SpartanNash’s (SPTN) “Market Perform” Rating Reaffirmed at BMO Capital Markets

SpartanNash (NASDAQ:SPTN)‘s stock had its “market perform” rating reaffirmed by equities research analysts at BMO Capital Markets in a report released on Tuesday, Marketbeat Ratings reports. They presently have a $26.90 price target on the stock, up from their prior price target of $20.00. BMO Capital Markets’ price target indicates a potential upside of 1.74% from the company’s current price.

Separately, Wall Street Zen lowered shares of SpartanNash from a “buy” rating to a “hold” rating in a report on Friday, May 30th.

SpartanNash Stock Down 0.0%

Shares of NASDAQ:SPTN opened at $26.44 on Tuesday. The stock has a market capitalization of $894.99 million, a P/E ratio of -82.63 and a beta of 0.34. The stock’s 50-day moving average price is $19.48 and its 200-day moving average price is $19.29. The company has a current ratio of 1.66, a quick ratio of 0.86 and a debt-to-equity ratio of 1.03. SpartanNash has a 12-month low of $17.30 and a 12-month high of $26.65.

SpartanNash (NASDAQ:SPTN) last posted its quarterly earnings results on Thursday, May 29th. The company reported $0.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.08). The company had revenue of $2.91 billion for the quarter, compared to the consensus estimate of $2.87 billion. SpartanNash had a positive return on equity of 8.26% and a negative net margin of 0.11%. SpartanNash’s revenue was up 3.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.53 earnings per share. On average, equities analysts anticipate that SpartanNash will post 1.79 earnings per share for the current year.

Hedge Funds Weigh In On SpartanNash

Several hedge funds and other institutional investors have recently modified their holdings of SPTN. Vanguard Group Inc. lifted its holdings in SpartanNash by 1.8% in the fourth quarter. Vanguard Group Inc. now owns 3,250,372 shares of the company’s stock worth $59,547,000 after buying an additional 57,458 shares during the period. Invesco Ltd. lifted its stake in shares of SpartanNash by 25.1% in the 4th quarter. Invesco Ltd. now owns 1,243,507 shares of the company’s stock valued at $22,781,000 after purchasing an additional 249,616 shares during the period. American Century Companies Inc. boosted its position in shares of SpartanNash by 13.0% during the first quarter. American Century Companies Inc. now owns 1,177,857 shares of the company’s stock valued at $23,863,000 after purchasing an additional 135,665 shares in the last quarter. LSV Asset Management grew its stake in SpartanNash by 12.2% in the first quarter. LSV Asset Management now owns 1,096,261 shares of the company’s stock worth $22,210,000 after purchasing an additional 118,863 shares during the period. Finally, Millennium Management LLC raised its holdings in SpartanNash by 837.8% in the first quarter. Millennium Management LLC now owns 515,436 shares of the company’s stock worth $10,443,000 after purchasing an additional 460,474 shares in the last quarter. Hedge funds and other institutional investors own 84.59% of the company’s stock.

SpartanNash Company Profile

SpartanNash Company distributes and retails grocery products in the United States of America. It operates through Wholesale and Retail segments. The Wholesale segment offers grocery products and perishable food products, including 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 pharmaceutical products to independent retailers, national accounts, food service distributors, e-commerce providers, and corporate owned retail stores.