SpartanNash Co (NASDAQ:SPTN) Receives Average Rating of “Hold” from Brokerages
SpartanNash Co (NASDAQ:SPTN) has received an average recommendation of “Hold” from the ten analysts that are presently covering the company, MarketBeat.com reports. Five investment analysts have rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $16.00.
A number of equities analysts have weighed in on the stock. Barclays cut shares of SpartanNash from an “equal weight” rating to an “underweight” rating in a research report on Tuesday, March 12th. BidaskClub cut shares of SpartanNash from a “strong-buy” rating to a “buy” rating in a research report on Thursday, March 7th. ValuEngine cut shares of SpartanNash from a “hold” rating to a “sell” rating in a research report on Wednesday, March 6th. Zacks Investment Research lowered shares of SpartanNash from a “hold” rating to a “sell” rating in a research note on Tuesday, May 7th. Finally, BMO Capital Markets set a $13.00 target price on shares of SpartanNash and gave the company a “hold” rating in a research note on Thursday, May 23rd.
Several institutional investors have recently modified their holdings of the company. Morgan Stanley increased its position in SpartanNash by 33.1% in the 3rd quarter. Morgan Stanley now owns 148,304 shares of the company’s stock valued at $2,975,000 after acquiring an additional 36,854 shares during the period. Bank of Montreal Can boosted its holdings in SpartanNash by 19.7% in the 4th quarter. Bank of Montreal Can now owns 6,155 shares of the company’s stock valued at $106,000 after purchasing an additional 1,015 shares in the last quarter. Arizona State Retirement System boosted its holdings in SpartanNash by 6.2% in the 4th quarter. Arizona State Retirement System now owns 55,347 shares of the company’s stock valued at $951,000 after purchasing an additional 3,221 shares in the last quarter. Crossmark Global Holdings Inc. boosted its holdings in SpartanNash by 55.3% in the 4th quarter. Crossmark Global Holdings Inc. now owns 22,298 shares of the company’s stock valued at $383,000 after purchasing an additional 7,940 shares in the last quarter. Finally, Rhumbline Advisers boosted its holdings in SpartanNash by 19.3% in the 4th quarter. Rhumbline Advisers now owns 107,963 shares of the company’s stock valued at $1,855,000 after purchasing an additional 17,499 shares in the last quarter. Institutional investors and hedge funds own 83.94% of the company’s stock.
SpartanNash (NASDAQ:SPTN) last announced its quarterly earnings results on Monday, May 20th. The company reported $0.24 earnings per share for the quarter, topping analysts’ consensus estimates of $0.23 by $0.01. The firm had revenue of $2.54 billion during the quarter, compared to analysts’ expectations of $2.51 billion. SpartanNash had a net margin of 0.35% and a return on equity of 7.77%. The firm’s revenue was up 6.6% on a year-over-year basis. During the same period in the prior year, the company earned $0.55 EPS. As a group, research analysts anticipate that SpartanNash will post 1.35 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be paid a $0.19 dividend. The ex-dividend date is Thursday, June 13th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 6.60%. SpartanNash’s dividend payout ratio (DPR) is presently 40.64%.
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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