Spartan Stores Inc. (SPTN) Shares Sold by California Public Employees Retirement System
California Public Employees Retirement System reduced its stake in shares of Spartan Stores Inc. (NASDAQ:SPTN) by 0.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 68,060 shares of the company’s stock after selling 300 shares during the period. California Public Employees Retirement System owned about 0.18% of Spartan Stores worth $2,081,000 as of its most recent filing with the SEC.
Other hedge funds also recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Spartan Stores by 293.8% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,351 shares of the company’s stock valued at $102,000 after buying an additional 2,500 shares during the last quarter. Springbok Capital Management LLC increased its position in Spartan Stores by 73.5% in the first quarter. Springbok Capital Management LLC now owns 7,980 shares of the company’s stock worth $242,000 after buying an additional 3,380 shares in the last quarter. Suntrust Banks Inc. increased its position in Spartan Stores by 3.4% in the second quarter. Suntrust Banks Inc. now owns 10,356 shares of the company’s stock worth $315,000 after buying an additional 336 shares in the last quarter. Aperio Group LLC purchased a new position in Spartan Stores during the first quarter worth about $334,000. Finally, 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 worth $395,000 after buying an additional 6,440 shares in the last quarter. Institutional investors own 86.54% of the company’s stock.
Spartan Stores Inc. (NASDAQ:SPTN) traded up 0.24% during midday trading on Wednesday, hitting $28.93. The stock had a trading volume of 38,512 shares. Spartan Stores Inc. has a 52 week low of $17.66 and a 52 week high of $33.89. The firm has a 50 day moving average of $30.50 and a 200 day moving average of $29.56. The firm has a market cap of $1.08 billion, a price-to-earnings ratio of 18.34 and a beta of 0.87.
Spartan Stores (NASDAQ:SPTN) last posted its quarterly earnings data on Wednesday, August 17th. The company reported $0.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.01. The business earned $1.83 billion during the quarter, compared to the consensus estimate of $1.80 billion. Spartan Stores had a return on equity of 10.15% and a net margin of 0.78%. The firm’s quarterly revenue was up 1.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.53 earnings per share. Equities research analysts predict that Spartan Stores Inc. will post $2.14 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 30th. Shareholders of record on Friday, September 16th were issued a $0.15 dividend. The ex-dividend date was Wednesday, September 14th. This represents a $0.60 dividend on an annualized basis and a yield of 2.08%. Spartan Stores’s dividend payout ratio (DPR) is 37.97%.
A number of equities analysts have issued reports on the stock. Jefferies Group set a $27.00 price objective on shares of Spartan Stores and gave the stock a “hold” rating in a report on Saturday. Northcoast Research raised shares of Spartan Stores from a “neutral” rating to a “buy” rating in a report on Tuesday, August 23rd. Deutsche Bank AG set a $28.00 price objective on shares of Spartan Stores and gave the stock a “hold” rating in a report on Thursday, August 18th. Zacks Investment Research raised shares of Spartan Stores from a “hold” rating to a “buy” rating and set a $35.00 price objective on the stock in a report on Saturday, August 20th. Finally, Barclays PLC assumed coverage on shares of Spartan Stores in a report on Friday, September 23rd. They set an “equal weight” rating and a $31.00 price objective on the stock. Five analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $30.20.
In other Spartan Stores 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 value of $455,030.68. Following the completion of the transaction, the vice president now owns 59,270 shares in the company, valued at $1,913,828.30. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 3.30% of the stock is owned by company insiders.
About Spartan Stores
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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