Royal Bank of Canada started coverage on shares of SpartanNash (NASDAQ:SPTN) in a report issued on Thursday, Marketbeat.com reports. The brokerage issued an outperform rating and a $25.00 price objective on the stock.
Several other equities analysts have also recently weighed in on SPTN. BidaskClub cut SpartanNash from a hold rating to a sell rating in a research note on Friday, September 28th. BMO Capital Markets cut SpartanNash from an outperform rating to a market perform rating and set a $23.00 price objective on the stock. in a research note on Thursday, November 8th. ValuEngine upgraded SpartanNash from a strong sell rating to a sell rating in a research note on Thursday, November 8th. Northcoast Research upgraded SpartanNash from a neutral rating to a buy rating in a research note on Thursday, November 15th. Finally, Barclays restated a hold rating and set a $20.00 price objective on shares of SpartanNash in a research note on Wednesday. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the company. The stock has a consensus rating of Hold and an average target price of $21.83.
NASDAQ SPTN traded up $0.34 during mid-day trading on Thursday, hitting $20.63. The company’s stock had a trading volume of 439,800 shares, compared to its average volume of 258,438. SpartanNash has a twelve month low of $16.08 and a twelve month high of $26.99. The company has a current ratio of 1.99, a quick ratio of 0.84 and a debt-to-equity ratio of 0.94. The company has a market cap of $695.83 million, a P/E ratio of 9.82, a PEG ratio of 1.35 and a beta of 1.12.
SpartanNash (NASDAQ:SPTN) last posted its quarterly earnings results on Wednesday, November 7th. The company reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.02. SpartanNash had a net margin of 1.02% and a return on equity of 9.81%. The business had revenue of $1.89 billion during the quarter, compared to the consensus estimate of $1.91 billion. During the same quarter last year, the firm posted $0.54 EPS. SpartanNash’s revenue was up 1.0% compared to the same quarter last year. Sell-side analysts predict that SpartanNash will post 1.94 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, December 31st. Shareholders of record on Monday, December 17th were paid a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 3.49%. The ex-dividend date was Friday, December 14th. SpartanNash’s dividend payout ratio (DPR) is presently 34.29%.
In other news, Director Douglas A. Hacker sold 2,499 shares of SpartanNash stock in a transaction on Tuesday, November 27th. The stock was sold at an average price of $18.75, for a total transaction of $46,856.25. Following the sale, the director now directly owns 31,265 shares in the company, valued at approximately $586,218.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider David M. Staples sold 11,960 shares of SpartanNash stock in a transaction on Wednesday, November 28th. The stock was sold at an average price of $18.39, for a total value of $219,944.40. Following the sale, the insider now owns 182,706 shares in the company, valued at $3,359,963.34. The disclosure for this sale can be found here. 2.40% of the stock is currently owned by company insiders.
A number of institutional investors have recently made changes to their positions in SPTN. Commonwealth Bank of Australia purchased a new position in SpartanNash during the 3rd quarter valued at about $264,000. BlackRock Inc. grew its holdings in SpartanNash by 8.6% during the 2nd quarter. BlackRock Inc. now owns 5,178,585 shares of the company’s stock valued at $132,157,000 after buying an additional 408,988 shares in the last quarter. Stone Ridge Asset Management LLC grew its holdings in SpartanNash by 29.6% during the 3rd quarter. Stone Ridge Asset Management LLC now owns 38,242 shares of the company’s stock valued at $767,000 after buying an additional 8,737 shares in the last quarter. United Services Automobile Association purchased a new position in SpartanNash during the 2nd quarter valued at about $285,000. Finally, Northern Trust Corp grew its holdings in SpartanNash by 1.0% during the 2nd quarter. Northern Trust Corp now owns 772,030 shares of the company’s stock valued at $19,703,000 after buying an additional 7,331 shares in the last quarter. Institutional investors and hedge funds own 84.28% of the company’s stock.
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 retail locations, food service distributors, and corporate-owned retail stores.
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