SpartanNash Co (NASDAQ:SPTN) was the recipient of a significant decline in short interest during the month of January. As of January 12th, there was short interest totalling 739,217 shares, a decline of 25.0% from the December 29th total of 986,199 shares. Approximately 2.1% of the shares of the stock are sold short. Based on an average daily trading volume, of 221,617 shares, the days-to-cover ratio is currently 3.3 days.
Hedge funds have recently added to or reduced their stakes in the stock. Piedmont Investment Advisors LLC acquired a new position in SpartanNash in the second quarter valued at $212,000. Suntrust Banks Inc. lifted its holdings in SpartanNash by 1.8% in the second quarter. Suntrust Banks Inc. now owns 10,259 shares of the company’s stock valued at $266,000 after buying an additional 183 shares during the period. Quantbot Technologies LP acquired a new position in SpartanNash in the second quarter valued at $329,000. Assetmark Inc. lifted its holdings in SpartanNash by 30.4% in the third quarter. Assetmark Inc. now owns 13,276 shares of the company’s stock valued at $350,000 after buying an additional 3,094 shares during the period. Finally, Crossmark Global Holdings Inc. acquired a new position in SpartanNash in the third quarter valued at $368,000. Institutional investors and hedge funds own 86.05% of the company’s stock.
Shares of SpartanNash (SPTN) opened at $25.10 on Monday. 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 one year low of $18.56 and a one year high of $39.67. The firm has a market cap of $917.03, a price-to-earnings ratio of -12.49, a P/E/G ratio of 1.94 and a beta of 1.02.
SpartanNash (NASDAQ:SPTN) last issued its quarterly earnings data on Wednesday, November 8th. The company reported $0.54 earnings per share for the quarter, hitting the consensus estimate of $0.54. SpartanNash had a negative net margin of 0.93% and a positive return on equity of 10.35%. The company had revenue of $1.91 billion for the quarter, compared to analysts’ expectations of $1.90 billion. During the same quarter in the previous year, the firm posted $0.53 earnings per share. SpartanNash’s revenue for the quarter was up 6.1% on a year-over-year basis. analysts forecast that SpartanNash will post 2.11 EPS for the current year.
SpartanNash announced that its Board of Directors has authorized a stock repurchase program on Thursday, November 16th that allows the company to repurchase $50.00 million in outstanding shares. This repurchase authorization allows the company to reacquire shares of its stock through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.
A number of analysts have weighed in on SPTN shares. TheStreet cut shares of SpartanNash from a “b-” rating to a “c-” rating in a research note on Wednesday, November 8th. ValuEngine cut shares of SpartanNash from a “buy” rating to a “hold” rating in a research note on Sunday, December 31st. Northcoast Research cut shares of SpartanNash from a “buy” rating to a “neutral” rating in a research note on Friday, January 5th. Pivotal Research reissued a “sell” rating and issued a $18.00 price objective on shares of SpartanNash in a research note on Wednesday, November 8th. Finally, Barclays reduced their price objective on shares of SpartanNash from $28.00 to $22.00 and set an “equal weight” rating on the stock in a research note on Friday, November 10th. Three research analysts have rated the stock with a sell rating and six have assigned a hold rating to the stock. The company has a consensus rating of “Hold” and an average target price of $23.20.
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SpartanNash Company Profile
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.
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