Sprouts Farmers Market Inc (SFM) Sees Significant Decrease in Short Interest
Sprouts Farmers Market Inc (NASDAQ:SFM) saw a large decline in short interest in the month of February. As of February 28th, there was short interest totalling 13,124,047 shares, a decline of 14.3% from the February 15th total of 15,312,811 shares. Approximately 11.0% of the shares of the company are sold short. Based on an average daily volume of 2,347,964 shares, the short-interest ratio is currently 5.6 days.
SFM has been the topic of a number of research reports. Zacks Investment Research restated a “hold” rating on shares of Sprouts Farmers Market in a report on Thursday, November 15th. Sanford C. Bernstein began coverage on Sprouts Farmers Market in a research note on Friday, November 16th. They issued an “underperform” rating and a $23.00 target price on the stock. BidaskClub raised Sprouts Farmers Market from a “hold” rating to a “buy” rating in a research note on Wednesday, November 21st. Loop Capital set a $29.00 target price on Sprouts Farmers Market and gave the company a “hold” rating in a research note on Friday, November 30th. Finally, Bank of America lowered Sprouts Farmers Market from a “buy” rating to an “underperform” rating and reduced their target price for the company from $35.00 to $21.00 in a research note on Friday, November 30th. Three research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and five have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $26.48.
SFM stock opened at $22.31 on Friday. Sprouts Farmers Market has a 1 year low of $20.63 and a 1 year high of $29.67. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.22 and a current ratio of 1.08. The company has a market capitalization of $2.77 billion, a P/E ratio of 17.29, a P/E/G ratio of 1.73 and a beta of 0.50.
In other Sprouts Farmers Market news, insider Shawn R. Gensch sold 3,310 shares of the business’s stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $22.96, for a total transaction of $75,997.60. Following the transaction, the insider now owns 22,917 shares in the company, valued at approximately $526,174.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Theodore Edward Frumkin II sold 3,106 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $22.95, for a total value of $71,282.70. Following the transaction, the insider now owns 31,826 shares in the company, valued at approximately $730,406.70. The disclosure for this sale can be found here. Insiders have sold a total of 44,394 shares of company stock worth $1,020,298 in the last quarter. 1.80% of the stock is currently owned by insiders.
Several institutional investors have recently modified their holdings of the business. State Board of Administration of Florida Retirement System increased its position in shares of Sprouts Farmers Market by 2.5% in the third quarter. State Board of Administration of Florida Retirement System now owns 182,302 shares of the company’s stock worth $4,997,000 after purchasing an additional 4,471 shares during the last quarter. Engineers Gate Manager LP bought a new position in shares of Sprouts Farmers Market in the third quarter worth approximately $334,000. Cambridge Investment Research Advisors Inc. bought a new position in shares of Sprouts Farmers Market in the third quarter worth approximately $653,000. Gabelli Funds LLC increased its position in shares of Sprouts Farmers Market by 8.8% in the third quarter. Gabelli Funds LLC now owns 62,000 shares of the company’s stock worth $1,699,000 after purchasing an additional 5,000 shares during the last quarter. Finally, Virginia Retirement Systems ET AL bought a new position in Sprouts Farmers Market during the third quarter valued at approximately $918,000. 95.57% of the stock is currently owned by institutional investors.
Sprouts Farmers Market Company Profile
Sprouts Farmers Market, Inc, a healthy grocery store, provides fresh, natural, and organic food products in the United States. Its stores offer fresh produce, meat and seafood, deli and baked goods, packaged groceries, vitamins and supplements, bulk foods, dairy and dairy alternatives, frozen foods, beer and wine, and natural body care and household items.
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