Gateway Wealth Partners LLC Makes New Investment in Sprouts Farmers Market, Inc. (NASDAQ:SFM)

Gateway Wealth Partners LLC purchased a new position in shares of Sprouts Farmers Market, Inc. (NASDAQ:SFM) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 1,914 shares of the company’s stock, valued at approximately $211,000.

A number of other institutional investors also recently bought and sold shares of SFM. State of Michigan Retirement System lifted its holdings in Sprouts Farmers Market by 2.0% during the 1st quarter. State of Michigan Retirement System now owns 24,896 shares of the company’s stock worth $1,605,000 after buying an additional 500 shares during the last quarter. Norden Group LLC purchased a new stake in shares of Sprouts Farmers Market in the 1st quarter valued at about $802,000. Ashton Thomas Private Wealth LLC lifted its holdings in shares of Sprouts Farmers Market by 1.0% in the 1st quarter. Ashton Thomas Private Wealth LLC now owns 34,993 shares of the company’s stock valued at $2,256,000 after purchasing an additional 352 shares during the last quarter. Commonwealth Equity Services LLC lifted its holdings in shares of Sprouts Farmers Market by 28.3% in the 1st quarter. Commonwealth Equity Services LLC now owns 14,047 shares of the company’s stock valued at $906,000 after purchasing an additional 3,095 shares during the last quarter. Finally, Van ECK Associates Corp lifted its holdings in shares of Sprouts Farmers Market by 21.3% in the 1st quarter. Van ECK Associates Corp now owns 43,135 shares of the company’s stock valued at $2,781,000 after purchasing an additional 7,570 shares during the last quarter.

Analyst Ratings Changes

SFM has been the subject of several research reports. BMO Capital Markets raised Sprouts Farmers Market from an “underperform” rating to a “market perform” rating and boosted their target price for the company from $40.00 to $102.00 in a report on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft boosted their target price on Sprouts Farmers Market from $63.00 to $76.00 and gave the company a “hold” rating in a report on Monday, July 29th. Royal Bank of Canada initiated coverage on Sprouts Farmers Market in a report on Thursday, September 12th. They issued a “sector perform” rating and a $107.00 target price for the company. Roth Mkm boosted their target price on Sprouts Farmers Market from $58.00 to $78.00 and gave the company a “neutral” rating in a report on Tuesday, July 30th. Finally, Melius Research began coverage on Sprouts Farmers Market in a research report on Monday, September 23rd. They issued a “hold” rating and a $105.00 price target on the stock. Nine investment 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.com, the stock has an average rating of “Hold” and a consensus target price of $104.40.

Sprouts Farmers Market Stock Performance

NASDAQ SFM opened at $119.69 on Wednesday. The company has a current ratio of 1.03, a quick ratio of 0.44 and a debt-to-equity ratio of 0.01. The business’s 50 day moving average is $108.49 and its two-hundred day moving average is $90.41. Sprouts Farmers Market, Inc. has a 12-month low of $39.76 and a 12-month high of $120.98. The stock has a market capitalization of $11.98 billion, a price-to-earnings ratio of 37.52, a PEG ratio of 2.75 and a beta of 0.56.

Sprouts Farmers Market (NASDAQ:SFM) last released its earnings results on Monday, July 29th. The company reported $0.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.78 by $0.16. Sprouts Farmers Market had a return on equity of 27.53% and a net margin of 4.52%. The company had revenue of $1.90 billion for the quarter, compared to analysts’ expectations of $1.84 billion. During the same quarter in the previous year, the firm posted $0.71 EPS. The firm’s quarterly revenue was up 12.3% on a year-over-year basis. Research analysts expect that Sprouts Farmers Market, Inc. will post 3.39 EPS for the current year.

Insiders Place Their Bets

In other Sprouts Farmers Market news, insider Dustin Hamilton sold 921 shares of the business’s stock in a transaction that occurred on Friday, October 11th. The stock was sold at an average price of $113.60, for a total transaction of $104,625.60. Following the transaction, the insider now owns 25,251 shares in the company, valued at approximately $2,868,513.60. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, insider Timmi Zalatoris sold 56,800 shares of the company’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 value of $5,680,000.00. Following the sale, the insider now owns 10,895 shares in the company, valued at $1,089,500. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Dustin Hamilton sold 921 shares of the company’s stock in a transaction that occurred on Friday, October 11th. The stock was sold at an average price of $113.60, for a total value of $104,625.60. Following the completion of the sale, the insider now owns 25,251 shares in the company, valued at approximately $2,868,513.60. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 124,142 shares of company stock worth $12,401,112. Company 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.