SpartanNash Co (NASDAQ:SPTN) Director Frank Gambino sold 3,686 shares of the firm’s stock in a transaction dated Friday, March 24th. The shares were sold at an average price of $33.54, for a total value of $123,628.44. Following the completion of the transaction, the director now owns 34,869 shares of the company’s stock, valued at approximately $1,169,506.26. The sale was disclosed in a document filed with the SEC, which is available through this link.
Shares of SpartanNash Co (NASDAQ:SPTN) traded down 0.12% during midday trading on Monday, reaching $33.72. 121,053 shares of the company traded hands. The firm has a market capitalization of $1.27 billion, a PE ratio of 22.27 and a beta of 1.04. The company has a 50-day moving average of $35.47 and a 200 day moving average of $34.36. SpartanNash Co has a 12-month low of $25.29 and a 12-month high of $40.38.
SpartanNash (NASDAQ:SPTN) last released its earnings results on Wednesday, February 22nd. The company reported $0.53 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.48 by $0.05. The firm had revenue of $1.83 billion for the quarter, compared to analysts’ expectations of $1.84 billion. SpartanNash had a net margin of 0.79% and a return on equity of 10.21%. The company’s quarterly revenue was up 3.4% on a year-over-year basis. During the same period in the previous year, the company earned $0.52 earnings per share. On average, equities analysts forecast that SpartanNash Co will post $2.32 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, March 31st. Shareholders of record on Monday, March 20th will be paid a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a yield of 1.95%. This is a boost from SpartanNash’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend is Thursday, March 16th. SpartanNash’s payout ratio is presently 37.27%.
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Several equities analysts have recently weighed in on SPTN shares. Zacks Investment Research upgraded SpartanNash from a “hold” rating to a “buy” rating and set a $41.00 price objective for the company in a report on Thursday, December 1st. Pivotal Research raised their price objective on SpartanNash from $30.00 to $40.00 and gave the company a “hold” rating in a report on Tuesday, January 17th. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $33.40.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Municipal Employees Retirement System of Michigan boosted its position in SpartanNash by 0.5% in the third quarter. Municipal Employees Retirement System of Michigan now owns 31,190 shares of the company’s stock worth $902,000 after buying an additional 140 shares during the last quarter. California Public Employees Retirement System boosted its position in SpartanNash by 0.9% in the third quarter. California Public Employees Retirement System now owns 68,660 shares of the company’s stock worth $1,986,000 after buying an additional 600 shares during the last quarter. Martin & Co. Inc. TN boosted its position in SpartanNash by 2.0% in the third quarter. Martin & Co. Inc. TN now owns 37,855 shares of the company’s stock worth $1,095,000 after buying an additional 725 shares during the last quarter. Public Sector Pension Investment Board boosted its position in SpartanNash by 3.5% in the fourth quarter. Public Sector Pension Investment Board now owns 26,744 shares of the company’s stock worth $1,057,000 after buying an additional 900 shares during the last quarter. Finally, Thrivent Financial for Lutherans boosted its position in SpartanNash by 0.4% in the fourth quarter. Thrivent Financial for Lutherans now owns 256,850 shares of the company’s stock worth $10,155,000 after buying an additional 1,010 shares during the last quarter. Hedge funds and other institutional investors own 85.76% of the company’s stock.
SpartanNash 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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