Spartan Stores Inc. (SPTN) Announces Quarterly Dividend of $0.12
Spartan Stores (NASDAQ:SPTN) declared a quarterly dividend on Thursday, June 5th, American Banking News.com reports. Investors of record on Monday, June 16th will be given a dividend of 0.12 per share on Monday, June 30th. This represents a $0.48 dividend on an annualized basis and a yield of 2.12%.
Several analysts have recently commented on the stock. Analysts at Zacks downgraded shares of Spartan Stores from an “outperform” rating to a “neutral” rating in a research note on Tuesday, May 27th. They now have a $25.70 price target on the stock. On the ratings front, analysts at Cantor Fitzgerald upgraded shares of Spartan Stores from a “hold” rating to a “buy” rating in a research note on Thursday, May 22nd. They now have a $25.00 price target on the stock, up previously from $20.00.
Shares of Spartan Stores (NASDAQ:SPTN) traded up 2.31% on Thursday, hitting $22.62. The stock had a trading volume of 171,231 shares. Spartan Stores has a one year low of $17.72 and a one year high of $25.74. The stock has a 50-day moving average of $22.26 and a 200-day moving average of $22.78. The company has a market cap of $853.2 million and a P/E ratio of 136.48.
Spartan Stores (NASDAQ:SPTN) last announced its earnings results on Wednesday, May 21st. The company reported $0.40 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.38 by $0.02. The company had revenue of $2.33 billion for the quarter, compared to the consensus estimate of $2.31 billion. During the same quarter last year, the company posted $0.48 earnings per share. The company’s quarterly revenue was up 198.9% on a year-over-year basis. Analysts expect that Spartan Stores will post $1.75 EPS for the current fiscal year.
In other Spartan Stores news, Insider David Des Couch sold 10,000 shares of the company’s stock on the open market in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $24.18, for a total transaction of $241,800.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
Spartan Stores, Inc is a regional grocery distributor and grocery retailer, operating principally in Michigan and Indiana.
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