Royal Bank of Canada initiated coverage on shares of SpartanNash (NASDAQ:SPTN) in a research report sent to investors on Thursday morning, Marketbeat.com reports. The brokerage issued an outperform rating and a $25.00 target price on the stock.
A number of other research analysts have also recently commented on SPTN. Zacks Investment Research raised shares of SpartanNash from a sell rating to a hold rating in a report on Wednesday. BidaskClub raised shares of SpartanNash from a hold rating to a buy rating in a report on Friday, December 21st. Barclays reissued a hold rating and issued a $20.00 target price on shares of SpartanNash in a report on Wednesday. Northcoast Research raised shares of SpartanNash from a neutral rating to a buy rating in a report on Thursday, November 15th. Finally, ValuEngine raised shares of SpartanNash from a strong sell rating to a sell rating in a report on Thursday, November 8th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company’s stock. The company currently has an average rating of Hold and a consensus target price of $21.83.
Shares of SPTN stock traded up $0.34 on Thursday, reaching $20.63. The company had a trading volume of 439,800 shares, compared to its average volume of 258,438. The stock has a market capitalization of $695.83 million, a P/E ratio of 9.82, a price-to-earnings-growth ratio of 1.35 and a beta of 1.12. The company has a current ratio of 1.99, a quick ratio of 0.84 and a debt-to-equity ratio of 0.94. SpartanNash has a one year low of $16.08 and a one year high of $26.99.
SpartanNash (NASDAQ:SPTN) last posted its earnings results on Wednesday, November 7th. The company reported $0.50 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.02. The firm had revenue of $1.89 billion during the quarter, compared to analysts’ expectations of $1.91 billion. SpartanNash had a net margin of 1.02% and a return on equity of 9.81%. The business’s revenue for the quarter was up 1.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.54 earnings per share. As a group, equities analysts predict that SpartanNash will post 1.94 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 31st. Investors of record on Monday, December 17th were issued a $0.18 dividend. The ex-dividend date of this dividend was Friday, December 14th. This represents a $0.72 dividend on an annualized basis and a yield of 3.49%. SpartanNash’s dividend payout ratio (DPR) is presently 34.29%.
In other SpartanNash news, insider David M. Staples sold 11,960 shares of the firm’s stock in a transaction that occurred on Wednesday, November 28th. The shares were sold at an average price of $18.39, for a total transaction of $219,944.40. Following the completion of the transaction, the insider now owns 182,706 shares in the company, valued at approximately $3,359,963.34. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Douglas A. Hacker sold 2,499 shares of the firm’s stock in a transaction that occurred 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 transaction, the director now owns 31,265 shares of the company’s stock, valued at approximately $586,218.75. The disclosure for this sale can be found here. 2.40% of the stock is owned by company insiders.
A number of institutional investors have recently added to or reduced their stakes in the business. Cubist Systematic Strategies LLC raised its holdings in SpartanNash by 29.4% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 19,968 shares of the company’s stock worth $510,000 after purchasing an additional 4,537 shares during the last quarter. IndexIQ Advisors LLC raised its holdings in SpartanNash by 3.9% during the 3rd quarter. IndexIQ Advisors LLC now owns 132,089 shares of the company’s stock worth $2,650,000 after purchasing an additional 4,988 shares during the last quarter. Bessemer Group Inc. bought a new position in SpartanNash during the 3rd quarter worth approximately $102,000. Legal & General Group Plc raised its holdings in SpartanNash by 5.5% during the 3rd quarter. Legal & General Group Plc now owns 106,454 shares of the company’s stock worth $2,136,000 after purchasing an additional 5,515 shares during the last quarter. Finally, Northern Trust Corp raised its holdings in SpartanNash by 1.0% during the 2nd quarter. Northern Trust Corp now owns 772,030 shares of the company’s stock worth $19,703,000 after purchasing an additional 7,331 shares during the last quarter. Hedge funds and other institutional investors 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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