Royal Bank of Canada started coverage on shares of SpartanNash (NASDAQ:SPTN) in a research report report published on Thursday, MarketBeat reports. The brokerage issued an outperform rating and a $25.00 price target on the stock.
Several other equities analysts have also commented on the stock. BidaskClub lowered shares of SpartanNash from a hold rating to a sell rating in a research report on Friday, September 28th. BMO Capital Markets lowered shares of SpartanNash from an outperform rating to a market perform rating and set a $23.00 price target for the company. in a research report on Thursday, November 8th. ValuEngine upgraded shares of SpartanNash from a strong sell rating to a sell rating in a research report on Thursday, November 8th. Northcoast Research upgraded shares of SpartanNash from a neutral rating to a buy rating in a research report on Thursday, November 15th. Finally, Barclays restated a hold rating and set a $20.00 price target on shares of SpartanNash in a research report on Wednesday, January 9th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company. The company currently has an average rating of Hold and a consensus target price of $21.83.
Shares of NASDAQ:SPTN opened at $20.63 on Thursday. The firm has a market cap of $695.83 million, a price-to-earnings ratio of 9.82, a price-to-earnings-growth ratio of 1.35 and a beta of 1.12. SpartanNash has a 1-year low of $16.08 and a 1-year high of $26.99. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.84 and a current ratio of 1.99.
SpartanNash (NASDAQ:SPTN) last issued its earnings results on Wednesday, November 7th. The company reported $0.50 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.48 by $0.02. The company had revenue of $1.89 billion for the quarter, compared to analysts’ expectations of $1.91 billion. SpartanNash had a net margin of 1.02% and a return on equity of 9.81%. The firm’s revenue was up 1.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.54 earnings per share. As a group, equities research analysts anticipate that SpartanNash will post 1.94 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Monday, December 31st. Stockholders of record on Monday, December 17th were given a dividend of $0.18 per share. The ex-dividend date was Friday, December 14th. This represents a $0.72 annualized dividend and a dividend yield of 3.49%. SpartanNash’s dividend payout ratio is currently 34.29%.
In related news, insider David M. Staples sold 11,960 shares of the stock in a transaction dated Wednesday, November 28th. The shares were sold at an average price of $18.39, for a total value of $219,944.40. Following the completion of the transaction, the insider now owns 182,706 shares in the company, valued at approximately $3,359,963.34. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Douglas A. Hacker sold 2,499 shares of the stock in a transaction dated Tuesday, November 27th. The shares were sold at an average price of $18.75, for a total transaction of $46,856.25. Following the completion of the transaction, the director now owns 31,265 shares of the company’s stock, valued at approximately $586,218.75. The disclosure for this sale can be found here. 2.40% of the stock is currently owned by corporate insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. BlackRock Inc. grew its position in SpartanNash by 1.6% in the 3rd quarter. BlackRock Inc. now owns 5,263,166 shares of the company’s stock valued at $105,581,000 after buying an additional 84,581 shares in the last quarter. Dimensional Fund Advisors LP grew its position in SpartanNash by 1.0% in the 3rd quarter. Dimensional Fund Advisors LP now owns 3,019,692 shares of the company’s stock valued at $60,575,000 after buying an additional 31,265 shares in the last quarter. Vanguard Group Inc. grew its position in SpartanNash by 1.3% in the 3rd quarter. Vanguard Group Inc. now owns 2,309,338 shares of the company’s stock valued at $46,324,000 after buying an additional 29,971 shares in the last quarter. Vanguard Group Inc grew its position in SpartanNash by 1.3% in the 3rd quarter. Vanguard Group Inc now owns 2,309,338 shares of the company’s stock valued at $46,324,000 after buying an additional 29,971 shares in the last quarter. Finally, LSV Asset Management grew its position in SpartanNash by 7.8% in the 3rd quarter. LSV Asset Management now owns 1,741,497 shares of the company’s stock valued at $34,934,000 after buying an additional 126,101 shares in the last quarter. Hedge funds and other institutional investors own 84.28% 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 retail locations, food service distributors, and corporate-owned retail stores.
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