Shares of SpartanNash Company (NASDAQ:SPTN) have received an average recommendation of “Hold” from the eight analysts that are covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating on the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $26.50.
A number of equities research analysts recently weighed in on the company. BidaskClub raised SpartanNash from a “sell” rating to a “hold” rating in a report on Monday, July 31st. Zacks Investment Research raised SpartanNash from a “sell” rating to a “hold” rating in a research note on Wednesday, April 26th. ValuEngine raised SpartanNash from a “hold” rating to a “buy” rating in a research note on Monday, July 17th. 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. Finally, Barclays PLC reissued an “equal weight” rating and issued a $28.00 target price (down from $36.00) on shares of SpartanNash in a research note on Friday, July 14th.
In related news, insider Theodore Adornato sold 1,182 shares of SpartanNash stock in a transaction on Monday, May 15th. The stock was sold at an average price of $36.86, for a total transaction of $43,568.52. Following the completion of the sale, the insider now directly owns 51,256 shares of the company’s stock, valued at $1,889,296.16. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, 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 sale, the director now directly owns 32,425 shares of the company’s stock, valued at $897,848.25. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 11,936 shares of company stock valued at $407,921. 3.00% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of SPTN. Wedge Capital Management L L P NC raised its position in SpartanNash by 16.6% in the first quarter. Wedge Capital Management L L P NC now owns 408,727 shares of the company’s stock valued at $14,301,000 after buying an additional 58,281 shares in the last quarter. Gotham Asset Management LLC raised its position in SpartanNash by 16.9% in the first quarter. Gotham Asset Management LLC now owns 172,430 shares of the company’s stock valued at $6,033,000 after buying an additional 24,931 shares in the last quarter. Alpha Windward LLC raised its position in SpartanNash by 0.5% in the first quarter. Alpha Windward LLC now owns 12,420 shares of the company’s stock valued at $435,000 after buying an additional 60 shares in the last quarter. Bank of New York Mellon Corp raised its position in SpartanNash by 5.0% in the first quarter. Bank of New York Mellon Corp now owns 582,553 shares of the company’s stock valued at $20,384,000 after buying an additional 27,757 shares in the last quarter. Finally, BlackRock Inc. raised its position in SpartanNash by 21,712.5% in the first quarter. BlackRock Inc. now owns 4,785,883 shares of the company’s stock valued at $167,458,000 after buying an additional 4,763,942 shares in the last quarter. Hedge funds and other institutional investors own 87.12% of the company’s stock.
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SpartanNash (SPTN) opened at 26.93 on Tuesday. SpartanNash has a 1-year low of $24.81 and a 1-year high of $40.38. The company has a market cap of $1.02 billion, a PE ratio of 16.36 and a beta of 1.00. The stock has a 50 day moving average price of $26.86 and a 200 day moving average price of $33.20.
SpartanNash (NASDAQ:SPTN) last released its quarterly earnings results on Wednesday, May 24th. The company reported $0.55 earnings per share for the quarter, beating the Zacks’ 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 during the quarter, compared to analysts’ expectations of $2.46 billion. During the same period last year, the firm posted $0.54 EPS. The business’s revenue was up 5.4% on a year-over-year basis. Equities analysts forecast that SpartanNash will post $2.30 earnings per share for the current year.
About SpartanNash
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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