Shares of Sprouts Farmers Market Inc (NASDAQ:SFM) are up 5.14% in pre-market trading this morning after it was announced late Friday that the company would replace SolarWinds Inc. (NYSE:SWI) on the S&P MidCap 400 index. The index is intended for investors who prefer mid-sized companies,and is supposed to reflect the risk and return characteristics of the market.
This is really big new for Sprouts Farmers Market Inc (NASDAQ:SFM), as many funds invest into stocks listed on indices such as these. It could be a good boost for a company that has been trading on the low end of its 52-week week range as of late. The stock decreased 2.59% or $0.61 during the last trading session, hitting $22.96. Approximately 5,100 shares traded hands. SFM shares have declined 13.03% since July 2, 2015 and are currently downtrending. It has underperformed the S&P500 by 5.73%.
From a total of 9 analysts covering Sprouts Farmers Market (NASDAQ:SFM) stock, 3 rate it a “Buy”, 0 a “Sell”, and 6 a “Hold”. This means that 33% of the ratings are positive. The highest target price is $38 while the lowest target price is $20. The mean of all analyst targets is $25.75 which is 12.15% above today’s ($22.96) stock price. Sprouts Farmers Market was the topic of 19 analyst reports since July 29, 2015 according to the firm StockzIntelligence Inc. Wells Fargo initiated shares on January 22 with a “Outperform” rating. Stephens downgraded shares to a”Equal Weight” rating and a $23 target share price in their report from an August 7. Deutsche Bank upgraded SFM stock in a recent report from August 25 to a “Hold” rating. Finally, BB&T Capital downgraded the stock to a “Hold” rating in a report they issued on an August 7.
The institutional sentiment decreased to 1.5 in Q2 2015. It’s down 0.05, from 1.55 in 2015Q2. The ratio turned negative, as 35 funds sold all their Sprouts Farmers Market Inc shares they owned while 43 reduced their positions. 45 funds bought stakes while 72 increased their total positions. Institutions now own 131.65 million shares which is 2.80% less than the previous share count of 135.43 million in 2015Q2.
Shearlink Capital Llc holds 7.39% of its total portfolio in Sprouts Farmers Market Inc, equating to 796,794 shares. Bluespruce Investments Lp owns 940,359 shares representing 5.11% of their total US portfolio. Moreover, Wafra Investment Advisory Group Inc Ny has 3.39% of their total portfolio invested in the company, equating to 1.31 million shares. The Vermont-based Rock Point Advisors Llc has a total of 2.32% of their portfolio invested in the stock. Farr Miller & Washington Llc Dc, a -based fund reported 800,976 shares owned.
Sprouts Farmers Market, Inc. is a food retailer. The company has a market cap of $3.44 billion. The Firm operates as a grocery store that offers natural and organic food, including produce, bulk foods, vitamins and supplements, grocery, meat and seafood, bakery, dairy, frozen foods, body care and natural household items. It has 30.18 P/E ratio. As of February 26, 2015, the Company operated 198 stores in 12 states.