BMO Capital Markets started coverage on shares of SpartanNash Company (NASDAQ:SPTN) in a report issued on Tuesday. The brokerage issued a market perform rating and a $25.00 price objective on the stock.
A number of other research analysts also recently issued reports on the company. Pivotal Research downgraded SpartanNash from a hold rating to a sell rating and lowered their price target for the company from $35.00 to $20.00 in a report on Monday, June 26th. Jefferies Group LLC reaffirmed a hold rating and issued a $30.00 price objective (down previously from $35.00) on shares of SpartanNash in a research note on Friday, June 23rd. ValuEngine raised SpartanNash from a hold rating to a buy rating in a research note on Monday, July 17th. Zacks Investment Research raised SpartanNash from a sell rating to a hold rating in a research note on Thursday, July 27th. Finally, BidaskClub downgraded SpartanNash from a hold rating to a sell rating in a research note on Monday, June 19th. Three analysts have rated the stock with a sell rating and five have issued a hold rating to the company’s stock. The company has a consensus rating of Hold and a consensus price target of $27.50.
Shares of SpartanNash (SPTN) opened at 23.90 on Tuesday. The company has a 50-day moving average of $25.59 and a 200 day moving average of $30.52. The firm has a market cap of $890.75 million, a P/E ratio of 13.71 and a beta of 1.06. SpartanNash has a 52-week low of $22.90 and a 52-week high of $40.38.
SpartanNash (NASDAQ:SPTN) last released its earnings results on Wednesday, August 16th. The company reported $0.60 EPS for the quarter, hitting analysts’ consensus estimates of $0.60. SpartanNash had a return on equity of 10.00% and a net margin of 0.83%. The firm had revenue of $1.89 billion for the quarter, compared to analysts’ expectations of $1.96 billion. During the same period in the prior year, the firm posted $0.58 earnings per share. The company’s quarterly revenue was up 3.7% on a year-over-year basis. On average, equities analysts expect that SpartanNash will post $2.23 earnings per share for the current year.
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The business also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 15th will be issued a $0.165 dividend. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 2.76%. SpartanNash’s dividend payout ratio is presently 37.93%.
In other news, Director M Shan Atkins sold 2,000 shares of SpartanNash stock in a transaction on Monday, June 19th. The stock was sold at an average price of $27.69, for a total value of $55,380.00. Following the transaction, the director now directly owns 32,425 shares in the company, valued at approximately $897,848.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 3.00% of the company’s stock.
Several large investors have recently made changes to their positions in SPTN. Louisiana State Employees Retirement System increased its holdings in shares of SpartanNash by 1.3% in the 1st quarter. Louisiana State Employees Retirement System now owns 15,260 shares of the company’s stock valued at $534,000 after acquiring an additional 200 shares during the period. Wells Fargo & Company MN increased its holdings in shares of SpartanNash by 102.4% in the 1st quarter. Wells Fargo & Company MN now owns 165,224 shares of the company’s stock valued at $5,781,000 after acquiring an additional 83,575 shares during the period. Great West Life Assurance Co. Can increased its holdings in shares of SpartanNash by 8.1% in the 1st quarter. Great West Life Assurance Co. Can now owns 52,412 shares of the company’s stock valued at $1,833,000 after acquiring an additional 3,910 shares during the period. US Bancorp DE increased its holdings in shares of SpartanNash by 21.1% in the 1st quarter. US Bancorp DE now owns 5,540 shares of the company’s stock valued at $194,000 after acquiring an additional 965 shares during the period. Finally, Bank of New York Mellon Corp increased its holdings in shares of SpartanNash by 5.0% in the 1st quarter. Bank of New York Mellon Corp now owns 582,553 shares of the company’s stock valued at $20,384,000 after acquiring an additional 27,757 shares during the period. Institutional investors and hedge funds own 88.24% of the company’s stock.
SpartanNash Company Profile
SpartanNash Company is a multi-regional grocery distributor and grocery retailer. The Company’s core businesses include distributing grocery products to independent grocery retailers (independent retailers), select national retailers, its corporate owned retail stores, and the United States military commissaries.
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