GAMMA Investing LLC Increases Stake in Sprouts Farmers Market, Inc. (NASDAQ:SFM)

GAMMA Investing LLC has increased its ownership in Sprouts Farmers Market, Inc. (NASDAQ:SFM) by a significant 34.7% during the third quarter, according to recent reports. Following their latest purchase of an additional 442 shares, the firm now holds a total of 1,714 shares in the company. As per the most recent filing with the Securities and Exchange Commission (SEC), GAMMA Investing LLC's stake in Sprouts Farmers Market has a value of approximately $189,000.

Other institutional investors have also been active in the stock market regarding Sprouts Farmers Market shares. For instance, Cetera Advisors LLC acquired a new position in the company during the first quarter, with an investment of around $349,000. Also, BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its ownership in Sprouts Farmers Market by 8.5% in the first quarter, now holding 616,429 shares worth about $39.75 million after adding 48,225 shares in the last quarter. Similarly, Inspire Investing LLC raised its stake substantially by 78.8% in the first quarter, owning 26,113 shares valued at approximately $1.68 million after adding 11,508 shares. Ritholtz Wealth Management increased its investment by 59.8% in the second quarter, holding 16,790 shares valued at about $1.41 million following an additional purchase of 6,286 shares. Hennessy Advisors Inc. also increased its stake by 14.1% in the first quarter, owning 569,000 shares valued at $36.69 million after purchasing an additional 70,300 shares.

Insider Trading Activity

In recent insider trading activities, CEO Jack Sinclair sold 5,714 shares of Sprouts Farmers Market on August 5, at an average price of $95.52 per share, resulting in a total sale amount of $545,801.28. After this transaction, Sinclair still retains 233,860 shares, valued at approximately $22.34 million. This sale represented no significant change in his ownership percentage. Furthermore, Director Joe Fortunato sold 7,895 shares on August 2 for an average price of $98.38, leading to a total transaction of $776,710.10. Post-transaction, he owns around 45,071 shares valued at approximately $4.43 million, with no meaningful change in ownership percentage observed. Over the last quarter, insiders sold a total of 123,221 shares valued at about $12.30 million, indicating that company insiders collectively hold around 1.10% of Sprouts Farmers Market stock.

Stock Performance Overview

SFM shares opened at $116.12 recently. The stock has seen a range over the last 52 weeks, with a low of $39.76 and a high of $116.24. Financial metrics for the company include a quick ratio of 0.44 and a current ratio of 1.03, while the debt-to-equity ratio stands at a minimal 0.01. The market capitalization of Sprouts Farmers Market is approximately $11.63 billion, with a price-to-earnings ratio of 36.40 and a PEG ratio of 3.24. The stock has experienced a 50-day simple moving average of $103.37 and a 200-day simple moving average of $85.52.

On July 29, Sprouts Farmers Market released its quarterly earnings, announcing earnings per share of $0.94 for the quarter, surpassing the consensus estimate of $0.78 by $0.16. The company achieved revenues of $1.90 billion for the quarter, exceeding expected revenues of $1.84 billion. Their net margin stood at 4.52%, while the return on equity was recorded at 27.53%. Revenue growth compared to the previous year rose by 12.3%.

Analyst Ratings Changes

Recent commentary from equity research analysts regarding SFM stock includes an upgrade from Wells Fargo & Company, transitioning from an "underweight" to an "equal weight" rating, with an increased price target from $62.00 to $90.00. BMO Capital Markets also upgraded Sprouts Farmers Market from an "underperform" to a "market perform" rating, raising their price target from $40.00 to $102.00. Deutsche Bank Aktiengesellschaft raised their price objective from $63.00 to $76.00 with a "hold" rating. Analysts at Evercore ISI upgraded their rating from "in-line" to "outperform," lifting their price target from $96.00 to $120.00. Additionally, Bank of America increased its price goal from $100.00 to $115.00, labeling the stock as a "buy." Currently, the stock has a consensus rating of "Hold" from nine research analysts, with a suggested average price target set at $99.80.

Company Profile of Sprouts Farmers Market

Sprouts Farmers Market, Inc. operates in the retail sector, providing a wide range of fresh, natural, and organic food products under the Sprouts brand across the United States. The company offers a variety of perishable goods such as fresh produce, seafood, deli items, and dairy products, along with non-perishable items including groceries, vitamins, and natural body care products.

GAMMA, Investing, Sprouts