An issue of Supervalu Inc. (NYSE:SVU) debt fell 2.4% against its face value during trading on Wednesday. The high-yield issue of debt has a 6.75% coupon and will mature on June 1, 2021. The debt is now trading at $98.13 and was trading at $100.38 last week. Price changes in a company’s debt in credit markets often predict parallel changes in its share price.
SVU has been the subject of several recent research reports. ValuEngine upgraded shares of Supervalu from a “hold” rating to a “buy” rating in a report on Thursday, December 7th. Pivotal Research set a $39.00 target price on shares of Supervalu and gave the company a “buy” rating in a report on Tuesday, October 17th. Morgan Stanley dropped their target price on shares of Supervalu from $22.50 to $20.50 and set an “equal weight” rating for the company in a report on Thursday, October 19th. Royal Bank of Canada restated an “outperform” rating and set a $35.00 target price on shares of Supervalu in a report on Thursday, October 19th. Finally, Northcoast Research restated a “neutral” rating on shares of Supervalu in a report on Thursday, October 19th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company’s stock. Supervalu has a consensus rating of “Hold” and an average price target of $26.50.
Shares of Supervalu Inc. (NYSE:SVU) opened at $16.94 on Thursday. The company has a market cap of $650.64, a PE ratio of -30.25 and a beta of 2.29. Supervalu Inc. has a twelve month low of $14.55 and a twelve month high of $32.41. The company has a current ratio of 1.21, a quick ratio of 0.57 and a debt-to-equity ratio of 4.76.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Public Employees Retirement System of Ohio acquired a new stake in shares of Supervalu in the third quarter worth approximately $147,000. Crossmark Global Holdings Inc. acquired a new stake in shares of Supervalu in the third quarter worth approximately $252,000. Nine Chapters Capital Management LLC boosted its position in shares of Supervalu by 75.7% in the third quarter. Nine Chapters Capital Management LLC now owns 18,100 shares of the company’s stock worth $394,000 after acquiring an additional 7,800 shares during the last quarter. Lenox Wealth Management Inc. acquired a new stake in shares of Supervalu in the third quarter worth approximately $486,000. Finally, Cambridge Investment Research Advisors Inc. acquired a new stake in shares of Supervalu in the third quarter worth approximately $537,000. 80.63% of the stock is currently owned by institutional investors and hedge funds.
Supervalu Company Profile
Supervalu Inc is a wholesale distributor to independent retail customers across the United States. The Company’s segments include Wholesale and Retail. The Company offers a range of advertised brand name and private-label products, including grocery (both perishable and nonperishable), general merchandise and home, health and beauty care, and pharmacy, which are sold through Company-operated and licensed Retail stores to shoppers and through its Wholesale segment to independent retail customers.
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