Balboa Wealth Partners Sells 2,071 Shares of Sprouts Farmers Market, Inc. (NASDAQ:SFM)

Balboa Wealth Partners lessened its holdings in Sprouts Farmers Market, Inc. (NASDAQ:SFM) by 48.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,221 shares of the company’s stock after selling 2,071 shares during the quarter. Balboa Wealth Partners’ holdings in Sprouts Farmers Market were worth $245,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of SFM. UMB Bank n.a. boosted its stake in shares of Sprouts Farmers Market by 26.3% in the 3rd quarter. UMB Bank n.a. now owns 605 shares of the company’s stock valued at $67,000 after purchasing an additional 126 shares in the last quarter. Mercer Global Advisors Inc. ADV boosted its stake in shares of Sprouts Farmers Market by 0.8% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 18,717 shares of the company’s stock valued at $1,566,000 after purchasing an additional 148 shares in the last quarter. Sequoia Financial Advisors LLC boosted its stake in shares of Sprouts Farmers Market by 4.5% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 3,645 shares of the company’s stock valued at $402,000 after purchasing an additional 158 shares in the last quarter. Hanseatic Management Services Inc. boosted its stake in shares of Sprouts Farmers Market by 23.3% in the 3rd quarter. Hanseatic Management Services Inc. now owns 931 shares of the company’s stock valued at $103,000 after purchasing an additional 176 shares in the last quarter. Finally, Ironwood Investment Counsel LLC boosted its stake in shares of Sprouts Farmers Market by 3.8% in the 1st quarter. Ironwood Investment Counsel LLC now owns 5,277 shares of the company’s stock valued at $340,000 after purchasing an additional 195 shares in the last quarter.

Insider Activity

In related news, insider Dustin Hamilton sold 500 shares of the stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $97.52, for a total transaction of $48,760.00. Following the completion of the sale, the insider now directly owns 27,188 shares of the company’s stock, valued at approximately $2,651,373.76. This represents a 1.81 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jack Sinclair sold 5,714 shares of the stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $132.60, for a total value of $757,676.40. Following the sale, the chief executive officer now directly owns 199,576 shares of the company’s stock, valued at approximately $26,463,777.60. The trade was a 2.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 50,648 shares of company stock valued at $5,902,586 in the last ninety days. 1.10% of the stock is owned by insiders.

Sprouts Farmers Market Stock Performance

Sprouts Farmers Market stock opened at $142.00 on Friday. The company has a current ratio of 1.13, a quick ratio of 0.59 and a debt-to-equity ratio of 0.01. Sprouts Farmers Market, Inc. has a 1 year low of $40.39 and a 1 year high of $148.56. The company has a market cap of $14.20 billion, a PE ratio of 41.04, a PEG ratio of 2.20 and a beta of 0.54. The company’s 50-day moving average is $118.29 and its two-hundred day moving average is $96.67.

Sprouts Farmers Market (NASDAQ:SFM) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.77 by $0.14. The company had revenue of $1.95 billion during the quarter, compared to analysts’ expectations of $1.88 billion. Sprouts Farmers Market had a return on equity of 28.24% and a net margin of 4.73%. Sprouts Farmers Market’s revenue was up 13.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.65 EPS. Equities analysts anticipate that Sprouts Farmers Market, Inc. will post 3.68 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages have recently commented on SFM. StockNews.com downgraded shares of Sprouts Farmers Market from a “buy” rating to a “hold” rating in a research note on Tuesday. BMO Capital Markets upped their price target on shares of Sprouts Farmers Market from $102.00 to $140.00 and gave the stock a “market perform” rating in a research report on Thursday, October 31st. Bank of America upped their price target 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. Roth Mkm upped their price target on shares of Sprouts Farmers Market from $58.00 to $78.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 30th. Finally, Royal Bank of Canada initiated coverage on shares of Sprouts Farmers Market in a research report on Thursday, September 12th. They set a “sector perform” rating and a $107.00 price target on the stock. Nine equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $115.40.

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.