Northcoast Research Weighs in on SpartanNash Co’s Q2 2019 Earnings (NASDAQ:SPTN)
SpartanNash Co (NASDAQ:SPTN) – Analysts at Northcoast Research cut their Q2 2019 EPS estimates for SpartanNash in a note issued to investors on Tuesday, July 9th. Northcoast Research analyst C. Cerankosky now anticipates that the company will earn $0.35 per share for the quarter, down from their prior estimate of $0.39. Northcoast Research also issued estimates for SpartanNash’s FY2019 earnings at $1.44 EPS.
SPTN has been the subject of a number of other reports. ValuEngine lowered Zynerba Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Tuesday, May 28th. Barclays decreased their price objective on SpartanNash from $15.00 to $13.00 and set an “underweight” rating for the company in a report on Tuesday, May 21st. Zacks Investment Research lowered GENEL ENERGY PL/ADR from a “buy” rating to a “hold” rating in a report on Tuesday, May 7th. Pivotal Research reduced their target price on SpartanNash from $12.00 to $10.00 and set a “sell” rating for the company in a report on Tuesday, June 11th. Finally, BMO Capital Markets reaffirmed a “hold” rating on shares of Royal Bank of Canada in a report on Thursday, May 23rd. Five equities research analysts have rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the stock. SpartanNash presently has a consensus rating of “Hold” and a consensus target price of $16.00.
SpartanNash (NASDAQ:SPTN) last issued its quarterly earnings data on Monday, May 20th. The company reported $0.24 EPS 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 analyst estimates of $2.51 billion. SpartanNash had a return on equity of 7.77% and a net margin of 0.35%. The company’s revenue for the quarter was up 6.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.55 EPS.
Hedge funds have recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. grew its holdings in shares of SpartanNash by 77.2% in the fourth quarter. PNC Financial Services Group Inc. now owns 1,588 shares of the company’s stock valued at $27,000 after acquiring an additional 692 shares in the last quarter. Advisor Group Inc. lifted its stake in SpartanNash by 28.4% in the fourth quarter. Advisor Group Inc. now owns 3,213 shares of the company’s stock valued at $55,000 after purchasing an additional 711 shares during the last quarter. Quantamental Technologies LLC lifted its stake in SpartanNash by 35.5% in the first quarter. Quantamental Technologies LLC now owns 3,859 shares of the company’s stock valued at $61,000 after purchasing an additional 1,011 shares during the last quarter. Meeder Asset Management Inc. lifted its stake in SpartanNash by 270.5% in the first quarter. Meeder Asset Management Inc. now owns 5,758 shares of the company’s stock valued at $91,000 after purchasing an additional 4,204 shares during the last quarter. Finally, BNP Paribas Arbitrage SA lifted its stake in SpartanNash by 126.1% in the first 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. 83.94% of the stock is owned by institutional investors.
The firm also recently announced a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 14th were issued a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 6.70%. The ex-dividend date was Thursday, June 13th. SpartanNash’s dividend payout ratio is presently 40.64%.
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.
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