Spartan Stores Inc. Plans Quarterly Dividend of $0.09 (SPTN)
Spartan Stores (NASDAQ:SPTN) announced a quarterly dividend on Thursday, October 17th, AnalystRatings.Net reports. Stockholders of record on Friday, November 1st will be paid a dividend of $0.09 per share on Friday, November 15th. This represents a $0.36 annualized dividend and a dividend yield of 1.55%.
A number of analysts have recently weighed in on SPTN shares. Analysts at Deutsche Bank initiated coverage on shares of Spartan Stores in a research note to investors on Wednesday, September 25th. They set a “hold” rating and a $21.00 price target on the stock. On a related note, analysts at Cantor Fitzgerald raised their price target on shares of Spartan Stores from $18.00 to $20.00 in a research note to investors on Friday, August 2nd. They now have a “hold” rating on the stock. Finally, analysts at Zacks downgraded shares of Spartan Stores from an “outperform” rating to a “neutral” rating in a research note to investors on Thursday, August 1st. They now have a $23.30 price target on the stock.
Shares of Spartan Stores (NASDAQ:SPTN) traded up 0.22% during mid-day trading on Thursday, hitting $23.17. 88,659 shares of the company’s stock traded hands. Spartan Stores has a 52-week low of $13.62 and a 52-week high of $24.78. The stock’s 50-day moving average is $21.71 and its 200-day moving average is $19.59. The company has a market cap of $507.4 million and a price-to-earnings ratio of 19.44.
Spartan Stores (NASDAQ:SPTN) last announced its earnings results on Wednesday, July 31st. The company reported $0.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.03. The company had revenue of $612.40 million for the quarter, compared to the consensus estimate of $605.38 million. During the same quarter in the previous year, the company posted $0.28 earnings per share. The company’s revenue for the quarter was up 1.4% on a year-over-year basis. Analysts expect that Spartan Stores will post $1.50 EPS for the current fiscal year.
Spartan Stores, Inc is a regional grocery distributor and grocery retailer, operating principally in Michigan and Indiana.
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