Spartan Stores Inc. (SPTN) Sees Strong Trading Volume
Spartan Stores Inc. (NASDAQ:SPTN) shares saw an uptick in trading volume on Thursday . 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.
A number of research firms have weighed in on SPTN. Zacks Investment Research cut Spartan Stores from a “buy” rating to a “hold” rating in a research report on Wednesday, August 3rd. Jefferies Group reissued 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 one has issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $31.33.
The firm has a market cap of $1.16 billion and a price-to-earnings ratio of 18.79. The stock has a 50 day moving average price of $30.67 and a 200 day moving average price of $27.78.
Spartan Stores (NASDAQ:SPTN) last announced its earnings results on Wednesday, May 25th. The company reported $0.54 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 the consensus estimate of $2.28 billion. During the same period in the previous year, the firm posted $0.44 EPS. The business’s quarterly revenue was down 1.5% on a year-over-year basis. On average, equities research analysts predict that Spartan Stores Inc. will post $2.14 EPS for the current year.
In other news, CEO Dennis Eidson sold 12,210 shares of the business’s stock in a transaction that occurred on Tuesday, June 7th. The shares were sold at an average price of $29.83, for a total value of $364,224.30. Following the completion of the transaction, the chief executive officer now directly owns 231,262 shares in the company, valued at approximately $6,898,545.46. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Derek R. Jones sold 4,435 shares of the business’s stock in a transaction that occurred on Friday, June 3rd. The shares were sold at an average price of $29.73, for a total transaction of $131,852.55. Following the completion of the transaction, the executive vice president now owns 73,967 shares of the company’s stock, valued at $2,199,038.91. The disclosure for this sale can be found here.
Other institutional investors have recently modified their holdings of the company. Ancora Advisors LLC boosted its position in shares of Spartan Stores 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. Trexquant Investment LP bought a new position in Spartan Stores during the fourth quarter worth about $1,331,000. Systematic Financial Management LP boosted its position in Spartan Stores by 7.6% in the fourth quarter. Systematic Financial Management LP now owns 81,735 shares of the company’s stock worth $1,768,000 after buying an additional 5,765 shares in the last quarter. New York State Common Retirement Fund boosted its position in Spartan Stores by 2.5% in the fourth quarter. New York State Common Retirement Fund now owns 120,603 shares of the company’s stock worth $2,610,000 after buying an additional 2,900 shares in the last quarter. Finally, Rhumbline Advisers boosted its position in Spartan Stores by 6.2% in the fourth quarter. Rhumbline Advisers now owns 63,910 shares of the company’s stock worth $1,383,000 after buying an additional 3,755 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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