Swiss National Bank boosted its stake in shares of Spartan Stores Inc. (NASDAQ:SPTN) by 1.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 61,880 shares of the company’s stock after buying an additional 1,100 shares during the period. Swiss National Bank owned approximately 0.17% of Spartan Stores worth $1,892,000 at the end of the most recent reporting period.
Other institutional investors have also recently bought and sold shares of the company. BlackRock Fund Advisors increased its position in Spartan Stores by 0.5% in the first quarter. BlackRock Fund Advisors now owns 2,345,868 shares of the company’s stock valued at $71,103,000 after buying an additional 11,316 shares during the last quarter. TIAA CREF Investment Management LLC increased its position in 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 during the last quarter. BNP Paribas Arbitrage SA increased its position in Spartan Stores by 99.4% in the second quarter. BNP Paribas Arbitrage SA now owns 12,920 shares of the company’s stock valued at $395,000 after buying an additional 6,440 shares during the last quarter. Norges Bank purchased a new position in Spartan Stores during the fourth quarter valued at approximately $11,787,000. Finally, NN Investment Partners Holdings N.V. purchased a new position in Spartan Stores during the first quarter valued at approximately $1,364,000. 86.54% of the stock is currently owned by institutional investors.
Spartan Stores Inc. (NASDAQ:SPTN) traded up 0.62% during midday trading on Thursday, reaching $29.37. The company’s stock had a trading volume of 266,094 shares. Spartan Stores Inc. has a 12 month low of $17.66 and a 12 month high of $33.89. The stock has a 50-day moving average price of $31.06 and a 200 day moving average price of $29.56. The company has a market cap of $1.10 billion, a PE ratio of 18.62 and a beta of 0.84.
Spartan Stores (NASDAQ:SPTN) last posted its quarterly earnings results on Wednesday, August 17th. The company reported $0.58 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.01. The company had revenue of $1.83 billion for the quarter, compared to analysts’ expectations 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 quarter in the previous year, the firm posted $0.53 EPS. Analysts expect that Spartan Stores Inc. will post $2.15 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 30th. Investors of record on Friday, September 16th will be issued a $0.15 dividend. The ex-dividend date is Wednesday, September 14th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.04%. Spartan Stores’s dividend payout ratio (DPR) is presently 37.97%.
Several brokerages recently issued reports on SPTN. Jefferies Group set a $33.00 price target on Spartan Stores and gave the company a “hold” rating in a research note on Wednesday, July 27th. Zacks Investment Research upgraded Spartan Stores from a “hold” rating to a “buy” rating and set a $31.00 price target for the company in a research note on Saturday, May 28th. Deutsche Bank AG set a $28.00 price target on Spartan Stores and gave the company a “hold” rating in a research note on Thursday, August 18th. Finally, Northcoast Research upgraded Spartan Stores from a “neutral” rating to a “buy” rating in a research note on Tuesday, August 23rd. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $31.50.
In related news, VP David Des Couch sold 14,092 shares of Spartan Stores stock in a transaction that occurred on Monday, August 1st. The shares were 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 directly owns 59,270 shares in the company, valued at approximately $1,913,828.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 3.30% of the stock is currently 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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