SpartanNash (NASDAQ:SPTN) Rating Increased to Buy at ValuEngine
SPTN has been the topic of several other research reports. BidaskClub cut shares of SpartanNash from a hold rating to a sell rating in a research report on Friday, November 1st. BMO Capital Markets cut shares of SpartanNash from a market perform rating to an underperform rating and reduced their price target for the company from $13.00 to $8.00 in a research report on Friday, August 2nd. TheStreet cut shares of SpartanNash from a c rating to a d+ rating in a research report on Wednesday, August 14th. Zacks Investment Research cut shares of SpartanNash from a hold rating to a sell rating in a research report on Tuesday, November 12th. Finally, Barclays reduced their price target on shares of SpartanNash from $13.00 to $8.00 and set an underweight rating on the stock in a research report on Tuesday, August 13th. Four investment analysts have rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the stock. The stock has an average rating of Hold and a consensus price target of $13.00.
Shares of NASDAQ SPTN traded up $0.06 during midday trading on Thursday, hitting $12.76. 235,100 shares of the company traded hands, compared to its average volume of 312,357. SpartanNash has a 12-month low of $8.82 and a 12-month high of $22.49. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.74 and a current ratio of 1.72. The stock has a 50-day moving average price of $12.61 and a 200 day moving average price of $12.13. The firm has a market cap of $457.25 million, a P/E ratio of 6.82, a P/E/G ratio of 1.45 and a beta of 1.38.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Tuesday, December 10th will be paid a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 5.96%. The ex-dividend date is Monday, December 9th. SpartanNash’s payout ratio is currently 40.64%.
A number of large investors have recently bought and sold shares of the stock. Massachusetts Financial Services Co. MA boosted its stake in SpartanNash by 12.7% during the third quarter. Massachusetts Financial Services Co. MA now owns 104,810 shares of the company’s stock worth $1,239,000 after acquiring an additional 11,849 shares in the last quarter. Mackay Shields LLC bought a new stake in SpartanNash during the third quarter worth about $254,000. Russell Investments Group Ltd. boosted its stake in SpartanNash by 40.1% during the third quarter. Russell Investments Group Ltd. now owns 66,640 shares of the company’s stock worth $789,000 after acquiring an additional 19,057 shares in the last quarter. California Public Employees Retirement System boosted its stake in SpartanNash by 13.0% during the third quarter. California Public Employees Retirement System now owns 38,649 shares of the company’s stock worth $457,000 after acquiring an additional 4,461 shares in the last quarter. Finally, State of Tennessee Treasury Department boosted its stake in SpartanNash by 25.1% during the third quarter. State of Tennessee Treasury Department now owns 38,907 shares of the company’s stock worth $460,000 after acquiring an additional 7,796 shares in the last quarter. 81.74% of the stock is currently owned by institutional investors and hedge funds.
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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