SpartanNash Company (NASDAQ:SPTN) was upgraded by equities research analysts at BidaskClub from a “sell” rating to a “hold” rating in a research report issued on Monday, July 31st.
Several other equities analysts also recently weighed in on SPTN. Barclays PLC restated an “equal weight” rating and issued a $28.00 target price (down previously from $36.00) on shares of SpartanNash in a research report on Friday, July 14th. Zacks Investment Research downgraded SpartanNash from a “hold” rating to a “sell” rating in a research report on Saturday, May 27th. Pivotal Research reduced their price objective on SpartanNash from $40.00 to $35.00 and set a “hold” rating on the stock in a research report on Wednesday, May 24th. Jefferies Group LLC set a $35.00 price objective on SpartanNash and gave the stock a “hold” rating in a research report on Wednesday, June 14th. Finally, ValuEngine downgraded SpartanNash from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Three research analysts have rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $28.40.
SpartanNash (NASDAQ:SPTN) traded down 1.94% during mid-day trading on Monday, hitting $24.24. 287,887 shares of the stock traded hands. SpartanNash has a 1-year low of $23.70 and a 1-year high of $40.38. The firm has a market capitalization of $909.85 million, a P/E ratio of 13.88 and a beta of 1.00. The company has a 50-day moving average of $26.46 and a 200 day moving average of $32.16.
SpartanNash (NASDAQ:SPTN) last released its earnings results on Wednesday, August 16th. The company reported $0.60 earnings per share for the quarter, meeting the consensus estimate of $0.60. The business had revenue of $1.89 billion for the quarter, compared to the consensus estimate of $1.96 billion. SpartanNash had a return on equity of 10.00% and a net margin of 0.83%. The business’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.58 earnings per share. On average, equities research analysts anticipate that SpartanNash will post $2.26 EPS for the current year.
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In other news, Director M Shan Atkins sold 2,000 shares of SpartanNash stock in a transaction on Monday, June 19th. The stock was sold at an average price of $27.69, for a total value of $55,380.00. Following the completion of the sale, the director now directly owns 32,425 shares of the company’s stock, valued at $897,848.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 3.00% of the company’s stock.
Several large investors have recently modified their holdings of SPTN. Ameritas Investment Partners Inc. purchased a new stake in shares of SpartanNash during the first quarter worth $112,000. Huntington National Bank raised its position in SpartanNash by 3.8% in the first quarter. Huntington National Bank now owns 3,254 shares of the company’s stock worth $114,000 after buying an additional 120 shares during the period. Victory Capital Management Inc. raised its position in SpartanNash by 17.7% in the second quarter. Victory Capital Management Inc. now owns 4,689 shares of the company’s stock worth $122,000 after buying an additional 704 shares during the period. Sei Investments Co. bought a new position in SpartanNash during the second quarter worth about $127,000. Finally, State of Alaska Department of Revenue raised its position in SpartanNash by 2.0% in the first quarter. State of Alaska Department of Revenue now owns 4,140 shares of the company’s stock worth $144,000 after buying an additional 80 shares during the period. 87.94% of the stock is owned by institutional investors and hedge funds.
SpartanNash Company Profile
SpartanNash Company is a multi-regional grocery distributor and grocery retailer. The Company’s core businesses include distributing grocery products to independent grocery retailers (independent retailers), select national retailers, its corporate owned retail stores, and the United States military commissaries.
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