SpartanNash (NASDAQ:SPTN) Issues FY 2022 Earnings Guidance

SpartanNash (NASDAQ:SPTNGet Rating) updated its FY 2022 earnings guidance on Thursday. The company provided EPS guidance of $2.17-$2.32 for the period, compared to the consensus EPS estimate of $2.11. The company issued revenue guidance of $9.00 billion-$9.30 billion, compared to the consensus revenue estimate of $9.03 billion.

Several brokerages have recently weighed in on SPTN. StockNews.com upgraded SpartanNash from a hold rating to a buy rating in a report on Sunday. CL King started coverage on SpartanNash in a report on Monday, March 21st. They set a buy rating for the company. BMO Capital Markets increased their price objective on SpartanNash from $24.00 to $29.00 in a research report on Tuesday, June 7th. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on SpartanNash from $25.00 to $26.00 in a research report on Friday, June 3rd.

SpartanNash stock opened at $29.80 on Thursday. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.56 and a quick ratio of 0.72. SpartanNash has a one year low of $18.08 and a one year high of $37.48. The stock has a market capitalization of $1.08 billion, a PE ratio of 14.61 and a beta of 0.64. The business’s fifty day moving average is $33.38 and its 200 day moving average is $29.95.

SpartanNash (NASDAQ:SPTNGet Rating) last announced its earnings results on Thursday, June 2nd. The company reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.19. The business had revenue of $2.76 billion for the quarter, compared to analysts’ expectations of $2.77 billion. SpartanNash had a return on equity of 9.21% and a net margin of 0.81%. The business’s revenue for the quarter was up 4.0% on a year-over-year basis. During the same period last year, the firm posted $0.56 earnings per share. As a group, sell-side analysts expect that SpartanNash will post 2.26 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 30th. Shareholders of record on Wednesday, June 15th will be given a $0.21 dividend. The ex-dividend date of this dividend is Tuesday, June 14th. This represents a $0.84 annualized dividend and a yield of 2.82%. SpartanNash’s payout ratio is 41.18%.

In other SpartanNash news, Director Matthew Mannelly sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, June 14th. The stock was sold at an average price of $31.06, for a total value of $310,600.00. Following the transaction, the director now directly owns 20,354 shares of the company’s stock, valued at $632,195.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.80% of the company’s stock.

Several hedge funds have recently bought and sold shares of SPTN. US Bancorp DE raised its stake in SpartanNash by 10.7% during the 1st quarter. US Bancorp DE now owns 5,275 shares of the company’s stock valued at $174,000 after purchasing an additional 508 shares during the period. Citigroup Inc. increased its stake in SpartanNash by 2.5% in the 1st quarter. Citigroup Inc. now owns 35,322 shares of the company’s stock worth $1,165,000 after acquiring an additional 853 shares during the last quarter. Bank of Montreal Can increased its stake in SpartanNash by 4.2% in the 1st quarter. Bank of Montreal Can now owns 31,961 shares of the company’s stock worth $1,096,000 after acquiring an additional 1,278 shares during the last quarter. Captrust Financial Advisors increased its position in shares of SpartanNash by 26.4% during the 1st quarter. Captrust Financial Advisors now owns 6,465 shares of the company’s stock valued at $213,000 after purchasing an additional 1,351 shares during the last quarter. Finally, UBS Group AG increased its position in shares of SpartanNash by 7.6% during the 1st quarter. UBS Group AG now owns 23,986 shares of the company’s stock valued at $791,000 after purchasing an additional 1,702 shares during the last quarter. 79.36% of the stock is currently owned by hedge funds and other institutional investors.

About SpartanNash (Get Rating)

SpartanNash Company distributes and retails grocery products. It operates in three segments: Food Distribution, Military, and Retail. The Food Distribution segment offers approximately 65,000 stock-keeping units, such as dry groceries, produce, dairy products, meat, delicatessen items, bakery goods, frozen food, seafood, floral products, general merchandise, beverages, tobacco products, health and beauty care, and pharmacy products to independent retailers, national retailers, food service distributors, e-commerce providers, and corporate owned retail stores.

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Earnings History and Estimates for SpartanNash (NASDAQ:SPTN)

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