,113,252 shares of the company’s stock worth $27,106,000 after acquiring an additional 3,336 shares during the last quarter. Finally, FDx Advisors Inc. grew its stake in shares of Sprouts Farmers Market by 13.2% in the third quarter. FDx Advisors Inc. now owns 33,108 shares of the company’s stock worth $621,000 after acquiring an additional 3,850 shares during the last quarter. 90.96% of the stock is currently owned by institutional investors.
In other news, insider Theodore Edward Frumkin II sold 1,722 shares of the company’s stock in a transaction on Monday, March 5th. The stock was sold at an average price of $25.24, for a total transaction of $43,463.28. Following the transaction, the insider now directly owns 37,125 shares of the company’s stock, valued at $937,035. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Amin N. Maredia sold 12,301 shares of the company’s stock in a transaction on Tuesday, January 2nd. The shares were sold at an average price of $24.33, for a total value of $299,283.33. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,675,741 shares of company stock worth $43,621,557. Corporate insiders own 2.60% of the company’s stock.
Sprouts Farmers Market (NASDAQ:SFM) last announced its quarterly earnings results on Thursday, February 22nd. The company reported $0.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.15 by $0.01. The firm had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.14 billion. Sprouts Farmers Market had a return on equity of 21.81% and a net margin of 3.40%. The company’s quarterly revenue was up 16.0% on a year-over-year basis. During the same period in the prior year, the company posted $0.13 earnings per share. analysts predict that Sprouts Farmers Market Inc will post 1.27 EPS for the current year.
Sprouts Farmers Market declared that its board has authorized a share repurchase plan on Thursday, February 22nd that permits the company to repurchase $350.00 million in outstanding shares. This repurchase authorization permits the company to reacquire shares of its stock through open market purchases. Shares repurchase plans are typically an indication that the company’s board believes its shares are undervalued.
A number of research firms have recently commented on SFM. Gordon Haskett raised Sprouts Farmers Market from an “accumulate” rating to a “buy” rating and set a $27.00 target price on the stock in a research note on Wednesday, January 31st. BidaskClub raised Sprouts Farmers Market from a “buy” rating to a “strong-buy” rating in a research note on Thursday, January 25th. BMO Capital Markets reissued a “hold” rating and issued a $32.00 target price on shares of Sprouts Farmers Market in a research note on Wednesday, January 24th. Royal Bank of Canada reissued a “buy” rating and issued a $32.00 target price on shares of Sprouts Farmers Market in a research note on Friday, February 2nd. Finally, Oppenheimer increased their target price on Sprouts Farmers Market from $28.00 to $31.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 6th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Sprouts Farmers Market has an average rating of “Buy” and a consensus target price of $26.95.
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Sprouts Farmers Market Profile
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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