SpartanNash (SPTN) Downgraded by BidaskClub to “Sell”

BidaskClub cut shares of SpartanNash (NASDAQ:SPTN) from a hold rating to a sell rating in a report published on Thursday morning.

SPTN has been the subject of a number of other research reports. Pivotal Research reissued a sell rating and issued a $18.00 price target on shares of SpartanNash in a research note on Wednesday, November 8th. Northcoast Research lowered shares of SpartanNash from a buy rating to a neutral rating in a report on Friday, January 5th. Barclays lowered their price objective on shares of SpartanNash from $28.00 to $22.00 and set an equal weight rating for the company in a report on Friday, November 10th. Jefferies Group restated a hold rating and issued a $25.00 price objective on shares of SpartanNash in a report on Monday, October 16th. Finally, TheStreet lowered shares of SpartanNash from a b- rating to a c- rating in a report on Wednesday, November 8th. Three analysts have rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. The stock currently has an average rating of Hold and a consensus target price of $23.20.

SpartanNash (NASDAQ SPTN) opened at $24.70 on Thursday. The company has a quick ratio of 0.74, a current ratio of 1.81 and a debt-to-equity ratio of 0.92. SpartanNash has a 12 month low of $18.56 and a 12 month high of $39.67. The company has a market cap of $913.20, a P/E ratio of -12.29, a price-to-earnings-growth ratio of 1.89 and a beta of 1.02.

SpartanNash (NASDAQ:SPTN) last released its quarterly earnings results on Wednesday, November 8th. The company reported $0.54 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.54. SpartanNash had a negative net margin of 6.47% and a negative return on equity of 67.84%. The business had revenue of $1.91 billion during the quarter, compared to analysts’ expectations of $1.90 billion. During the same quarter in the previous year, the company earned $0.53 EPS. The business’s quarterly revenue was up 6.1% compared to the same quarter last year. sell-side analysts expect that SpartanNash will post 2.11 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 29th. Stockholders of record on Friday, December 8th were issued a $0.165 dividend. The ex-dividend date of this dividend was Thursday, December 7th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 2.67%. SpartanNash’s payout ratio is -32.84%.

SpartanNash announced that its Board of Directors has authorized a share buyback program on Thursday, November 16th that allows the company to repurchase $50.00 million in shares. This repurchase authorization allows the company to purchase shares of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its stock is undervalued.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in shares of SpartanNash by 8.4% in the 2nd quarter. Vanguard Group Inc. now owns 2,757,235 shares of the company’s stock worth $71,578,000 after acquiring an additional 212,923 shares during the last quarter. State Street Corp lifted its holdings in shares of SpartanNash by 5.6% in the 2nd quarter. State Street Corp now owns 1,065,210 shares of the company’s stock worth $27,654,000 after acquiring an additional 56,359 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of SpartanNash by 3.2% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,032,110 shares of the company’s stock worth $27,217,000 after acquiring an additional 31,792 shares during the last quarter. Northern Trust Corp raised its holdings in SpartanNash by 10.0% during the 2nd quarter. Northern Trust Corp now owns 797,462 shares of the company’s stock valued at $20,702,000 after buying an additional 72,318 shares during the last quarter. Finally, Janus Henderson Group PLC bought a new stake in SpartanNash during the 3rd quarter valued at $20,161,000. Hedge funds and other institutional investors own 86.05% of the company’s stock.

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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.

Analyst Recommendations for SpartanNash (NASDAQ:SPTN)

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