Renasant Bank Invests $260,000 in Sprouts Farmers Market, Inc. (NASDAQ:SFM)

Renasant Bank purchased a new position in Sprouts Farmers Market, Inc. (NASDAQ:SFM) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 2,047 shares of the company’s stock, valued at approximately $260,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Accent Capital Management LLC purchased a new stake in Sprouts Farmers Market during the 3rd quarter valued at $25,000. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Sprouts Farmers Market during the fourth quarter valued at about $31,000. Avior Wealth Management LLC boosted its holdings in shares of Sprouts Farmers Market by 93.5% during the fourth quarter. Avior Wealth Management LLC now owns 269 shares of the company’s stock worth $34,000 after purchasing an additional 130 shares during the period. Global Retirement Partners LLC grew its stake in shares of Sprouts Farmers Market by 84.1% in the fourth quarter. Global Retirement Partners LLC now owns 289 shares of the company’s stock worth $37,000 after purchasing an additional 132 shares during the last quarter. Finally, First Horizon Advisors Inc. increased its holdings in Sprouts Farmers Market by 80.6% during the 3rd quarter. First Horizon Advisors Inc. now owns 363 shares of the company’s stock valued at $40,000 after purchasing an additional 162 shares during the period.

Insider Activity at Sprouts Farmers Market

In related news, CEO Jack Sinclair sold 2,915 shares of the firm’s stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $167.54, for a total transaction of $488,379.10. Following the completion of the sale, the chief executive officer now owns 143,669 shares of the company’s stock, valued at $24,070,304.26. This trade represents a 1.99 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Joe Fortunato sold 5,000 shares of Sprouts Farmers Market stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $144.80, for a total value of $724,000.00. Following the completion of the sale, the director now directly owns 28,571 shares of the company’s stock, valued at approximately $4,137,080.80. The trade was a 14.89 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 16,564 shares of company stock valued at $2,413,770. 1.10% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. JPMorgan Chase & Co. increased their price objective on Sprouts Farmers Market from $131.00 to $136.00 and gave the stock a “neutral” rating in a report on Tuesday. Bank of America raised their price target on Sprouts Farmers Market from $165.00 to $185.00 and gave the stock a “buy” rating in a research note on Tuesday, February 11th. StockNews.com raised shares of Sprouts Farmers Market from a “hold” rating to a “buy” rating in a research report on Friday, February 21st. Wells Fargo & Company raised their target price on shares of Sprouts Farmers Market from $140.00 to $170.00 and gave the stock an “equal weight” rating in a research report on Friday, February 21st. Finally, Jefferies Financial Group boosted their price target on shares of Sprouts Farmers Market from $119.00 to $139.00 and gave the company a “hold” rating in a research report on Tuesday, February 25th. Ten equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, Sprouts Farmers Market currently has a consensus rating of “Hold” and an average price target of $154.15.

Sprouts Farmers Market Price Performance

Shares of SFM opened at $133.58 on Friday. The firm’s 50-day simple moving average is $150.75 and its two-hundred day simple moving average is $133.96. Sprouts Farmers Market, Inc. has a fifty-two week low of $60.46 and a fifty-two week high of $178.99. The stock has a market cap of $13.17 billion, a PE ratio of 35.53, a price-to-earnings-growth ratio of 2.31 and a beta of 0.67. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.59 and a current ratio of 1.13.

Sprouts Farmers Market (NASDAQ:SFM) last posted its quarterly earnings data on Thursday, February 20th. The company reported $0.79 earnings per share for the quarter, beating analysts’ consensus estimates of $0.72 by $0.07. Sprouts Farmers Market had a return on equity of 29.86% and a net margin of 4.93%. The company had revenue of $2 billion during the quarter, compared to analyst estimates of $1.96 billion. Analysts anticipate that Sprouts Farmers Market, Inc. will post 4.29 earnings per share for the current fiscal year.

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.