SpartanNash’s (NASDAQ:SPTN) “Hold” Rating Reiterated at Jefferies Group LLC
SpartanNash Company (NASDAQ:SPTN)‘s stock had its “hold” rating restated by Jefferies Group LLC in a research note issued to investors on Friday. They currently have a $30.00 price target on the stock. Jefferies Group LLC’s price target points to a potential upside of 14.33% from the stock’s current price.
Several other brokerages have also commented on SPTN. BidaskClub raised shares of SpartanNash from a “sell” rating to a “hold” rating in a research report on Monday, July 31st. Zacks Investment Research raised shares of SpartanNash from a “sell” rating to a “hold” rating in a research report on Wednesday, April 26th. ValuEngine raised shares of SpartanNash from a “hold” rating to a “buy” rating in a research report on Monday, July 17th. Barclays PLC reaffirmed an “equal weight” rating and set a $28.00 price target (down previously from $36.00) on shares of SpartanNash in a research report on Friday, July 14th. Finally, Pivotal Research dropped their price target on shares of SpartanNash from $40.00 to $35.00 and set a “hold” rating for the company in a research report on Wednesday, May 24th. Two analysts have rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the stock. SpartanNash presently has an average rating of “Hold” and an average target price of $29.40.
SpartanNash (NASDAQ:SPTN) traded up 0.61% during trading on Friday, hitting $26.24. 158,998 shares of the company were exchanged. SpartanNash has a 12 month low of $24.81 and a 12 month high of $40.38. The company has a market capitalization of $993.03 million, a price-to-earnings ratio of 15.94 and a beta of 1.00. The company has a 50-day moving average of $26.51 and a 200-day moving average of $32.62.
SpartanNash (NASDAQ:SPTN) last posted its quarterly earnings data on Wednesday, May 24th. The company reported $0.55 earnings per share for the quarter, beating analysts’ consensus estimates of $0.54 by $0.01. The business had revenue of $2.40 billion during the quarter, compared to analyst estimates of $2.46 billion. SpartanNash had a net margin of 0.79% and a return on equity of 10.03%. The company’s revenue was up 5.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.54 earnings per share. Analysts forecast that SpartanNash will post $2.30 EPS for the current year.
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In related news, Director M Shan Atkins sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, June 19th. The shares were sold at an average price of $27.69, for a total transaction of $55,380.00. Following the completion of the transaction, the director now owns 32,425 shares of the company’s stock, valued at $897,848.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Dennis Eidson sold 6,141 shares of the business’s stock in a transaction that occurred on Monday, May 15th. The stock was sold at an average price of $36.85, for a total transaction of $226,295.85. Following the sale, the chief executive officer now owns 258,610 shares of the company’s stock, valued at $9,529,778.50. The disclosure for this sale can be found here. Insiders have sold 11,936 shares of company stock valued at $407,921 in the last ninety days. 3.00% of the stock is currently owned by company insiders.
A number of large investors have recently added to or reduced their stakes in SPTN. Ameritas Investment Partners Inc. acquired a new stake in SpartanNash during the first quarter valued at about $112,000. Huntington National Bank increased its stake in SpartanNash by 3.8% in the first quarter. Huntington National Bank now owns 3,254 shares of the company’s stock valued at $114,000 after buying an additional 120 shares in the last quarter. Victory Capital Management Inc. increased its stake in SpartanNash by 55.8% in the first quarter. Victory Capital Management Inc. now owns 3,985 shares of the company’s stock valued at $139,000 after buying an additional 1,427 shares in the last quarter. State of Alaska Department of Revenue increased its stake in SpartanNash by 2.0% in the first quarter. State of Alaska Department of Revenue now owns 4,140 shares of the company’s stock valued at $144,000 after buying an additional 80 shares in the last quarter. Finally, LS Investment Advisors LLC increased its stake in SpartanNash by 225.4% in the first quarter. LS Investment Advisors LLC now owns 4,555 shares of the company’s stock valued at $159,000 after buying an additional 3,155 shares in the last quarter. Institutional investors own 87.29% of the company’s stock.
SpartanNash 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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