According to Zacks, “SpartanNash Co. is a food distributor serving military commissaries and exchanges 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 44 states and the District of Columbia, Europe, Cuba, Puerto Rico, the Azores, Bahrain and Egypt. It operates supermarkets, primarily under the banners of Family Fare Supermarkets, No Frills, Bag ‘n Save and Econofoods. SpartanNash Co., formerly known as Spartan Stores, Inc., is headquartered in United States. “
Other equities research analysts also recently issued reports about the stock. Northcoast Research raised shares of Spartan Stores from a neutral rating to a buy rating in a research note on Tuesday, August 23rd. Barclays PLC started coverage on shares of Spartan Stores in a research note on Friday, September 23rd. They issued an equal weight rating and a $31.00 target price on the stock. Jefferies Group set a $27.00 target price on shares of Spartan Stores and gave the company a hold rating in a research note on Saturday. Finally, Deutsche Bank AG set a $28.00 target price on shares of Spartan Stores and gave the company a hold rating in a research note on Thursday, August 18th. Five analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Spartan Stores currently has an average rating of Hold and an average price target of $30.20.
Spartan Stores (NASDAQ:SPTN) traded up 0.59% during midday trading on Tuesday, hitting $29.03. 4,963 shares of the stock were exchanged. The company’s 50 day moving average is $30.50 and its 200-day moving average is $29.56. Spartan Stores has a 1-year low of $17.66 and a 1-year high of $33.89. The stock has a market cap of $1.09 billion, a PE ratio of 18.41 and a beta of 0.87.
Spartan Stores (NASDAQ:SPTN) last announced its earnings results on Wednesday, August 17th. The company reported $0.58 earnings per share for the quarter, beating analysts’ consensus estimates of $0.57 by $0.01. The business had revenue of $1.83 billion for the quarter, compared to the consensus estimate of $1.80 billion. Spartan Stores had a net margin of 0.78% and a return on equity of 10.15%. Spartan Stores’s quarterly revenue was up 1.8% on a year-over-year basis. During the same period last year, the firm posted $0.53 earnings per share. On average, analysts expect that Spartan Stores will post $2.14 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 30th. Shareholders of record on Friday, September 16th were paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 2.08%. The ex-dividend date of this dividend was Wednesday, September 14th. Spartan Stores’s dividend payout ratio (DPR) is presently 37.97%.
In other news, VP David Des Couch sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, July 8th. The shares were sold at an average price of $31.00, for a total value of $310,000.00. Following the transaction, the vice president now owns 69,270 shares in the company, valued at $2,147,370. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.30% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Aperio Group LLC purchased a new position in shares of Spartan Stores during the first quarter valued at about $334,000. TIAA CREF Investment Management LLC boosted its position 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. boosted its position 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. boosted its position 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 boosted its stake in 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 during the period. Hedge funds and other 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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