State Board of Administration of Florida Retirement System raised its stake in shares of Spartan Stores Inc. (NASDAQ:SPTN) by 0.2% during the second quarter, Holdings Channel reports. The fund owned 33,425 shares of the company’s stock after buying an additional 81 shares during the period. State Board of Administration of Florida Retirement System owned about 0.09% of Spartan Stores worth $1,022,000 at the end of the most recent quarter.
Other hedge funds have also bought and sold shares of the company. 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 in the last quarter. Squarepoint Ops LLC purchased a new position in Spartan Stores during the first quarter worth about $207,000. Springbok Capital Management LLC increased its position in Spartan Stores by 73.5% in the first quarter. Springbok Capital Management LLC now owns 7,980 shares of the company’s stock worth $242,000 after buying an additional 3,380 shares in the last quarter. Legal & General Group Plc increased its position in Spartan Stores by 7.6% in the first quarter. Legal & General Group Plc now owns 9,023 shares of the company’s stock worth $271,000 after buying an additional 638 shares in the last quarter. Finally, Suntrust Banks Inc. increased its position in Spartan Stores by 3.4% in the second quarter. Suntrust Banks Inc. now owns 10,356 shares of the company’s stock worth $315,000 after buying an additional 336 shares in the last quarter. 86.54% of the stock is owned by institutional investors and hedge funds.
Spartan Stores Inc. (NASDAQ:SPTN) traded down 1.91% during midday trading on Friday, hitting $28.81. The stock had a trading volume of 148,642 shares. The firm has a market cap of $1.08 billion, a price-to-earnings ratio of 18.27 and a beta of 0.84. The firm has a 50 day moving average of $30.99 and a 200 day moving average of $29.56. Spartan Stores Inc. 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 data on Wednesday, August 17th. The company reported $0.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.01. The business earned $1.83 billion during the quarter, compared to the consensus estimate of $1.80 billion. Spartan Stores had a return on equity of 10.15% and a net margin of 0.78%. The firm’s quarterly revenue was up 1.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.53 earnings per share. Equities research analysts predict that Spartan Stores Inc. will post $2.15 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 30th. Shareholders of record on Friday, September 16th will be issued a $0.15 dividend. The ex-dividend date of this dividend is Wednesday, September 14th. This represents a $0.60 dividend on an annualized basis and a yield of 2.08%. Spartan Stores’s dividend payout ratio (DPR) is 37.97%.
A number of research firms have issued reports on SPTN. Zacks Investment Research downgraded shares of Spartan Stores from a “buy” rating to a “hold” rating in a report on Wednesday, August 3rd. Northcoast Research raised shares of Spartan Stores from a “neutral” rating to a “buy” rating in a report on Tuesday, August 23rd. Barclays PLC began coverage on shares of Spartan Stores in a report on Friday. They set an “equal weight” rating and a $31.00 price objective on the stock. Deutsche Bank AG set a $28.00 price objective on shares of Spartan Stores and gave the stock a “hold” rating in a report on Thursday, August 18th. Finally, Jefferies Group reaffirmed a “hold” rating on shares of Spartan Stores in a report on Sunday, May 29th. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $31.40.
In other Spartan Stores 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 transaction, 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 SEC, which is available through the SEC website. 3.30% of the stock is owned by company 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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