OLD National Bancorp IN Makes New $316,000 Investment in Sprouts Farmers Market, Inc. (NASDAQ:SFM)

OLD National Bancorp IN bought a new stake in Sprouts Farmers Market, Inc. (NASDAQ:SFM) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 3,772 shares of the company’s stock, valued at approximately $316,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in SFM. Rise Advisors LLC acquired a new stake in shares of Sprouts Farmers Market in the first quarter valued at approximately $26,000. Blue Bell Private Wealth Management LLC purchased a new position in Sprouts Farmers Market in the first quarter valued at $36,000. Bank Julius Baer & Co. Ltd Zurich purchased a new stake in Sprouts Farmers Market during the 4th quarter worth about $38,000. GAMMA Investing LLC acquired a new stake in Sprouts Farmers Market in the fourth quarter valued at approximately $43,000. Finally, ICA Group Wealth Management LLC acquired a new stake in shares of Sprouts Farmers Market in the 4th quarter valued at $53,000.

Sprouts Farmers Market Trading Up 0.4 %

Shares of Sprouts Farmers Market stock traded up $0.36 during trading on Friday, hitting $96.28. 981,278 shares of the company were exchanged, compared to its average volume of 1,376,044. The firm’s fifty day moving average price is $83.68 and its 200 day moving average price is $70.71. Sprouts Farmers Market, Inc. has a 1-year low of $37.16 and a 1-year high of $103.80. The firm has a market capitalization of $9.64 billion, a P/E ratio of 33.20, a price-to-earnings-growth ratio of 2.70 and a beta of 0.55. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.03 and a quick ratio of 0.44.

Sprouts Farmers Market (NASDAQ:SFM) last released its quarterly earnings results on Monday, July 29th. The company reported $0.94 EPS for the quarter, beating the consensus estimate of $0.78 by $0.16. Sprouts Farmers Market had a net margin of 4.52% and a return on equity of 27.53%. The business had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.84 billion. During the same period in the prior year, the company posted $0.71 earnings per share. Sprouts Farmers Market’s revenue was up 12.3% compared to the same quarter last year. As a group, sell-side analysts expect that Sprouts Farmers Market, Inc. will post 3.37 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Wells Fargo & Company upgraded shares of Sprouts Farmers Market from an “underweight” rating to an “equal weight” rating and boosted their price objective for the stock from $62.00 to $90.00 in a research report on Tuesday, July 30th. BMO Capital Markets upgraded Sprouts Farmers Market from an “underperform” rating to a “market perform” rating and lifted their target price for the stock from $40.00 to $102.00 in a research report on Tuesday, July 30th. The Goldman Sachs Group upped their price target on shares of Sprouts Farmers Market from $89.00 to $111.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Sprouts Farmers Market from $63.00 to $76.00 and gave the company a “hold” rating in a research note on Monday, July 29th. Finally, UBS Group boosted their price target on Sprouts Farmers Market from $68.00 to $94.00 and gave the company a “neutral” rating in a research report on Friday, June 28th. Eight equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Sprouts Farmers Market currently has a consensus rating of “Hold” and an average target price of $93.38.

Insider Transactions at Sprouts Farmers Market

In other news, CEO Jack Sinclair sold 5,718 shares of the company’s stock in a transaction on Thursday, June 20th. The stock was sold at an average price of $77.07, for a total transaction of $440,686.26. Following the transaction, the chief executive officer now owns 256,716 shares of the company’s stock, valued at approximately $19,785,102.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Timmi Zalatoris sold 56,800 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $100.00, for a total transaction of $5,680,000.00. Following the transaction, the insider now directly owns 10,895 shares in the company, valued at approximately $1,089,500. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Jack Sinclair sold 5,718 shares of Sprouts Farmers Market stock in a transaction on Thursday, June 20th. The stock was sold at an average price of $77.07, for a total transaction of $440,686.26. Following the completion of the transaction, the chief executive officer now directly owns 256,716 shares in the company, valued at $19,785,102.12. The disclosure for this sale can be found here. Insiders have sold 109,596 shares of company stock worth $10,509,596 in the last 90 days. Insiders own 1.10% of the company’s stock.

Sprouts Farmers Market Company Profile

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.