SuperValu Inc. (SVU) Shares Up 10.2%
SuperValu Inc. (NYSE:SVU) shares shot up 10.2% on Wednesday . The company traded as high as $5.09 and last traded at $5.07, with a volume of 2,423,857 shares changing hands. The stock had previously closed at $4.60.
A number of brokerages have weighed in on SVU. Zacks Investment Research raised shares of SuperValu from a “hold” rating to a “buy” rating and set a $5.25 price target on the stock in a research note on Monday. Morgan Stanley reaffirmed a “hold” rating and issued a $5.50 price target on shares of SuperValu in a research note on Friday, June 10th. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $6.68.
The firm has a market cap of $1.33 billion and a price-to-earnings ratio of 7.59. The company has a 50 day moving average price of $4.62 and a 200 day moving average price of $5.10.
SuperValu (NYSE:SVU) last released its earnings results on Tuesday, April 26th. The company reported $0.23 earnings per share for the quarter, beating analysts’ consensus estimates of $0.19 by $0.04. During the same period in the prior year, the company posted $0.24 EPS. The firm had revenue of $3.95 billion for the quarter, compared to analyst estimates of $4.02 billion. The business’s revenue for the quarter was down 10.1% compared to the same quarter last year. On average, equities research analysts forecast that SuperValu Inc. will post $0.71 EPS for the current year.
A number of hedge funds have recently added to or reduced their stakes in SVU. Wells Fargo & Company MN increased its stake in SuperValu by 151.3% in the fourth quarter. Wells Fargo & Company MN now owns 2,726,218 shares of the company’s stock worth $18,484,000 after buying an additional 1,641,341 shares in the last quarter. Oxford Asset Management increased its stake in SuperValu by 207.6% in the fourth quarter. Oxford Asset Management now owns 416,267 shares of the company’s stock worth $2,818,000 after buying an additional 280,943 shares in the last quarter. Alambic Investment Management L.P. purchased a new stake in SuperValu during the fourth quarter worth $1,720,000. Trexquant Investment LP purchased a new stake in SuperValu during the fourth quarter worth $1,479,000. Finally, Engineers Gate Manager LP increased its stake in SuperValu by 1,185.9% in the fourth quarter. Engineers Gate Manager LP now owns 199,310 shares of the company’s stock worth $1,351,000 after buying an additional 183,810 shares in the last quarter.
SUPERVALU INC. is a wholesale distributor to independent retail customers across the United States. The Company operates through three segments: Wholesale, Save-A-Lot and Retail. The Wholesale segment spans approximately 40 states and serves as a primary grocery supplier to approximately 1,800 stores of independent retail customers, in addition to its own Retail stores, as well as serving as a secondary grocery supplier to approximately 230 stores of independent retail customers.
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