Mason Street Advisors LLC purchased a new position in shares of Spartan Stores Inc. (NASDAQ:SPTN) during the second quarter, Holdings Channel reports. The firm purchased 7,325 shares of the company’s stock, valued at approximately $224,000.
A number of other large investors also recently added to or reduced their stakes in SPTN. Aperio Group LLC bought a new stake in Spartan Stores during the first quarter worth approximately $334,000. TIAA CREF Investment Management LLC raised its stake in shares of Spartan Stores by 2.1% in the first quarter. TIAA CREF Investment Management LLC now owns 210,302 shares of the company’s stock valued at $6,374,000 after buying an additional 4,271 shares in the last quarter. Teachers Advisors Inc. raised its stake in shares of Spartan Stores by 0.9% in the first quarter. Teachers Advisors Inc. now owns 62,171 shares of the company’s stock valued at $1,884,000 after buying an additional 536 shares in the last quarter. Prudential Financial Inc. raised its stake in shares of Spartan Stores by 19.6% in the first quarter. Prudential Financial Inc. now owns 490,637 shares of the company’s stock valued at $14,871,000 after buying an additional 80,500 shares in the last quarter. Finally, BlackRock Group LTD raised its stake in shares of Spartan Stores by 10.2% in the first quarter. BlackRock Group LTD now owns 39,146 shares of the company’s stock valued at $1,187,000 after buying an additional 3,636 shares in the last quarter. 86.54% of the stock is owned by institutional investors and hedge funds.
Spartan Stores Inc. (NASDAQ:SPTN) opened at 28.99 on Wednesday. The company has a market cap of $1.09 billion, a P/E ratio of 18.38 and a beta of 0.87. The stock’s 50 day moving average price is $30.22 and its 200 day moving average price is $29.56. Spartan Stores Inc. has a 1-year low of $17.66 and a 1-year high of $33.89.
Spartan Stores (NASDAQ:SPTN) last posted its earnings results on Wednesday, August 17th. The company reported $0.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.01. The firm earned $1.83 billion during the quarter, compared to analyst estimates of $1.80 billion. Spartan Stores had a net margin of 0.78% and a return on equity of 10.15%. Spartan Stores’s revenue was up 1.8% on a year-over-year basis. During the same period in the previous year, the business posted $0.53 EPS. On average, equities analysts anticipate that Spartan Stores Inc. will post $2.14 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 30th. Investors of record on Friday, September 16th were paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 2.07%. The ex-dividend date of this dividend was Wednesday, September 14th. Spartan Stores’s dividend payout ratio (DPR) is presently 37.97%.
SPTN has been the subject of several research analyst reports. Barclays PLC initiated coverage on Spartan Stores in a research report on Friday, September 23rd. They set an “equal weight” rating and a $31.00 target price for the company. Zacks Investment Research lowered Spartan Stores from a “buy” rating to a “hold” rating in a research report on Tuesday, October 4th. Jefferies Group set a $33.00 target price on Spartan Stores and gave the company a “hold” rating in a research report on Wednesday, July 27th. Deutsche Bank AG set a $28.00 target price on Spartan Stores and gave the company a “hold” rating in a research report on Thursday, August 18th. Finally, Northcoast Research raised Spartan Stores from a “neutral” rating to a “buy” rating in a research report on Tuesday, August 23rd. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $29.80.
In related news, VP David Des Couch sold 14,092 shares of the business’s stock in a transaction dated Monday, August 1st. The stock was sold at an average price of $32.29, for a total value of $455,030.68. Following the completion of the transaction, the vice president now owns 59,270 shares of the company’s stock, valued at $1,913,828.30. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 3.30% of the stock is owned by corporate insiders.
Spartan Stores Company Profile
Spartannash Company, formerly Spartan Stores, Inc, is a multi-regional grocery distributor and grocery retailer, and a distributor of grocery products to military commissaries in the United States. The Company’s core businesses include distributing food to military commissaries and exchanges, and independent and corporate-owned retail stores located in over 40 states and the District of Columbia, Europe, Cuba, Puerto Rico, Bahrain, Egypt, Honduras, Afghanistan and Bosnia.
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