SpartanNash Co (NASDAQ:SPTN) has been given a consensus recommendation of “Hold” by the ten analysts that are currently covering the company, MarketBeat reports. Two research analysts have rated the stock with a sell rating and seven have given a hold rating to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $23.20.
A number of research firms have weighed in on SPTN. ValuEngine cut SpartanNash from a “buy” rating to a “hold” rating in a research report on Sunday, December 31st. Northcoast Research cut SpartanNash from a “buy” rating to a “neutral” rating in a research report on Friday. BidaskClub raised SpartanNash from a “sell” rating to a “hold” rating in a research report on Saturday, December 2nd. Jefferies Group reaffirmed a “hold” rating and set a $25.00 price objective on shares of SpartanNash in a research report on Monday, October 16th. Finally, Pivotal Research reaffirmed a “sell” rating and set a $18.00 price objective on shares of SpartanNash in a research report on Wednesday, November 8th.
Several hedge funds have recently modified their holdings of SPTN. Sei Investments Co. purchased a new position in shares of SpartanNash during the 2nd quarter worth approximately $127,000. Schwab Charles Investment Management Inc. increased its stake in SpartanNash by 10.5% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 411,713 shares of the company’s stock valued at $10,689,000 after purchasing an additional 39,082 shares in the last quarter. Bank of New York Mellon Corp increased its stake in SpartanNash by 71.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,000,318 shares of the company’s stock valued at $25,968,000 after purchasing an additional 417,765 shares in the last quarter. Legal & General Group Plc increased its stake in SpartanNash by 6.9% in the 2nd quarter. Legal & General Group Plc now owns 102,064 shares of the company’s stock valued at $2,650,000 after purchasing an additional 6,599 shares in the last quarter. Finally, BNP Paribas Arbitrage SA increased its stake in SpartanNash by 40.4% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 16,641 shares of the company’s stock valued at $432,000 after purchasing an additional 4,789 shares in the last quarter. 86.05% of the stock is owned by institutional investors and hedge funds.
SpartanNash (NASDAQ:SPTN) last announced its earnings results on Wednesday, November 8th. The company reported $0.54 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates 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 analysts’ expectations of $1.90 billion. During the same period in the prior year, the firm earned $0.53 EPS. The business’s revenue was up 6.1% on a year-over-year basis. research analysts forecast that SpartanNash will post 2.11 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, December 29th. Stockholders of record on Friday, December 8th were paid a dividend of $0.165 per share. This represents a $0.66 dividend on an annualized basis and a dividend yield of 2.64%. The ex-dividend date was Thursday, December 7th. SpartanNash’s dividend payout ratio (DPR) is -32.84%.
SpartanNash declared that its Board of Directors has initiated a share repurchase program on Thursday, November 16th that allows the company to buyback $50.00 million in shares. This buyback authorization allows the company to repurchase shares of its stock through open market purchases. Shares buyback programs are often an indication that the company’s management believes its stock is undervalued.
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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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