SpartanNash Company (SPTN) Hits New 52-Week Low at $23.18
SpartanNash Company (NASDAQ:SPTN) hit a new 52-week low during mid-day trading on Friday . The company traded as low as $23.18 and last traded at $23.12, with a volume of 58,539 shares changing hands. The stock had previously closed at $24.14.
A number of equities research analysts have issued reports on the stock. Pivotal Research decreased their target price on shares of SpartanNash from $40.00 to $35.00 and set a “hold” rating for the company in a research note on Wednesday, May 24th. Zacks Investment Research lowered shares of SpartanNash from a “hold” rating to a “sell” rating in a research note on Saturday, May 27th. ValuEngine lowered shares of SpartanNash from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. BidaskClub raised shares of SpartanNash from a “sell” rating to a “hold” rating in a research note on Tuesday, June 13th. Finally, Jefferies Group LLC set a $35.00 target price on shares of SpartanNash and gave the company a “hold” rating in a research note on Wednesday, June 14th. Three research analysts have rated the stock with a sell rating and four have assigned a hold rating to the stock. The company has an average rating of “Hold” and a consensus target price of $28.40.
The firm has a market cap of $858.33 million, a price-to-earnings ratio of 13.21 and a beta of 1.06. The firm’s 50-day moving average price is $25.79 and its 200-day moving average price is $30.80.
SpartanNash (NASDAQ:SPTN) last issued its quarterly earnings data on Wednesday, August 16th. The company reported $0.60 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.60. The company had revenue of $1.89 billion for the quarter, compared to analyst estimates of $1.96 billion. SpartanNash had a net margin of 0.83% and a return on equity of 10.00%. The company’s revenue was up 3.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.58 earnings per share. Analysts forecast that SpartanNash Company will post $2.23 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 15th will be given a $0.165 dividend. This represents a $0.66 annualized dividend and a dividend yield of 2.73%. The ex-dividend date of this dividend is Thursday, September 14th. SpartanNash’s payout ratio is presently 37.93%.
In other news, Director M Shan Atkins sold 2,000 shares of the stock in a transaction dated Monday, June 19th. The shares were sold at an average price of $27.69, for a total value of $55,380.00. Following the transaction, the director now directly owns 32,425 shares of the company’s stock, valued at $897,848.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 3.00% of the stock is owned by corporate insiders.
Large investors have recently added to or reduced their stakes in the stock. Ameritas Investment Partners Inc. bought a new position in SpartanNash during the first quarter worth about $112,000. Victory Capital Management Inc. increased its position in SpartanNash by 55.8% during the first quarter. Victory Capital Management Inc. now owns 3,985 shares of the company’s stock worth $139,000 after acquiring an additional 1,427 shares during the period. State of Alaska Department of Revenue increased its position in SpartanNash by 2.0% during the first quarter. State of Alaska Department of Revenue now owns 4,140 shares of the company’s stock worth $144,000 after acquiring an additional 80 shares during the period. LS Investment Advisors LLC increased its position in SpartanNash by 225.4% during the first quarter. LS Investment Advisors LLC now owns 4,555 shares of the company’s stock worth $159,000 after acquiring an additional 3,155 shares during the period. Finally, Sei Investments Co. bought a new position in SpartanNash during the second quarter worth about $127,000. 88.24% of the stock is currently owned by institutional investors and hedge funds.
SpartanNash Company Profile
SpartanNash Company is a multi-regional grocery distributor and grocery retailer. The Company’s core businesses include distributing grocery products to independent grocery retailers (independent retailers), select national retailers, its corporate owned retail stores, and the United States military commissaries.
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