SpartanNash (SPTN) Rating Increased to Sell at ValuEngine

ValuEngine upgraded shares of SpartanNash (NASDAQ:SPTN) from a strong sell rating to a sell rating in a research report released on Saturday morning.

Several other equities analysts have also recently commented on the stock. Zacks Investment Research cut shares of SpartanNash from a buy rating to a hold rating in a research note on Tuesday, June 5th. BidaskClub raised shares of SpartanNash from a hold rating to a buy rating in a research note on Saturday, June 2nd. Barclays raised their target price on shares of SpartanNash from $17.00 to $23.00 and gave the company an equal weight rating in a research note on Thursday, May 31st. BMO Capital Markets set a $25.00 target price on shares of SpartanNash and gave the company a buy rating in a research note on Thursday, May 31st. Finally, Pivotal Research set a $15.00 target price on shares of SpartanNash and gave the company a sell rating in a research note on Thursday, May 31st. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company. SpartanNash presently has an average rating of Hold and a consensus price target of $22.83.

SpartanNash stock opened at $26.20 on Friday. The stock has a market cap of $941.16 million, a price-to-earnings ratio of 12.48, a P/E/G ratio of 1.93 and a beta of 1.19. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.88 and a current ratio of 2.12. SpartanNash has a 52 week low of $16.32 and a 52 week high of $28.17.

SpartanNash (NASDAQ:SPTN) last released its earnings results on Tuesday, May 29th. The company reported $0.55 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.53 by $0.02. The firm had revenue of $2.39 billion for the quarter, compared to analysts’ expectations of $2.38 billion. SpartanNash had a negative net margin of 0.68% and a positive return on equity of 10.44%. SpartanNash’s quarterly revenue was up 1.3% on a year-over-year basis. During the same quarter last year, the company earned $0.55 EPS. research analysts forecast that SpartanNash will post 2.26 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 29th. Stockholders of record on Friday, June 15th will be given a dividend of $0.18 per share. The ex-dividend date is Thursday, June 14th. This represents a $0.72 annualized dividend and a dividend yield of 2.75%. SpartanNash’s dividend payout ratio (DPR) is 34.29%.

In other news, insider Kathleen M. Mahoney sold 10,000 shares of the firm’s stock in a transaction dated Monday, June 4th. The shares were sold at an average price of $26.50, for a total transaction of $265,000.00. Following the completion of the transaction, the insider now owns 59,451 shares in the company, valued at approximately $1,575,451.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO David M. Staples sold 3,989 shares of the firm’s stock in a transaction dated Wednesday, May 30th. The shares were sold at an average price of $23.00, for a total transaction of $91,747.00. Following the transaction, the chief executive officer now owns 174,760 shares of the company’s stock, valued at approximately $4,019,480. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 65,231 shares of company stock valued at $1,705,435. Insiders own 3.00% of the company’s stock.

Large investors have recently bought and sold shares of the company. Koch Industries Inc. bought a new position in shares of SpartanNash during the 1st quarter valued at about $180,000. Gotham Asset Management LLC bought a new position in shares of SpartanNash during the 4th quarter valued at about $246,000. Ladenburg Thalmann Financial Services Inc. boosted its position in shares of SpartanNash by 754.3% during the 4th quarter. Ladenburg Thalmann Financial Services Inc. now owns 9,474 shares of the company’s stock valued at $253,000 after purchasing an additional 8,365 shares in the last quarter. Cubist Systematic Strategies LLC bought a new position in shares of SpartanNash during the 1st quarter valued at about $266,000. Finally, Assetmark Inc. boosted its position in shares of SpartanNash by 38.7% during the 1st quarter. Assetmark Inc. now owns 17,975 shares of the company’s stock valued at $309,000 after purchasing an additional 5,018 shares in the last quarter. Institutional investors own 83.93% of the company’s stock.

About SpartanNash

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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for SpartanNash (NASDAQ:SPTN)

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