SpartanNash Co (NASDAQ:SPTN)’s share price traded up 6.3% on Monday . The company traded as high as $13.06 and last traded at $13.04, 411,564 shares were traded during trading. An increase of 35% from the average session volume of 305,186 shares. The stock had previously closed at $12.27.
A number of research analysts have recently weighed in on the stock. BMO Capital Markets downgraded shares of SpartanNash from a “market perform” rating to an “underperform” rating and reduced their target price for the company from $13.00 to $8.00 in a research report on Friday, August 2nd. Zacks Investment Research downgraded shares of SpartanNash from a “hold” rating to a “sell” rating in a research report on Tuesday. Barclays reduced their target price on shares of SpartanNash from $13.00 to $8.00 and set an “underweight” rating for the company in a research report on Tuesday, August 13th. Loop Capital assumed coverage on shares of SpartanNash in a research report on Tuesday, June 25th. They set a “buy” rating and a $15.00 target price for the company. Finally, BidaskClub raised shares of SpartanNash from a “strong sell” rating to a “sell” rating in a research report on Thursday, October 10th. Four research analysts have rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $13.00.
The company’s fifty day moving average is $11.91 and its 200 day moving average is $12.58. The company has a market capitalization of $474.17 million, a P/E ratio of 7.33, a P/E/G ratio of 1.44 and a beta of 1.39. The company has a current ratio of 1.76, a quick ratio of 0.75 and a debt-to-equity ratio of 1.40.
SpartanNash (NASDAQ:SPTN) last released its quarterly earnings data on Wednesday, August 14th. The company reported $0.34 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.34. The company had revenue of $2 billion during the quarter, compared to the consensus estimate of $2.01 billion. SpartanNash had a net margin of 0.05% and a return on equity of 7.07%. SpartanNash’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same period last year, the firm earned $0.56 EPS. Equities research analysts predict that SpartanNash Co will post 1.29 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were issued a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 5.54%. The ex-dividend date of this dividend was Friday, September 13th. SpartanNash’s dividend payout ratio (DPR) is presently 40.64%.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in SPTN. Nuveen Asset Management LLC bought a new position in SpartanNash in the 2nd quarter worth approximately $5,803,000. Invesco Ltd. boosted its holdings in 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 during the period. Vanguard Group Inc. boosted its holdings in 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 during the period. Renaissance Technologies LLC boosted its holdings in 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 during the period. Finally, Assenagon Asset Management S.A. bought a new position in SpartanNash in the 3rd quarter worth approximately $1,862,000. 83.66% of the stock is owned by institutional investors.
SpartanNash Company Profile (NASDAQ:SPTN)
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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