SpartanNash Co (SPTN) Sees Strong Trading Volume
SpartanNash Co (NASDAQ:SPTN) shares saw unusually-strong trading volume on Thursday . Approximately 272,681 shares were traded during trading, an increase of 102% from the previous session’s volume of 134,677 shares.The stock last traded at $30.84 and had previously closed at $31.27.
Several equities research analysts recently weighed in on SPTN shares. Jefferies Group set a $33.00 price objective on SpartanNash and gave the company a “hold” rating in a report on Wednesday, July 27th. Zacks Investment Research raised SpartanNash from a “hold” rating to a “buy” rating and set a $31.00 price objective on the stock in a report on Saturday, May 28th. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $31.33.
The firm’s 50 day moving average is $30.63 and its 200-day moving average is $27.69. The stock has a market cap of $1.16 billion and a P/E ratio of 18.70.
SpartanNash (NASDAQ:SPTN) last posted its earnings results on Wednesday, May 25th. The company reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.49 by $0.05. The company had revenue of $2.28 billion for the quarter, compared to analysts’ expectations of $2.28 billion. The company’s revenue was down 1.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.44 EPS. On average, analysts forecast that SpartanNash Co will post $2.14 earnings per share for the current year.
In other SpartanNash 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 transaction of $455,030.68. Following the sale, the vice president now owns 59,270 shares in the company, valued at $1,913,828.30. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO David M. Staples sold 3,549 shares of the stock in a transaction on Thursday, June 9th. The stock was sold at an average price of $29.46, for a total value of $104,553.54. Following the sale, the chief operating officer now owns 89,154 shares in the company, valued at approximately $2,626,476.84. The disclosure for this sale can be found here.
Several hedge funds and institutional investors have recently added to or reduced their stakes in SPTN. Systematic Financial Management LP boosted its position in SpartanNash by 7.6% in the fourth quarter. Systematic Financial Management LP now owns 81,735 shares of the company’s stock valued at $1,768,000 after buying an additional 5,765 shares during the last quarter. California State Teachers Retirement System boosted its position in SpartanNash 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 during the last quarter. Ancora Advisors LLC boosted its position in SpartanNash by 21.0% in the fourth quarter. Ancora Advisors LLC now owns 171,649 shares of the company’s stock valued at $4,487,000 after buying an additional 29,772 shares during the last quarter. New York State Common Retirement Fund boosted its position in SpartanNash by 2.5% in the fourth quarter. New York State Common Retirement Fund now owns 120,603 shares of the company’s stock valued at $2,610,000 after buying an additional 2,900 shares during the last quarter. Finally, Rhumbline Advisers boosted its position in SpartanNash 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 during 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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