SpartanNash Co (NASDAQ:SPTN) was the recipient of a large drop in short interest during the month of July. As of July 15th, there was short interest totalling 2,520,000 shares, a drop of 11.6% from the June 30th total of 2,850,000 shares. Approximately 7.3% of the shares of the company are short sold. Based on an average daily volume of 512,400 shares, the days-to-cover ratio is presently 4.9 days.
In other news, Director M Shan Atkins sold 3,000 shares of the firm’s stock in a transaction on Monday, July 6th. The stock was sold at an average price of $21.23, for a total transaction of $63,690.00. Following the completion of the sale, the director now directly owns 48,112 shares of the company’s stock, valued at approximately $1,021,417.76. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Over the last ninety days, insiders have sold 15,173 shares of company stock valued at $337,410. Insiders own 1.80% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the company. MERIAN GLOBAL INVESTORS UK Ltd bought a new stake in shares of SpartanNash during the 1st quarter valued at about $2,311,000. ClariVest Asset Management LLC bought a new stake in shares of SpartanNash during the 1st quarter valued at about $595,000. Invesco Ltd. boosted its position in shares of SpartanNash by 16.5% during the 1st quarter. Invesco Ltd. now owns 885,155 shares of the company’s stock valued at $12,675,000 after acquiring an additional 125,312 shares during the last quarter. UBS Group AG boosted its position in shares of SpartanNash by 315.3% during the 4th quarter. UBS Group AG now owns 120,053 shares of the company’s stock valued at $1,709,000 after acquiring an additional 91,144 shares during the last quarter. Finally, Alpha Windward LLC bought a new stake in shares of SpartanNash during the 2nd quarter valued at about $397,000. Hedge funds and other institutional investors own 79.31% of the company’s stock.
SPTN stock opened at $21.03 on Friday. The company has a quick ratio of 0.78, a current ratio of 1.54 and a debt-to-equity ratio of 1.25. The firm has a market capitalization of $750.19 million, a PE ratio of 13.65 and a beta of 1.06. SpartanNash has a twelve month low of $8.82 and a twelve month high of $23.94. The stock has a 50-day simple moving average of $20.58 and a two-hundred day simple moving average of $16.37.
SpartanNash (NASDAQ:SPTN) last issued its quarterly earnings results on Wednesday, May 27th. The company reported $0.67 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.48 by $0.19. The firm had revenue of $2.86 billion during the quarter, compared to the consensus estimate of $2.62 billion. SpartanNash had a return on equity of 8.07% and a net margin of 0.15%. The company’s revenue for the quarter was up 12.4% on a year-over-year basis. During the same quarter last year, the company posted $0.24 EPS. On average, equities research analysts anticipate that SpartanNash will post 2.01 EPS for the current fiscal year.
Several equities research analysts recently weighed in on the company. Zacks Investment Research raised SpartanNash from a “hold” rating to a “strong-buy” rating and set a $19.00 price objective for the company in a report on Friday, April 24th. ValuEngine raised SpartanNash from a “strong sell” rating to a “sell” rating in a report on Saturday, June 27th. Barclays reissued a “hold” rating and issued a $20.00 price objective on shares of SpartanNash in a report on Friday, May 29th. BidaskClub raised SpartanNash from a “buy” rating to a “strong-buy” rating in a report on Wednesday. Finally, Deutsche Bank lifted their target price on SpartanNash from $12.00 to $20.00 and gave the company a “hold” rating in a report on Wednesday, July 1st. One research analyst has rated the stock with a sell rating, five have issued a hold rating and two have issued a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $16.40.
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 retailers, national retailers, food service distributors, e-commerce providers, and corporate owned retail stores.
Further Reading: Straddles
Receive News & Ratings for SpartanNash Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SpartanNash and related companies with MarketBeat.com's FREE daily email newsletter.