Analysts Anticipate SpartanNash Company (SPTN) to Post $0.60 Earnings Per Share
Equities research analysts predict that SpartanNash Company (NASDAQ:SPTN) will announce earnings per share (EPS) of $0.60 for the current fiscal quarter, according to Zacks Investment Research. Two analysts have issued estimates for SpartanNash Company’s earnings, with the highest EPS estimate coming in at $0.62 and the lowest estimate coming in at $0.59. SpartanNash Company reported earnings per share of $0.58 during the same quarter last year, which would suggest a positive year-over-year growth rate of 3.4%. The company is scheduled to report its next earnings results on Wednesday, August 16th.
According to Zacks, analysts expect that SpartanNash Company will report full-year earnings of $2.33 per share for the current fiscal year, with EPS estimates ranging from $2.30 to $2.38. For the next year, analysts expect that the business will report earnings of $2.47 per share, with EPS estimates ranging from $2.39 to $2.58. Zacks’ earnings per share averages are a mean average based on a survey of research firms that that provide coverage for SpartanNash Company.
SpartanNash Company (NASDAQ:SPTN) last released its quarterly earnings results on Wednesday, May 24th. The company reported $0.55 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.54 by $0.01. SpartanNash Company had a net margin of 0.79% and a return on equity of 10.03%. The company had revenue of $2.40 billion for the quarter, compared to analysts’ expectations of $2.46 billion. During the same period last 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.
A number of equities analysts recently weighed in on the company. ValuEngine cut SpartanNash Company from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. BidaskClub cut SpartanNash Company from a “hold” rating to a “sell” rating in a research note on Monday, June 19th. Pivotal Research cut SpartanNash Company from a “hold” rating to a “sell” rating and dropped their price target for the stock from $35.00 to $20.00 in a research note on Monday, June 26th. Jefferies Group LLC reaffirmed a “hold” rating and set a $30.00 target price (down previously from $35.00) on shares of SpartanNash Company in a research note on Friday, June 23rd. Finally, Zacks Investment Research raised SpartanNash Company from a “sell” rating to a “hold” rating in a research note on Wednesday, April 26th. Three research analysts have rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the stock. SpartanNash Company presently has a consensus rating of “Hold” and an average target price of $30.00.
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In other SpartanNash Company news, insider Theodore Adornato sold 1,182 shares of SpartanNash Company stock in a transaction dated Monday, May 15th. The stock was sold at an average price of $36.86, for a total transaction of $43,568.52. Following the transaction, the insider now owns 51,256 shares of the company’s stock, valued at approximately $1,889,296.16. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Dennis Eidson sold 6,201 shares of SpartanNash Company stock in a transaction dated Monday, April 17th. The shares were sold at an average price of $34.94, for a total value of $216,662.94. Following the transaction, the chief executive officer now directly owns 270,111 shares in the company, valued at approximately $9,437,678.34. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 48,407 shares of company stock worth $1,686,020. Company insiders own 3.00% of the company’s stock.
Several large investors have recently made changes to their positions in the stock. BlackRock Inc. raised its stake in shares of SpartanNash Company by 21,712.5% in the first quarter. BlackRock Inc. now owns 4,785,883 shares of the company’s stock valued at $167,458,000 after buying an additional 4,763,942 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of SpartanNash Company by 10.0% in the first quarter. Vanguard Group Inc. now owns 2,544,312 shares of the company’s stock valued at $89,025,000 after buying an additional 230,533 shares in the last quarter. State Street Corp raised its stake in shares of SpartanNash Company by 8.7% in the first quarter. State Street Corp now owns 1,008,851 shares of the company’s stock valued at $35,297,000 after buying an additional 80,515 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in shares of SpartanNash Company by 59.9% in the first quarter. Goldman Sachs Group Inc. now owns 719,700 shares of the company’s stock valued at $25,182,000 after buying an additional 269,686 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its stake in shares of SpartanNash Company by 5.0% in the first quarter. Bank of New York Mellon Corp now owns 582,553 shares of the company’s stock valued at $20,384,000 after buying an additional 27,757 shares in the last quarter. Institutional investors and hedge funds own 88.30% of the company’s stock.
Shares of SpartanNash Company (NASDAQ SPTN) traded up 0.31% on Tuesday, hitting $26.03. 225,112 shares of the stock traded hands. The stock has a market cap of $985.08 million, a price-to-earnings ratio of 15.81 and a beta of 0.99. The company’s 50 day moving average is $30.84 and its 200 day moving average is $35.21. SpartanNash Company has a one year low of $24.81 and a one year high of $40.38.
The firm also recently announced a quarterly dividend, which was paid on Friday, June 30th. Shareholders of record on Friday, June 16th were paid a dividend of $0.165 per share. The ex-dividend date was Wednesday, June 14th. This represents a $0.66 annualized dividend and a yield of 2.54%. SpartanNash Company’s dividend payout ratio (DPR) is presently 40.00%.
About SpartanNash Company
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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