Sprouts Farmers Market Inc. (SFM) gets rating Downgrade from Deutsche Bank


Sprouts Farmers Market Inc.’s filing revealed that its SVP, Chief Forager Coffin Kim unloaded Company’s shares for reported $0.3 million on Aug 30. In the deal valued at $40.58 per share,7,286 shares were sold. As a result of this transaction, Coffin Kim now holds 6,190 shares worth roughly $ 0.24 million.

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Then, Neal John Scott sold 58,427 shares, generating $2,222,160 in total proceeds. Upon selling the shares at $38.03, the Chief Merchandising Officer now owns 12,781 shares.

Before that, Neal John Scott sold 3,636 shares. Sprouts Farmers Market Inc. shares valued at $138,532 were divested by the Chief Merchandising Officer at a price of $38.10 per share. As a result of the transaction, Neal John Scott now holds 48,445 shares, worth roughly $1.91 million.

Deutsche Bank downgraded its Sprouts Farmers Market Inc. [SFM] rating to a Hold from a a Buy in a research note published on Friday, July 25, 2023; the price target was decreased to $42 from $45. PT values the company’s stock at a premium of 6.26 to its Friday closing price.

Price Performance Review of SFM

On Friday, Sprouts Farmers Market Inc. [NASDAQ:SFM] saw its stock fall -3.48% to $39.37. On the same session, the stock had its day’s lowest price of $39.20, but rose to a high of $40.83. Over the last five days, the stock has lost -0.30%. Sprouts Farmers Market Inc. shares have risen nearly 21.62% since the year began. Nevertheless, the stocks have risen 36.23% over the past one year. While a 52-week high of $41.28 was reached on 08/30/23, a 52-week low of $26.34 was recorded on 01/19/23. SMA at 50 days reached $38.21, while 200 days put it at $34.69. A total of 1.87 million shares were traded, compared to the trading of 1.38 million shares in the previous session.

Levels Of Support And Resistance For SFM Stock

The 24-hour chart illustrates a support level at 38.77, which if violated will result in even more drops to 38.17. On the upside, there is a resistance level at 40.40. A further resistance level may holdings at 41.43. The Relative Strength Index (RSI) on the 14-day chart is 53.18, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 1.01, which suggests price will go up in the next trading period. Percent R suggests that price movement has been low at 46.25%. Stochastics %K at 73.90% indicates the stock is a holding.

How much short interest is there in Sprouts Farmers Market Inc.?

A steep rise in short interest was recorded in Sprouts Farmers Market Inc. stocks on Aug 14, 2023, dropping by -0.85 million shares to a total of 18.75 million shares. Yahoo Finance data shows the prior-month short interest on Jul 13, 2023 was 19.6 million shares. There was a decline of -4.53%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 29.97% of the overall stock float, the days-to-cover ratio (short ratio) fell to 11.66.

Sprouts Farmers Market Inc. [SFM] – Who Are The Largest Shareholders?

In filings from Fidelity Management & Research Co, it is revealed that the company now owns 11,505,781 shares, or roughly 11.17% of the outstanding SFM shares. In other words, the investor’s shares have fallen by -375,739 from its previous 13-F filing of 11881520.0. Additionally, BlackRock Fund Advisors decreased -3.52% of its stake after which the total value it holdings stand at $421,319,784, while The Vanguard Group, Inc. reduced -4.62% of its stake to hold $410.64 million in the firm. Over the last quarter, LSV Asset Management sold -176,794 shares of Sprouts Farmers Market Inc., while Renaissance Technologies LLC sold -584,800 shares. At present, SSgA Funds Management, Inc. is holding 3,783,525 shares valued at $148.5 million. FIAM LLC owned 3,736,363 shares of the company at the time of its most recent 13F filing, worth $146.65 million.

According to FactSet, Sprouts Farmers Market Inc.’s share price will average $35.50 in the next year, based on opinions of analysts polled by the firm. This is down nearly -11.74 percent from its previous closing price of $40.79. Analysts expect Sprouts Farmers Market Inc. stock to reach the higher price of $43.00, while the lowest price estimate is $26.00.


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