SpartanNash Company (SPTN) Downgraded by BidaskClub
SpartanNash Company (NASDAQ:SPTN) was downgraded by equities researchers at BidaskClub from a “hold” rating to a “sell” rating in a research report issued on Monday.
SPTN has been the topic of a number of other research reports. Zacks Investment Research lowered SpartanNash Company from a “buy” rating to a “hold” rating in a report on Thursday, February 23rd. Pivotal Research lowered their price objective on SpartanNash Company from $40.00 to $35.00 and set a “hold” rating on the stock in a report on Wednesday, May 24th. Jefferies Group LLC set a $35.00 price objective on SpartanNash Company and gave the company a “hold” rating in a report on Wednesday, June 14th. Finally, ValuEngine lowered SpartanNash Company from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $34.00.
SpartanNash Company (NASDAQ SPTN) traded up 1.18% during trading on Monday, reaching $27.52. The company had a trading volume of 151,068 shares. The firm has a 50-day moving average of $33.58 and a 200-day moving average of $35.94. SpartanNash Company has a 1-year low of $26.25 and a 1-year high of $40.38. The stock has a market capitalization of $1.04 billion, a price-to-earnings ratio of 16.72 and a beta of 1.00.
SpartanNash Company (NASDAQ:SPTN) last announced its quarterly earnings data on Wednesday, May 24th. The company reported $0.55 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.54 by $0.01. SpartanNash Company had a return on equity of 10.03% and a net margin of 0.79%. The company had revenue of $2.40 billion for the quarter, compared to analyst estimates of $2.46 billion. During the same quarter in the previous year, the company earned $0.54 EPS. The firm’s revenue for the quarter was up 5.4% compared to the same quarter last year. On average, analysts anticipate that SpartanNash Company will post $2.30 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, June 30th. Stockholders of record on Friday, June 16th will be given a dividend of $0.165 per share. The ex-dividend date of this dividend is Wednesday, June 14th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 2.40%. SpartanNash Company’s payout ratio is 40.00%.
In other news, insider Theodore Adornato sold 22,322 shares of SpartanNash Company stock in a transaction that occurred on Wednesday, April 19th. The shares were sold at an average price of $35.08, for a total transaction of $783,055.76. Following the completion of the sale, the insider now directly owns 65,041 shares in the company, valued at approximately $2,281,638.28. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Timothy J. Odonovan sold 1,186 shares of SpartanNash Company stock in a transaction that occurred on Tuesday, March 21st. The shares were sold at an average price of $33.25, for a total transaction of $39,434.50. Following the sale, the director now owns 44,378 shares of the company’s stock, valued at $1,475,568.50. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 73,002 shares of company stock valued at $2,539,167. Insiders own 3.00% of the company’s stock.
Large investors have recently bought and sold shares of the stock. Ameritas Investment Partners Inc. bought a new stake in SpartanNash Company during the first quarter worth about $112,000. Huntington National Bank increased its stake in SpartanNash Company by 3.8% in the first quarter. Huntington National Bank now owns 3,254 shares of the company’s stock worth $114,000 after buying an additional 120 shares during the last quarter. Victory Capital Management Inc. increased its stake in SpartanNash Company by 55.8% in the first quarter. Victory Capital Management Inc. now owns 3,985 shares of the company’s stock worth $139,000 after buying an additional 1,427 shares during the last quarter. Elkfork Partners LLC bought a new stake in SpartanNash Company during the fourth quarter worth about $141,000. Finally, State of Alaska Department of Revenue increased its stake in SpartanNash Company by 2.0% in the first quarter. State of Alaska Department of Revenue now owns 4,140 shares of the company’s stock worth $144,000 after buying an additional 80 shares during the last quarter. Institutional investors own 88.30% of the company’s stock.
SpartanNash Company Company Profile
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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