SpartanNash Co (NASDAQ:SPTN) Expected to Announce Quarterly Sales of $2.16 Billion
Wall Street analysts forecast that SpartanNash Co (NASDAQ:SPTN) will post $2.16 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for SpartanNash’s earnings. The lowest sales estimate is $2.00 billion and the highest is $2.31 billion. SpartanNash reported sales of $2.00 billion during the same quarter last year, which indicates a positive year over year growth rate of 8%. The company is expected to announce its next quarterly earnings report on Wednesday, August 12th.
According to Zacks, analysts expect that SpartanNash will report full-year sales of $9.09 billion for the current fiscal year, with estimates ranging from $8.75 billion to $9.43 billion. For the next year, analysts forecast that the firm will post sales of $8.70 billion, with estimates ranging from $8.67 billion to $8.72 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that follow SpartanNash.
SpartanNash (NASDAQ:SPTN) last issued its earnings results on Wednesday, May 27th. The company reported $0.67 earnings per share for the quarter, beating analysts’ consensus estimates of $0.48 by $0.19. SpartanNash had a return on equity of 8.07% and a net margin of 0.15%. The company had revenue of $2.86 billion for the quarter, compared to the consensus estimate of $2.62 billion. During the same quarter in the prior year, the company earned $0.24 EPS. The firm’s quarterly revenue was up 12.4% on a year-over-year basis.
NASDAQ:SPTN traded up $0.15 during mid-day trading on Thursday, reaching $21.25. The stock had a trading volume of 533,753 shares, compared to its average volume of 485,611. The business’s 50 day moving average is $19.48 and its 200 day moving average is $15.21. SpartanNash has a fifty-two week low of $8.82 and a fifty-two week high of $22.80. The stock has a market cap of $759.63 million, a P/E ratio of 55.92 and a beta of 1.04. The company has a debt-to-equity ratio of 1.25, a current ratio of 1.54 and a quick ratio of 0.78.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Friday, June 12th will be given a $0.192 dividend. The ex-dividend date is Thursday, June 11th. This represents a $0.77 annualized dividend and a yield of 3.61%. SpartanNash’s dividend payout ratio (DPR) is currently 70.00%.
Institutional investors have recently added to or reduced their stakes in the business. Advisor Group Holdings Inc. acquired a new stake in shares of SpartanNash in the first quarter valued at $45,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in SpartanNash by 55.8% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,310 shares of the company’s stock valued at $47,000 after acquiring an additional 1,186 shares during the last quarter. PNC Financial Services Group Inc. boosted its holdings in SpartanNash by 43.8% in the fourth quarter. PNC Financial Services Group Inc. now owns 3,659 shares of the company’s stock valued at $52,000 after acquiring an additional 1,115 shares during the last quarter. Total Clarity Wealth Management Inc. bought a new position in SpartanNash in the fourth quarter valued at about $75,000. Finally, Ellington Management Group LLC bought a new position in SpartanNash in the fourth quarter valued at about $147,000. Hedge funds and other institutional investors own 78.30% of the company’s stock.
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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