Fondren Management LP purchased a new stake in Supervalu Inc. (NYSE:SVU) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 95,000 shares of the company’s stock, valued at approximately $2,052,000. Supervalu accounts for approximately 1.4% of Fondren Management LP’s investment portfolio, making the stock its 14th biggest position. Fondren Management LP owned about 0.25% of Supervalu at the end of the most recent reporting period.
Several other large investors also recently added to or reduced their stakes in the company. Boston Partners acquired a new position in shares of Supervalu during the 3rd quarter worth $7,848,000. Greenwich Wealth Management LLC raised its holdings in shares of Supervalu by 109.4% during the 4th quarter. Greenwich Wealth Management LLC now owns 39,265 shares of the company’s stock worth $848,000 after buying an additional 20,513 shares in the last quarter. Schwab Charles Investment Management Inc. raised its holdings in shares of Supervalu by 22.9% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 449,754 shares of the company’s stock worth $9,715,000 after buying an additional 83,853 shares in the last quarter. LSV Asset Management raised its holdings in shares of Supervalu by 3.4% during the 4th quarter. LSV Asset Management now owns 1,845,995 shares of the company’s stock worth $39,873,000 after buying an additional 60,104 shares in the last quarter. Finally, Private Management Group Inc. acquired a new position in shares of Supervalu during the 4th quarter worth $11,897,000. Hedge funds and other institutional investors own 95.83% of the company’s stock.
A number of research firms have recently commented on SVU. Goldman Sachs Group reissued a “sell” rating and set a $14.00 price target on shares of Supervalu in a report on Tuesday, November 14th. Royal Bank of Canada set a $34.00 price target on Supervalu and gave the stock a “buy” rating in a report on Thursday, January 11th. Zacks Investment Research cut Supervalu from a “hold” rating to a “sell” rating in a report on Thursday, January 11th. ValuEngine cut Supervalu from a “buy” rating to a “hold” rating in a report on Friday, February 2nd. Finally, Telsey Advisory Group reaffirmed a “market perform” rating and issued a $18.00 target price (down previously from $24.00) on shares of Supervalu in a report on Thursday, January 11th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $23.44.
Supervalu (NYSE:SVU) last issued its quarterly earnings results on Wednesday, January 10th. The company reported $0.61 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.13. The company had revenue of $3.94 billion during the quarter, compared to analysts’ expectations of $4 billion. Supervalu had a return on equity of 26.48% and a net margin of 4.17%. The business’s quarterly revenue was up 31.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.35 earnings per share. sell-side analysts expect that Supervalu Inc. will post 2.43 EPS for the current year.
TRADEMARK VIOLATION NOTICE: This report was originally published by American Banking News and is the sole property of of American Banking News. If you are accessing this report on another publication, it was stolen and republished in violation of United States & international copyright & trademark laws. The original version of this report can be viewed at https://www.americanbankingnews.com/2018/03/14/95000-shares-in-supervalu-inc-svu-acquired-by-fondren-management-lp.html.
Supervalu Company Profile
Supervalu Inc is a wholesale distributor to independent retail customers across the United States. The Company’s segments include Wholesale and Retail. The Company offers a range of advertised brand name and private-label products, including grocery (both perishable and nonperishable), general merchandise and home, health and beauty care, and pharmacy, which are sold through Company-operated and licensed Retail stores to shoppers and through its Wholesale segment to independent retail customers.
Want to see what other hedge funds are holding SVU? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Supervalu Inc. (NYSE:SVU).
Receive News & Ratings for Supervalu Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Supervalu and related companies with MarketBeat.com's FREE daily email newsletter.