Algert Global LLC Has $979,000 Position in Spartan Stores Inc. (SPTN)
Algert Global LLC raised its position in Spartan Stores Inc. (NASDAQ:SPTN) by 170.3% during the third quarter, Holdings Channel reports. The fund owned 33,844 shares of the company’s stock after buying an additional 21,323 shares during the period. Algert Global LLC’s holdings in Spartan Stores were worth $979,000 at the end of the most recent reporting period.
Several other hedge funds have also added to or reduced their stakes in the company. LSV Asset Management raised its stake in Spartan Stores by 29.5% in the second quarter. LSV Asset Management now owns 1,566,184 shares of the company’s stock valued at $47,893,000 after buying an additional 356,753 shares in the last quarter. JPMorgan Chase & Co. raised its stake in Spartan Stores by 48.3% in the second quarter. JPMorgan Chase & Co. now owns 1,095,859 shares of the company’s stock valued at $33,512,000 after buying an additional 356,678 shares in the last quarter. Emerald Acquisition Ltd. purchased a new stake in Spartan Stores during the second quarter valued at approximately $10,329,000. Vanguard Group Inc. raised its stake in Spartan Stores by 8.3% in the second quarter. Vanguard Group Inc. now owns 2,177,152 shares of the company’s stock valued at $66,577,000 after buying an additional 167,741 shares in the last quarter. Finally, Acadian Asset Management LLC raised its stake in Spartan Stores by 359.2% in the second quarter. Acadian Asset Management LLC now owns 192,735 shares of the company’s stock valued at $5,894,000 after buying an additional 150,760 shares in the last quarter. Hedge funds and other institutional investors own 86.54% of the company’s stock.
Shares of Spartan Stores Inc. (NASDAQ:SPTN) opened at 28.87 on Friday. The stock has a 50 day moving average of $29.90 and a 200 day moving average of $29.55. Spartan Stores Inc. has a 12 month low of $17.66 and a 12 month high of $33.89. The firm has a market cap of $1.08 billion, a price-to-earnings ratio of 18.31 and a beta of 0.87.
Spartan Stores (NASDAQ:SPTN) last released its quarterly earnings results on Wednesday, August 17th. The company reported $0.58 EPS for the quarter, beating the consensus estimate of $0.57 by $0.01. Spartan Stores had a net margin of 0.78% and a return on equity of 10.15%. The firm earned $1.83 billion during the quarter, compared to the consensus estimate of $1.80 billion. During the same quarter in the prior year, the firm earned $0.53 EPS. Spartan Stores’s revenue for the quarter was up 1.8% on a year-over-year basis. On average, equities research analysts expect that Spartan Stores Inc. will post $2.14 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 30th. Investors of record on Friday, September 16th were given a $0.15 dividend. The ex-dividend date was Wednesday, September 14th. This represents a $0.60 annualized dividend and a yield of 2.08%. Spartan Stores’s dividend payout ratio (DPR) is 37.97%.
Several analysts recently commented on SPTN shares. Deutsche Bank AG set a $28.00 price target on shares of Spartan Stores and gave the company a “hold” rating in a research report on Thursday, August 18th. Zacks Investment Research upgraded shares of Spartan Stores from a “hold” rating to a “buy” rating and set a $35.00 price target on the stock in a research report on Saturday, August 20th. Northcoast Research upgraded shares of Spartan Stores from a “neutral” rating to a “buy” rating in a research report on Tuesday, August 23rd. Jefferies Group set a $33.00 price target on shares of Spartan Stores and gave the company a “hold” rating in a research report on Wednesday, July 27th. Finally, Barclays PLC started coverage on shares of Spartan Stores in a research report on Friday, September 23rd. They set an “equal weight” rating and a $31.00 price target on the stock. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Spartan Stores currently has a consensus rating of “Hold” and a consensus price target of $29.80.
In related news, VP David Des Couch sold 14,092 shares of the company’s stock in a transaction on Monday, August 1st. The shares were sold at an average price of $32.29, for a total value of $455,030.68. Following the completion of the sale, the vice president now owns 59,270 shares in the company, valued at approximately $1,913,828.30. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 3.30% of the stock is currently owned by corporate 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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