In its Q2 2026 investor letter, FPA Queens Road Small Cap Value Fund noted that Sprouts Farmers Market (SFM) stock performed strongly through April 2025, leading the fund to trim its position in late 2024 and early 2025. However, SFM's share price collapsed in the second half of 2025 when growth slowed. The fund stated that SFM now trades at a low-teens multiple of forward earnings, making them comfortable holding a mid-sized position. On August 31, 2026, SFM closed at approximately $82.04 per share.