Spartan Stores Inc. (SPTN) Shares Down 3.6%
Spartan Stores Inc. (NASDAQ:SPTN)’s share price fell 3.6% during trading on Thursday . The stock traded as low as $30.57 and last traded at $30.79, with a volume of 72,114 shares changing hands. The stock had previously closed at $31.95.
Several research firms recently commented on SPTN. Jefferies Group reiterated a “hold” rating on shares of Spartan Stores in a research note on Sunday, May 29th. Pivotal Research lowered Spartan Stores from a “buy” rating to a “hold” rating and set a $30.00 target price for the company. in a research note on Friday, April 1st. Finally, Zacks Investment Research lowered Spartan Stores from a “buy” rating to a “hold” rating in a research note on Wednesday, May 11th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Spartan Stores has an average rating of “Hold” and an average price target of $31.33.
The stock has a market capitalization of $1.18 billion and a P/E ratio of 19.10. The company has a 50 day moving average of $30.16 and a 200 day moving average of $26.98.
Spartan Stores (NASDAQ:SPTN) last issued its quarterly earnings results on Wednesday, May 25th. The company reported $0.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.49 by $0.05. During the same period in the previous year, the business posted $0.44 earnings per share. The firm had revenue of $2.28 billion for the quarter, compared to the consensus estimate of $2.28 billion. The business’s revenue for the quarter was down 1.5% compared to the same quarter last year. Equities research analysts anticipate that Spartan Stores Inc. will post $2.14 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Thursday, June 30th. Shareholders of record on Thursday, June 16th were paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 1.90%. The ex-dividend date of this dividend was Tuesday, June 14th.
In other news, VP David Des Couch sold 10,000 shares of the firm’s stock in a transaction on Friday, July 8th. The stock was sold at an average price of $31.00, for a total transaction of $310,000.00. Following the completion of the sale, the vice president now directly owns 69,270 shares of the company’s stock, valued at approximately $2,147,370. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Derek R. Jones sold 4,435 shares of the firm’s stock in a transaction on Friday, June 3rd. The stock was sold at an average price of $29.73, for a total value of $131,852.55. Following the sale, the executive vice president now directly owns 73,967 shares of the company’s stock, valued at $2,199,038.91. The disclosure for this sale can be found here.
Several large investors recently added to or reduced their stakes in SPTN. PNC Financial Services Group Inc. raised its stake in Spartan Stores by 54.8% in the fourth quarter. PNC Financial Services Group Inc. now owns 59,166 shares of the company’s stock valued at $1,280,000 after buying an additional 20,936 shares in the last quarter. Trexquant Investment LP bought a new stake in Spartan Stores during the fourth quarter valued at $1,331,000. Rhumbline Advisers raised its stake in Spartan Stores by 6.2% in the fourth quarter. Rhumbline Advisers now owns 63,910 shares of the company’s stock valued at $1,383,000 after buying an additional 3,755 shares in the last quarter. California State Teachers Retirement System raised its stake in Spartan Stores by 1.8% in the fourth quarter. California State Teachers Retirement System now owns 69,739 shares of the company’s stock valued at $1,509,000 after buying an additional 1,247 shares in the last quarter. Finally, First Trust Advisors LP raised its stake in Spartan Stores by 31.5% in the fourth quarter. First Trust Advisors LP now owns 79,855 shares of the company’s stock valued at $1,728,000 after buying an additional 19,143 shares in the last quarter.
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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