SpartanNash Co (NASDAQ:SPTN)’s stock price shot up 5.8% on Wednesday . The stock traded as high as $12.39 and last traded at $12.33, 127,190 shares were traded during mid-day trading. A decline of 57% from the average session volume of 292,886 shares. The stock had previously closed at $11.65.
A number of research firms have issued reports on SPTN. TheStreet cut SpartanNash from a “c” rating to a “d+” rating in a research report on Wednesday, August 14th. BMO Capital Markets downgraded SpartanNash from a “market perform” rating to an “underperform” rating and lowered their target price for the stock from $13.00 to $8.00 in a research note on Friday, August 2nd. Barclays dropped their target price on shares of SpartanNash from $13.00 to $8.00 and set an “underweight” rating for the company in a report on Tuesday, August 13th. ValuEngine raised shares of SpartanNash from a “sell” rating to a “hold” rating in a research note on Wednesday. Finally, BidaskClub downgraded shares of SpartanNash from a “sell” rating to a “strong sell” rating in a research note on Wednesday, September 4th. Three research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the stock. SpartanNash presently has an average rating of “Hold” and a consensus target price of $13.00.
The business has a 50-day simple moving average of $10.81 and a 200 day simple moving average of $13.59. The stock has a market cap of $431.24 million, a P/E ratio of 6.59, a price-to-earnings-growth ratio of 1.23 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 issued its quarterly earnings data on Wednesday, August 14th. The company reported $0.34 earnings per share (EPS) for the quarter, hitting the Zacks’ 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 return on equity of 7.07% and a net margin of 0.05%. The firm’s revenue was up 5.3% compared to the same quarter last year. During the same period last year, the company earned $0.56 earnings per share. As a group, equities analysts expect that SpartanNash Co will post 1.29 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 6.16%. The ex-dividend date is Friday, September 13th. SpartanNash’s dividend payout ratio is presently 40.64%.
A number of institutional investors have recently added to or reduced their stakes in SPTN. BNP Paribas Arbitrage SA boosted its stake in shares of SpartanNash by 126.1% in the 1st quarter. BNP Paribas Arbitrage SA now owns 7,540 shares of the company’s stock valued at $120,000 after purchasing an additional 4,205 shares during the last quarter. Bank of Montreal Can raised its stake in SpartanNash by 1,076.2% during the first quarter. Bank of Montreal Can now owns 72,395 shares of the company’s stock worth $1,149,000 after buying an additional 66,240 shares during the last quarter. SG Americas Securities LLC lifted its holdings in SpartanNash by 68.7% in the first quarter. SG Americas Securities LLC now owns 26,439 shares of the company’s stock valued at $420,000 after buying an additional 10,769 shares during the period. Rhumbline Advisers lifted its holdings in SpartanNash by 1.0% in the first quarter. Rhumbline Advisers now owns 109,002 shares of the company’s stock valued at $1,730,000 after buying an additional 1,039 shares during the period. Finally, Robeco Institutional Asset Management B.V. lifted its holdings in SpartanNash by 277.0% in the first quarter. Robeco Institutional Asset Management B.V. now owns 311,204 shares of the company’s stock valued at $4,940,000 after buying an additional 228,646 shares during the period. Hedge funds and other institutional investors own 84.24% of the company’s stock.
About SpartanNash (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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