Zacks: Analysts Expect SpartanNash Co (NASDAQ:SPTN) Will Post Quarterly Sales of $1.99 Billion

Brokerages expect SpartanNash Co (NASDAQ:SPTN) to post sales of $1.99 billion for the current fiscal quarter, Zacks Investment Research reports. Two analysts have made estimates for SpartanNash’s earnings. The highest sales estimate is $2.00 billion and the lowest is $1.98 billion. SpartanNash posted sales of $1.89 billion in the same quarter last year, which would indicate a positive year-over-year growth rate of 5.3%. The business is scheduled to issue its next quarterly earnings report on Wednesday, November 6th.

According to Zacks, analysts expect that SpartanNash will report full-year sales of $8.53 billion for the current financial year, with estimates ranging from $8.51 billion to $8.55 billion. For the next financial year, analysts expect that the company will report sales of $8.84 billion, with estimates ranging from $8.83 billion to $8.85 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that that provide coverage for SpartanNash.

SpartanNash (NASDAQ:SPTN) last posted its earnings results on Wednesday, August 14th. The company reported $0.34 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.34. The company had revenue of $2 billion during the quarter, compared to analysts’ expectations of $2.01 billion. SpartanNash had a net margin of 0.05% and a return on equity of 7.07%. SpartanNash’s quarterly revenue was up 5.3% on a year-over-year basis. During the same period last year, the company posted $0.56 earnings per share.

Several research firms recently weighed in on SPTN. TheStreet cut shares of SpartanNash from a “c” rating to a “d+” rating in a research note on Wednesday, August 14th. BidaskClub raised shares of SpartanNash from a “strong sell” rating to a “sell” rating in a research note on Thursday, October 10th. Zacks Investment Research cut shares of SpartanNash from a “hold” rating to a “sell” rating in a research note on Tuesday. BMO Capital Markets cut shares of SpartanNash from a “market perform” rating to an “underperform” rating and cut their target price for the company from $13.00 to $8.00 in a research note on Friday, August 2nd. Finally, ValuEngine raised shares of SpartanNash from a “sell” rating to a “hold” rating in a research note on Wednesday, September 11th. Four research analysts have rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company. SpartanNash has a consensus rating of “Hold” and a consensus target price of $13.00.

Several large investors have recently modified their holdings of SPTN. Nuveen Asset Management LLC purchased a new position in shares of SpartanNash in the 2nd quarter worth $5,803,000. Invesco Ltd. grew its stake in shares of SpartanNash by 53.7% in the 2nd quarter. Invesco Ltd. now owns 817,636 shares of the company’s stock worth $9,542,000 after buying an additional 285,630 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of SpartanNash by 9.1% in the 2nd quarter. Vanguard Group Inc. now owns 2,681,176 shares of the company’s stock worth $31,288,000 after buying an additional 223,193 shares in the last quarter. Renaissance Technologies LLC grew its stake in shares of SpartanNash by 115.1% in the 2nd quarter. Renaissance Technologies LLC now owns 411,678 shares of the company’s stock worth $4,804,000 after buying an additional 220,266 shares in the last quarter. Finally, Assenagon Asset Management S.A. purchased a new position in shares of SpartanNash in the 3rd quarter worth $1,862,000. 83.66% of the stock is owned by institutional investors and hedge funds.

SPTN traded up $0.27 during trading on Friday, hitting $13.71. 354,800 shares of the company traded hands, compared to its average volume of 305,927. The company has a market cap of $474.17 million, a PE ratio of 7.33, a P/E/G ratio of 1.44 and a beta of 1.39. The stock’s 50-day simple moving average is $11.91 and its two-hundred day simple moving average is $12.58. SpartanNash has a 1 year low of $8.82 and a 1 year high of $23.00. The company has a current ratio of 1.76, a quick ratio of 0.75 and a debt-to-equity ratio of 1.40.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were paid a $0.19 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 5.54%. SpartanNash’s payout ratio is currently 40.64%.

SpartanNash Company Profile

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 retailers, national retailers, food service distributors, e-commerce providers, and corporate owned retail stores.

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Earnings History and Estimates for SpartanNash (NASDAQ:SPTN)

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