Strs Ohio Buys 600 Shares of Spartan Stores Inc. (SPTN)
Strs Ohio increased its stake in Spartan Stores Inc. (NASDAQ:SPTN) by 2.0% during the second quarter, Holdings Channel reports. The fund owned 30,600 shares of the company’s stock after buying an additional 600 shares during the period. Strs Ohio’s holdings in Spartan Stores were worth $935,000 as of its most recent SEC filing.
A number of other large investors also recently modified their holdings of SPTN. Kennedy Capital Management Inc. boosted its position in Spartan Stores by 11.6% in the first quarter. Kennedy Capital Management Inc. now owns 516,665 shares of the company’s stock worth $15,660,000 after buying an additional 53,795 shares in the last quarter. Bogle Investment Management L P DE boosted its position in Spartan Stores by 18.7% in the first quarter. Bogle Investment Management L P DE now owns 135,564 shares of the company’s stock worth $4,108,000 after buying an additional 21,393 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in Spartan Stores by 61.8% in the first quarter. Goldman Sachs Group Inc. now owns 178,739 shares of the company’s stock worth $5,417,000 after buying an additional 68,272 shares in the last quarter. Zebra Capital Management LLC boosted its position in Spartan Stores by 25.4% in the first quarter. Zebra Capital Management LLC now owns 28,474 shares of the company’s stock worth $863,000 after buying an additional 5,764 shares in the last quarter. Finally, Landscape Capital Management L.L.C. acquired a new position in Spartan Stores during the first quarter worth approximately $403,000. 86.54% of the stock is currently owned by institutional investors.
Shares of Spartan Stores Inc. (NASDAQ:SPTN) traded up 0.03% on Friday, reaching $28.87. The company had a trading volume of 203,794 shares. The company’s 50 day moving average price is $29.90 and its 200-day moving average price is $29.55. Spartan Stores Inc. has a 1-year low of $17.66 and a 1-year high of $33.89. The stock has a market capitalization of $1.08 billion, a P/E ratio of 18.31 and a beta of 0.87.
Spartan Stores (NASDAQ:SPTN) last released its earnings results on Wednesday, August 17th. The company reported $0.58 earnings per share for the quarter, topping the Zacks’ 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 business had revenue of $1.83 billion for the quarter, compared to analyst estimates of $1.80 billion. During the same period last year, the company posted $0.53 EPS. The business’s revenue was up 1.8% on a year-over-year basis. Equities analysts predict that Spartan Stores Inc. will post $2.14 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 30th. Shareholders of record on Friday, September 16th were paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 2.08%. The ex-dividend date was Wednesday, September 14th. Spartan Stores’s dividend payout ratio (DPR) is 37.97%.
A number of research analysts have recently commented on SPTN shares. Jefferies Group set a $27.00 target price on Spartan Stores and gave the company a “hold” rating in a research note on Saturday, October 1st. Zacks Investment Research raised Spartan Stores from a “hold” rating to a “buy” rating and set a $33.00 target price on the stock in a research note on Tuesday, October 11th. Deutsche Bank AG set a $28.00 target price on Spartan Stores and gave the company a “hold” rating in a research note on Thursday, August 18th. Barclays PLC started coverage on Spartan Stores in a research note on Friday, September 23rd. They set an “equal weight” rating and a $31.00 target price on the stock. Finally, Northcoast Research raised Spartan Stores from a “neutral” rating to a “buy” rating in a research note on Tuesday, August 23rd. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Spartan Stores currently has an average rating of “Hold” and an average price target of $29.80.
In other Spartan Stores news, VP David Des Couch sold 14,092 shares of the firm’s stock in a transaction that occurred 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 transaction, the vice president now directly owns 59,270 shares of the company’s stock, valued at approximately $1,913,828.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 3.30% of the stock is currently 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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