SpartanNash (SPTN) Coverage Initiated by Analysts at Royal Bank of Canada

Royal Bank of Canada initiated coverage on shares of SpartanNash (NASDAQ:SPTN) in a report released on Thursday morning, Marketbeat Ratings reports. The brokerage issued an outperform rating and a $25.00 price target on the stock.

A number of other analysts have also issued reports on the stock. BidaskClub lowered shares of SpartanNash from a hold rating to a sell rating in a research report on Friday, September 28th. BMO Capital Markets lowered shares of SpartanNash from an outperform rating to a market perform rating and set a $23.00 price target for the company. in a research report on Thursday, November 8th. ValuEngine raised shares of SpartanNash from a strong sell rating to a sell rating in a research report on Thursday, November 8th. Northcoast Research raised shares of SpartanNash from a neutral rating to a buy rating in a research report on Thursday, November 15th. Finally, Barclays reissued a hold rating and issued a $20.00 price target on shares of SpartanNash in a research report on Wednesday, January 9th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the stock. SpartanNash presently has a consensus rating of Hold and a consensus price target of $21.83.

SPTN stock opened at $20.63 on Thursday. The company has a quick ratio of 0.84, a current ratio of 1.99 and a debt-to-equity ratio of 0.94. SpartanNash has a one year low of $16.08 and a one year high of $26.99. The stock has a market cap of $695.83 million, a price-to-earnings ratio of 9.82, a PEG ratio of 1.35 and a beta of 1.12.

SpartanNash (NASDAQ:SPTN) last posted its quarterly earnings data on Wednesday, November 7th. The company reported $0.50 EPS for the quarter, beating analysts’ consensus estimates of $0.48 by $0.02. The company had revenue of $1.89 billion during the quarter, compared to analyst estimates of $1.91 billion. SpartanNash had a net margin of 1.02% and a return on equity of 9.81%. The business’s quarterly revenue was up 1.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.54 earnings per share. Sell-side analysts predict that SpartanNash will post 1.94 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Monday, December 31st. Stockholders of record on Monday, December 17th were given a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 3.49%. The ex-dividend date was Friday, December 14th. SpartanNash’s dividend payout ratio (DPR) is 34.29%.

In related news, Director Douglas A. Hacker sold 2,499 shares of the firm’s stock in a transaction that occurred on Tuesday, November 27th. The shares were sold at an average price of $18.75, for a total transaction of $46,856.25. Following the transaction, the director now owns 31,265 shares of the company’s stock, valued at $586,218.75. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider David M. Staples sold 11,960 shares of the firm’s stock in a transaction that occurred on Wednesday, November 28th. The shares were sold at an average price of $18.39, for a total transaction of $219,944.40. Following the transaction, the insider now directly owns 182,706 shares in the company, valued at approximately $3,359,963.34. The disclosure for this sale can be found here. 2.40% of the stock is owned by corporate insiders.

Institutional investors and hedge funds have recently modified their holdings of the stock. Bessemer Group Inc. bought a new position in SpartanNash during the third quarter valued at approximately $102,000. Commonwealth Bank of Australia bought a new position in SpartanNash during the third quarter valued at approximately $264,000. United Services Automobile Association bought a new position in SpartanNash during the second quarter valued at approximately $285,000. Globeflex Capital L P acquired a new position in SpartanNash during the third quarter valued at approximately $307,000. Finally, First Midwest Bank Trust Division acquired a new position in SpartanNash during the third quarter valued at approximately $438,000. 84.28% of the stock is currently owned by hedge funds and other institutional investors.

About SpartanNash

SpartanNash Company distributes and retails grocery products. It operates in three segments: Food Distribution, Military, and Retail. The Food Distribution segment offers approximately 60,000 stock-keeping units, such as dry groceries, produce, dairy products, meat, delicatessen items, bakery goods, frozen food, seafood, floral products, general merchandise, beverages, tobacco products, health and beauty care, and pharmacy products to independent retail locations, food service distributors, and corporate-owned retail stores.

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Analyst Recommendations for SpartanNash (NASDAQ:SPTN)

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