Spartan Stores Inc. (NASDAQ:SPTN) – Stock analysts at Jefferies Group dropped their Q3 2016 earnings estimates for Spartan Stores in a research note issued on Friday. Jefferies Group analyst M. Wiltamuth now expects that the firm will post earnings per share of $0.52 for the quarter, down from their prior forecast of $0.53. Jefferies Group currently has a “Hold” rating and a $27.00 target price on the stock. Jefferies Group also issued estimates for Spartan Stores’ FY2016 earnings at $2.14 EPS, Q1 2017 earnings at $0.57 EPS, Q2 2017 earnings at $0.61 EPS, Q3 2017 earnings at $0.55 EPS, Q4 2017 earnings at $0.53 EPS, FY2017 earnings at $2.26 EPS, FY2018 earnings at $2.39 EPS, FY2019 earnings at $2.53 EPS and FY2020 earnings at $2.53 EPS.
SPTN has been the subject of a number of other research reports. Northcoast Research upgraded Spartan Stores from a “neutral” rating to a “buy” rating in a research report on Tuesday, August 23rd. Zacks Investment Research downgraded Spartan Stores from a “buy” rating to a “hold” rating in a research report on Wednesday, August 3rd. Barclays PLC assumed coverage on Spartan Stores in a research report on Friday, September 23rd. They set an “equal weight” rating and a $31.00 price objective for the company. Finally, Deutsche Bank AG set a $28.00 price objective on Spartan Stores and gave the company a “hold” rating in a research report on Thursday, August 18th. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company. Spartan Stores currently has a consensus rating of “Hold” and an average target price of $30.20.
Shares of Spartan Stores (NASDAQ:SPTN) opened at 28.62 on Monday. The stock has a market cap of $1.07 billion, a P/E ratio of 18.15 and a beta of 0.87. The firm’s 50-day moving average price is $30.55 and its 200-day moving average price is $29.56. Spartan Stores has a 52-week low of $17.66 and a 52-week high of $33.89.
Spartan Stores (NASDAQ:SPTN) last posted its quarterly earnings results on Wednesday, August 17th. The company reported $0.58 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.57 by $0.01. Spartan Stores had a return on equity of 10.15% and a net margin of 0.78%. The firm earned $1.83 billion during the quarter, compared to the consensus estimate of $1.80 billion. During the same quarter in the previous year, the business earned $0.53 earnings per share. The firm’s quarterly revenue was up 1.8% compared to the same quarter last year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 30th. Stockholders of record on Friday, September 16th were issued a $0.15 dividend. The ex-dividend date was Wednesday, September 14th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.10%. Spartan Stores’s payout ratio is currently 37.97%.
In other news, VP David Des Couch sold 14,092 shares of the stock in a transaction on 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 sale, the vice president now owns 59,270 shares in the company, valued at $1,913,828.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 3.30% of the stock is owned by insiders.
Several hedge funds have recently added to or reduced their stakes in SPTN. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Spartan Stores by 293.8% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,351 shares of the company’s stock worth $102,000 after buying an additional 2,500 shares during the period. PineBridge Investments L.P. increased its position in Spartan Stores by 4.3% in the second quarter. PineBridge Investments L.P. now owns 4,753 shares of the company’s stock worth $145,000 after buying an additional 197 shares during the period. Acrospire Investment Management LLC increased its position in Spartan Stores by 62.4% in the second quarter. Acrospire Investment Management LLC now owns 4,944 shares of the company’s stock worth $151,000 after buying an additional 1,900 shares during the period. Teacher Retirement System of Texas increased its position in Spartan Stores by 11.4% in the second quarter. Teacher Retirement System of Texas now owns 5,155 shares of the company’s stock worth $158,000 after buying an additional 527 shares during the period. Finally, Public Employees Retirement System of Ohio increased its position in Spartan Stores by 13.9% in the second quarter. Public Employees Retirement System of Ohio now owns 5,993 shares of the company’s stock worth $183,000 after buying an additional 732 shares during the period. Institutional investors own 86.54% of the company’s stock.
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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