SpartanNash Company (SPTN) Given a $25.00 Price Target at Jefferies Group LLC
SpartanNash Company (NASDAQ:SPTN) has been assigned a $25.00 target price by research analysts at Jefferies Group LLC in a report released on Monday. The brokerage presently has a “hold” rating on the stock. Jefferies Group LLC’s price objective suggests a potential upside of 7.48% from the company’s current price.
Several other research firms have also recently commented on SPTN. Pivotal Research decreased their price target on shares of SpartanNash from $40.00 to $35.00 and set a “hold” rating on the stock in a research note on Wednesday, May 24th. Zacks Investment Research cut shares of SpartanNash from a “hold” rating to a “sell” rating in a research note on Saturday, May 27th. ValuEngine cut shares of SpartanNash from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. BidaskClub raised shares of SpartanNash from a “sell” rating to a “hold” rating in a research note on Tuesday, June 13th. Finally, Barclays PLC reissued an “equal weight” rating and set a $28.00 price target (down from $36.00) on shares of SpartanNash in a research note on Friday, July 14th. Three investment analysts have rated the stock with a sell rating and four have issued a hold rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $28.00.
SpartanNash (SPTN) traded up 0.64% during midday trading on Monday, reaching $23.41. The company’s stock had a trading volume of 129,998 shares. SpartanNash has a 52-week low of $22.90 and a 52-week high of $40.38. The stock has a market capitalization of $872.49 million, a price-to-earnings ratio of 13.43 and a beta of 1.06. The firm has a 50-day moving average price of $25.66 and a 200 day moving average price of $30.63.
SpartanNash (NASDAQ:SPTN) last released its quarterly earnings results on Wednesday, August 16th. The company reported $0.60 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.60. SpartanNash had a net margin of 0.83% and a return on equity of 10.00%. The business had revenue of $1.89 billion for the quarter, compared to analysts’ expectations of $1.96 billion. During the same period in the prior year, the firm earned $0.58 earnings per share. SpartanNash’s revenue was up 3.7% compared to the same quarter last year. Equities research analysts predict that SpartanNash will post $2.23 EPS for the current fiscal year.
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In other SpartanNash news, Director M Shan Atkins sold 2,000 shares of the firm’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 value of $55,380.00. Following the transaction, the director now directly owns 32,425 shares of the company’s stock, valued at $897,848.25. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 3.00% of the stock is currently owned by company insiders.
Hedge funds have recently made changes to their positions in the business. Ameritas Investment Partners Inc. bought a new position in SpartanNash in the first quarter valued at approximately $112,000. Victory Capital Management Inc. boosted its stake in SpartanNash by 17.7% in the second quarter. Victory Capital Management Inc. now owns 4,689 shares of the company’s stock valued at $122,000 after acquiring an additional 704 shares during the last quarter. Sei Investments Co. bought a new position in SpartanNash in the second quarter valued at approximately $127,000. LS Investment Advisors LLC boosted 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 acquiring an additional 3,155 shares during the last quarter. Finally, State of Alaska Department of Revenue boosted its stake in SpartanNash by 80.4% in the second quarter. State of Alaska Department of Revenue now owns 7,468 shares of the company’s stock valued at $193,000 after acquiring an additional 3,328 shares during the last quarter. 88.24% of the stock is currently owned by hedge funds and other institutional investors.
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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