Shares of SpartanNash Company (NASDAQ:SPTN) have been assigned an average rating of “Hold” from the eight analysts that are currently covering the firm, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, four have given a hold recommendation and two have given a buy recommendation to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $26.50.
SPTN has been the topic of several recent analyst reports. Zacks Investment Research upgraded SpartanNash from a “sell” rating to a “hold” rating in a research note on Thursday, April 6th. Pivotal Research dropped their price target on SpartanNash from $40.00 to $35.00 and set a “hold” rating for the company in a research note on Wednesday, May 24th. ValuEngine lowered SpartanNash from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. BidaskClub upgraded SpartanNash from a “sell” rating to a “hold” rating in a research note on Tuesday, June 13th. Finally, Jefferies Group LLC set a $35.00 target price on SpartanNash and gave the company a “hold” rating in a research note on Wednesday, June 14th.
SpartanNash (NASDAQ:SPTN) traded down 1.01% during mid-day trading on Tuesday, reaching $27.40. 98,191 shares of the company’s stock were exchanged. The firm has a market capitalization of $1.04 billion, a P/E ratio of 16.65 and a beta of 0.99. SpartanNash has a one year low of $24.81 and a one year high of $40.38. The company’s 50-day moving average is $27.14 and its 200 day moving average is $33.56.
SpartanNash (NASDAQ:SPTN) last released its earnings results on Wednesday, May 24th. The company reported $0.55 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.54 by $0.01. SpartanNash had a return on equity of 10.03% and a net margin of 0.79%. The firm had revenue of $2.40 billion for the quarter, compared to the consensus estimate of $2.46 billion. During the same period in the prior year, the business posted $0.54 earnings per share. The firm’s revenue for the quarter was up 5.4% compared to the same quarter last year. Equities analysts predict that SpartanNash will post $2.30 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, June 30th. Shareholders of record on Friday, June 16th were issued a dividend of $0.165 per share. This represents a $0.66 dividend on an annualized basis and a yield of 2.41%. The ex-dividend date of this dividend was Wednesday, June 14th. SpartanNash’s dividend payout ratio is presently 40.00%.
In related news, insider Theodore Adornato sold 1,182 shares of the firm’s stock in a transaction that occurred on Monday, May 15th. The stock was sold at an average price of $36.86, for a total value of $43,568.52. Following the sale, the insider now owns 51,256 shares of the company’s stock, valued at approximately $1,889,296.16. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Dennis Eidson sold 6,141 shares of the firm’s stock in a transaction that occurred on Monday, May 15th. The stock was sold at an average price of $36.85, for a total value of $226,295.85. Following the completion of the sale, the chief executive officer now directly owns 258,610 shares in the company, valued at approximately $9,529,778.50. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 11,936 shares of company stock worth $407,921. 3.00% of the stock is currently owned by company insiders.
A number of hedge funds have recently made changes to their positions in SPTN. State Street Corp increased its stake in shares of SpartanNash by 10.0% in the fourth quarter. State Street Corp now owns 928,336 shares of the company’s stock valued at $36,710,000 after buying an additional 84,421 shares during the last quarter. Norges Bank acquired a new stake in shares of SpartanNash during the fourth quarter valued at $22,534,000. USA Financial Portformulas Corp acquired a new stake in shares of SpartanNash during the fourth quarter valued at $269,000. Teachers Advisors LLC increased its stake in shares of SpartanNash by 86.6% in the fourth quarter. Teachers Advisors LLC now owns 146,724 shares of the company’s stock valued at $5,801,000 after buying an additional 68,087 shares during the last quarter. Finally, Foundry Partners LLC increased its stake in shares of SpartanNash by 16.8% in the first quarter. Foundry Partners LLC now owns 161,406 shares of the company’s stock valued at $5,648,000 after buying an additional 23,233 shares during the last quarter. 87.47% of the stock is currently owned by hedge funds and other institutional investors.
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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