Bank of New York Mellon Corp Sells 343,311 Shares of Sprouts Farmers Market Inc (SFM)
Bank of New York Mellon Corp lessened its holdings in Sprouts Farmers Market Inc (NASDAQ:SFM) by 9.3% in the fourth quarter, HoldingsChannel.com reports. The fund owned 3,357,920 shares of the company’s stock after selling 343,311 shares during the period. Bank of New York Mellon Corp’s holdings in Sprouts Farmers Market were worth $81,766,000 as of its most recent filing with the SEC.
Other institutional investors have also made changes to their positions in the company. Allianz Asset Management GmbH bought a new stake in Sprouts Farmers Market during the third quarter worth about $1,991,000. Cornerstone Capital Management Holdings LLC. bought a new stake in Sprouts Farmers Market during the third quarter worth about $2,485,000. APG Asset Management N.V. bought a new stake in Sprouts Farmers Market during the third quarter worth about $6,532,000. Sei Investments Co. lifted its position in Sprouts Farmers Market by 1,205.1% during the third quarter. Sei Investments Co. now owns 40,523 shares of the company’s stock worth $761,000 after purchasing an additional 37,418 shares during the period. Finally, Aurora Investment Counsel bought a new stake in Sprouts Farmers Market during the fourth quarter worth about $1,115,000. 91.18% of the stock is owned by institutional investors.
In other news, insider Brandon F. Lombardi sold 8,557 shares of the company’s stock in a transaction that occurred on Friday, January 12th. The stock was sold at an average price of $25.74, for a total value of $220,257.18. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Amin N. Maredia sold 142,454 shares of the company’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $25.43, for a total value of $3,622,605.22. Following the completion of the transaction, the chief executive officer now directly owns 388,311 shares of the company’s stock, valued at approximately $9,874,748.73. The disclosure for this sale can be found here. Insiders sold 1,647,268 shares of company stock valued at $42,902,766 in the last ninety days. 2.60% of the stock is currently owned by insiders.
Sprouts Farmers Market (NASDAQ:SFM) last released its quarterly earnings data on Thursday, February 22nd. The company reported $0.16 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.15 by $0.01. Sprouts Farmers Market had a return on equity of 21.81% and a net margin of 3.40%. The company had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.14 billion. During the same quarter in the prior year, the firm posted $0.13 earnings per share. The firm’s revenue was up 16.0% compared to the same quarter last year. analysts expect that Sprouts Farmers Market Inc will post 1.27 EPS for the current fiscal year.
Sprouts Farmers Market declared that its board has initiated a stock buyback plan on Thursday, February 22nd that permits the company to repurchase $350.00 million in shares. This repurchase authorization permits the company to buy shares of its stock through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.
SFM has been the subject of several research analyst reports. Gordon Haskett raised Sprouts Farmers Market from an “accumulate” rating to a “buy” rating and set a $27.00 target price for the company in a research note on Wednesday, January 31st. Stephens set a $27.00 target price on Sprouts Farmers Market and gave the stock a “hold” rating in a research note on Wednesday, January 17th. Zacks Investment Research raised Sprouts Farmers Market from a “hold” rating to a “buy” rating and set a $23.00 target price for the company in a research note on Saturday, November 4th. Goldman Sachs Group reissued a “sell” rating and set a $18.00 target price on shares of Sprouts Farmers Market in a research note on Tuesday, November 14th. Finally, Susquehanna Bancshares set a $30.00 target price on Sprouts Farmers Market and gave the stock a “buy” rating in a research note on Thursday, January 11th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $26.95.
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Sprouts Farmers Market Company Profile
Sprouts Farmers Market, Inc is a food retailer. The Company operates as a grocery store that offers fresh, natural and organic food that includes fresh produce, bulk foods, vitamins and supplements, packaged groceries, meat and seafood, deli, baked goods, dairy products, frozen foods, body care and natural household items catering to consumers’ interest in health and wellness.
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