SpartanNash Co (NASDAQ:SPTN) – Equities research analysts at Jefferies Financial Group reduced their Q4 2018 earnings per share estimates for shares of SpartanNash in a report issued on Thursday, August 16th. Jefferies Financial Group analyst C. Mandeville now expects that the company will earn $0.45 per share for the quarter, down from their previous estimate of $0.53. Jefferies Financial Group also issued estimates for SpartanNash’s Q1 2019 earnings at $0.61 EPS, Q2 2019 earnings at $0.56 EPS, Q3 2019 earnings at $0.51 EPS and Q4 2019 earnings at $0.45 EPS.
SpartanNash (NASDAQ:SPTN) last issued its quarterly earnings data on Wednesday, August 15th. The company reported $0.50 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.07). SpartanNash had a negative net margin of 0.72% and a positive return on equity of 10.23%. The company had revenue of $1.90 billion for the quarter, compared to analysts’ expectations of $1.88 billion. During the same quarter last year, the company earned $0.60 earnings per share. The company’s revenue for the quarter was up 2.1% on a year-over-year basis.
Several other equities research analysts also recently weighed in on the company. Deutsche Bank reduced their price target on SpartanNash from $21.00 to $20.00 and set a “hold” rating on the stock in a report on Friday, August 17th. BMO Capital Markets set a $23.00 price target on SpartanNash and gave the stock a “buy” rating in a report on Friday, August 17th. Zacks Investment Research upgraded SpartanNash from a “sell” rating to a “hold” rating in a report on Thursday, August 16th. BidaskClub upgraded SpartanNash from a “sell” rating to a “hold” rating in a report on Thursday, August 16th. Finally, ValuEngine downgraded SpartanNash from a “sell” rating to a “strong sell” rating in a report on Monday, July 30th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the stock. SpartanNash currently has a consensus rating of “Hold” and a consensus price target of $22.33.
Shares of NASDAQ SPTN opened at $20.83 on Monday. The company has a current ratio of 2.06, a quick ratio of 0.88 and a debt-to-equity ratio of 0.97. SpartanNash has a fifty-two week low of $16.32 and a fifty-two week high of $27.72. The company has a market capitalization of $714.48 million, a PE ratio of 9.93, a price-to-earnings-growth ratio of 1.64 and a beta of 1.15.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in SPTN. BlackRock Inc. increased its holdings in SpartanNash by 8.6% during the 2nd quarter. BlackRock Inc. now owns 5,178,585 shares of the company’s stock worth $132,157,000 after purchasing an additional 408,988 shares during the period. Millennium Management LLC increased its holdings in SpartanNash by 1,243.7% during the 2nd quarter. Millennium Management LLC now owns 324,526 shares of the company’s stock worth $8,282,000 after purchasing an additional 300,375 shares during the period. Renaissance Technologies LLC purchased a new position in SpartanNash during the 2nd quarter worth $4,659,000. United Services Automobile Association purchased a new position in SpartanNash during the 2nd quarter worth $7,901,000. Finally, LSV Asset Management increased its holdings in SpartanNash by 7.7% during the 1st quarter. LSV Asset Management now owns 1,621,596 shares of the company’s stock worth $27,907,000 after purchasing an additional 116,000 shares during the period. Institutional investors own 83.46% of the company’s stock.
In other news, CEO David M. Staples sold 3,989 shares of the stock in a transaction that occurred on Wednesday, May 30th. The stock was sold at an average price of $23.00, for a total value of $91,747.00. Following the sale, the chief executive officer now directly owns 174,760 shares in the company, valued at $4,019,480. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO David M. Staples sold 1,865 shares of the stock in a transaction that occurred on Friday, June 15th. The stock was sold at an average price of $25.81, for a total value of $48,135.65. Following the completion of the sale, the chief executive officer now owns 168,906 shares in the company, valued at $4,359,463.86. The disclosure for this sale can be found here. Over the last quarter, insiders sold 67,096 shares of company stock worth $1,753,571. Company insiders own 2.40% of the company’s stock.
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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