Spartan Stores Inc. (SPTN) Trading Down 0.7%
Spartan Stores Inc. (NASDAQ:SPTN) shares traded down 0.7% during mid-day trading on Monday . The company traded as low as $30.68 and last traded at $30.78, with a volume of 79,508 shares trading hands. The stock had previously closed at $30.99.
A number of research analysts recently issued reports on the stock. Zacks Investment Research cut shares of Spartan Stores from a “buy” rating to a “hold” rating in a research report on Wednesday, August 3rd. Jefferies Group reaffirmed a “hold” rating on shares of Spartan Stores in a report on Sunday, May 29th. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Spartan Stores currently has a consensus rating of “Hold” and an average price target of $31.33.
The stock has a 50-day moving average of $30.73 and a 200 day moving average of $27.99. The stock has a market capitalization of $1.15 billion and a price-to-earnings ratio of 18.62.
Spartan Stores (NASDAQ:SPTN) last posted its quarterly earnings results on Wednesday, May 25th. The company reported $0.54 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.49 by $0.05. The company earned $2.28 billion during the quarter, compared to analysts’ expectations of $2.28 billion. During the same period in the prior year, the business earned $0.44 EPS. The company’s quarterly revenue was down 1.5% on a year-over-year basis. Equities analysts predict that Spartan Stores Inc. will post $2.14 EPS for the current fiscal year.
In related news, VP David Des Couch sold 14,092 shares of the firm’s stock in a transaction dated 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 owns 59,270 shares of the company’s stock, valued at approximately $1,913,828.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Lawrence R. Pierce sold 1,213 shares of the firm’s stock in a transaction dated Monday, June 13th. The stock was sold at an average price of $28.87, for a total transaction of $35,019.31. Following the completion of the transaction, the executive vice president now directly owns 31,012 shares in the company, valued at approximately $895,316.44. The disclosure for this sale can be found here.
A number of hedge funds and institutional investors recently bought and sold shares of the company. Ancora Advisors LLC increased its position in 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 in the last quarter. New York State Common Retirement Fund increased 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 valued at $2,610,000 after buying an additional 2,900 shares in the last quarter. Systematic Financial Management LP increased 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 valued at $1,768,000 after buying an additional 5,765 shares in the last quarter. First Trust Advisors LP increased its position in Spartan Stores by 31.5% in the fourth quarter. First Trust Advisors LP now owns 79,855 shares of the company’s stock valued at $1,728,000 after buying an additional 19,143 shares in the last quarter. Finally, Rhumbline Advisers increased its position in Spartan Stores by 6.2% in the fourth quarter. Rhumbline Advisers now owns 63,910 shares of the company’s stock valued at $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.