BidaskClub Upgrades SpartanNash (NASDAQ:SPTN) to “Sell”

BidaskClub upgraded shares of SpartanNash (NASDAQ:SPTN) from a strong sell rating to a sell rating in a research note published on Saturday, BidAskClub reports.

SPTN has been the topic of several other reports. Loop Capital initiated coverage on shares of SpartanNash in a research report on Tuesday, June 25th. They set a buy rating and a $15.00 price objective on the stock. Pivotal Research raised shares of SpartanNash from a sell rating to a hold rating and cut their price objective for the company from $10.00 to $9.00 in a research report on Thursday, August 15th. Barclays cut their price objective on shares of SpartanNash from $13.00 to $8.00 and set an underweight rating on the stock in a research report on Tuesday, August 13th. ValuEngine raised shares of SpartanNash from a sell rating to a hold rating in a research report on Wednesday, September 11th. Finally, BMO Capital Markets cut shares of SpartanNash from a market perform rating to an underperform rating and lowered their target price for the company from $13.00 to $8.00 in a research note on Friday, August 2nd. Three research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company’s stock. The stock presently has an average rating of Hold and a consensus target price of $13.00.

Shares of SPTN stock opened at $11.99 on Friday. SpartanNash has a one year low of $8.82 and a one year high of $23.00. The company’s 50-day moving average is $10.85 and its 200 day moving average is $13.41. The company has a market capitalization of $435.65 million, a price-to-earnings ratio of 6.41, a price-to-earnings-growth ratio of 1.31 and a beta of 1.39. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.75 and a current ratio of 1.76.

SpartanNash (NASDAQ:SPTN) last announced its quarterly earnings data on Wednesday, August 14th. The company reported $0.34 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.34. SpartanNash had a net margin of 0.05% and a return on equity of 7.07%. The company had revenue of $2 billion for the quarter, compared to the consensus estimate of $2.01 billion. During the same period in the prior year, the firm posted $0.56 EPS. SpartanNash’s revenue for the quarter was up 5.3% on a year-over-year basis. As a group, research analysts predict that SpartanNash will post 1.29 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be paid a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 6.34%. The ex-dividend date is Friday, September 13th. SpartanNash’s dividend payout ratio is currently 40.64%.

Institutional investors and hedge funds have recently bought and sold shares of the business. Advisory Services Network LLC bought a new position in SpartanNash during the 2nd quarter valued at about $35,000. Glen Harbor Capital Management LLC lifted its stake in SpartanNash by 14.3% during the 2nd quarter. Glen Harbor Capital Management LLC now owns 8,736 shares of the company’s stock valued at $102,000 after acquiring an additional 1,092 shares during the period. BNP Paribas Arbitrage SA lifted its stake in SpartanNash by 126.1% during the 1st quarter. BNP Paribas Arbitrage SA now owns 7,540 shares of the company’s stock valued at $120,000 after acquiring an additional 4,205 shares during the period. Elkfork Partners LLC lifted its stake in SpartanNash by 14.3% during the 2nd quarter. Elkfork Partners LLC now owns 10,608 shares of the company’s stock valued at $124,000 after acquiring an additional 1,326 shares during the period. Finally, Bowling Portfolio Management LLC bought a new position in SpartanNash during the 2nd quarter valued at about $135,000. Institutional investors and hedge funds own 83.53% of the company’s stock.

About SpartanNash

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 retailers, national retailers, food service distributors, e-commerce providers, and corporate owned retail stores.

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Analyst Recommendations for SpartanNash (NASDAQ:SPTN)

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