SpartanNash (SPTN) Stock Rating Upgraded by BidaskClub

BidaskClub upgraded shares of SpartanNash (NASDAQ:SPTN) from a sell rating to a hold rating in a report published on Saturday morning.

Other equities analysts also recently issued reports about the company. TheStreet downgraded SpartanNash from a b- rating to a c- rating in a report on Wednesday, November 8th. Barclays reduced their price target on SpartanNash from $28.00 to $22.00 and set an equal weight rating for the company in a report on Friday, November 10th. Jefferies Group restated a hold rating and set a $30.00 price target on shares of SpartanNash in a report on Friday, August 11th. Deutsche Bank reduced their price target on SpartanNash from $40.00 to $26.00 and set a hold rating for the company in a report on Friday, August 18th. Finally, ValuEngine downgraded SpartanNash from a buy rating to a hold rating in a report on Friday, September 1st. Two analysts have rated the stock with a sell rating and six have assigned a hold rating to the company. The company presently has a consensus rating of Hold and a consensus target price of $23.20.

SpartanNash (NASDAQ:SPTN) opened at $26.32 on Friday. SpartanNash has a twelve month low of $18.56 and a twelve month high of $40.38. The company has a current ratio of 1.81, a quick ratio of 0.74 and a debt-to-equity ratio of 0.92. The firm has a market capitalization of $937.60, a price-to-earnings ratio of 11.42, a PEG ratio of 4.01 and a beta of 1.02.

SpartanNash (NASDAQ:SPTN) last issued its quarterly earnings results on Wednesday, November 8th. The company reported $0.54 earnings per share for the quarter, meeting the consensus estimate of $0.54. SpartanNash had a positive return on equity of 10.35% and a negative net margin of 0.93%. The firm had revenue of $1.91 billion during the quarter, compared to the consensus estimate of $1.90 billion. During the same period last year, the company earned $0.53 earnings per share. The company’s revenue was up 6.1% on a year-over-year basis. sell-side analysts anticipate that SpartanNash will post 2.11 EPS for the current fiscal year.

SpartanNash announced that its board has approved a stock repurchase program on Thursday, November 16th that allows the company to repurchase $50.00 million in shares. This repurchase authorization allows the company to purchase shares of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board believes its shares are undervalued.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Friday, December 8th will be issued a $0.165 dividend. The ex-dividend date of this dividend is Thursday, December 7th. This represents a $0.66 annualized dividend and a yield of 2.51%. SpartanNash’s payout ratio is -32.67%.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its holdings in SpartanNash by 8.4% in the 2nd quarter. Vanguard Group Inc. now owns 2,757,235 shares of the company’s stock worth $71,578,000 after buying an additional 212,923 shares in the last quarter. State Street Corp increased its holdings in SpartanNash by 5.6% in the 2nd quarter. State Street Corp now owns 1,065,210 shares of the company’s stock worth $27,654,000 after buying an additional 56,359 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in SpartanNash by 3.2% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,032,110 shares of the company’s stock worth $27,217,000 after buying an additional 31,792 shares in the last quarter. Northern Trust Corp increased its holdings in SpartanNash by 10.0% in the 2nd quarter. Northern Trust Corp now owns 797,462 shares of the company’s stock worth $20,702,000 after buying an additional 72,318 shares in the last quarter. Finally, Janus Henderson Group PLC bought a new stake in SpartanNash in the 3rd quarter worth about $20,161,000. Institutional investors own 86.09% of the company’s stock.

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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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