SuperValu Inc. (SVU) Bonds Trading 2.1% Lower
An issue of SuperValu Inc. (NYSE:SVU) debt fell 2.1% as a percentage of its face value during trading on Thursday. The high-yield debt issue has a 7.75% coupon and will mature on November 15, 2022. The bonds in the issue are now trading at $97.38 and were trading at $97.00 last week. Price moves in a company’s debt in credit markets sometimes anticipate parallel moves in its share price.
SVU has been the topic of a number of research analyst reports. Royal Bank Of Canada set a $42.00 price target on shares of SuperValu and gave the stock a “buy” rating in a report on Monday, August 28th. Pivotal Research set a $42.00 price target on shares of SuperValu and gave the stock a “buy” rating in a report on Wednesday, August 23rd. Zacks Investment Research upgraded shares of SuperValu from a “hold” rating to a “buy” rating and set a $28.00 price target on the stock in a report on Monday, July 31st. Deutsche Bank AG restated a “hold” rating and issued a $28.00 price target (down from $35.00) on shares of SuperValu in a report on Wednesday, July 26th. Finally, Morgan Stanley restated an “equal weight” rating and issued a $24.50 price target (down from $31.50) on shares of SuperValu in a report on Monday, June 19th. One research analyst has rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $32.67.
SuperValu Inc. (SVU) traded up 2.26% during mid-day trading on Friday, reaching $21.27. 348,866 shares of the company were exchanged. SuperValu Inc. has a 1-year low of $19.16 and a 1-year high of $38.43. The stock’s 50-day moving average price is $21.56 and its 200-day moving average price is $24.59. The stock has a market capitalization of $811.28 million, a price-to-earnings ratio of 1.31 and a beta of 2.11.
SuperValu (NYSE:SVU) last issued its quarterly earnings data on Tuesday, July 25th. The company reported $0.63 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.70 by ($0.07). The business had revenue of $4 billion for the quarter, compared to analyst estimates of $3.91 billion. SuperValu had a return on equity of 220.54% and a net margin of 4.46%. The firm’s revenue for the quarter was up 6.3% compared to the same quarter last year. During the same period in the previous year, the business posted $1.33 earnings per share. On average, equities research analysts anticipate that SuperValu Inc. will post $2.36 EPS for the current fiscal year.
Large investors have recently modified their holdings of the stock. First Trust Advisors LP increased its position in shares of SuperValu by 33.4% during the 1st quarter. First Trust Advisors LP now owns 256,799 shares of the company’s stock worth $991,000 after purchasing an additional 64,302 shares during the last quarter. Assenagon Asset Management S.A. grew its position in SuperValu by 840.5% in the 2nd quarter. Assenagon Asset Management S.A. now owns 197,591 shares of the company’s stock valued at $650,000 after acquiring an additional 176,581 shares in the last quarter. Mason Street Advisors LLC grew its position in SuperValu by 7.6% in the 1st quarter. Mason Street Advisors LLC now owns 62,588 shares of the company’s stock valued at $242,000 after acquiring an additional 4,444 shares in the last quarter. Addison Clark Management L.L.C. grew its position in SuperValu by 52.6% in the 1st quarter. Addison Clark Management L.L.C. now owns 1,054,644 shares of the company’s stock valued at $4,071,000 after acquiring an additional 363,544 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its position in SuperValu by 7.1% in the 1st quarter. Bank of New York Mellon Corp now owns 3,877,370 shares of the company’s stock valued at $14,967,000 after acquiring an additional 256,947 shares in the last quarter.
Supervalu Inc is a wholesale distributor to independent retail customers across the United States. The Company’s segments include Wholesale and Retail. The Company offers a range of advertised brand name and private-label products, including grocery (both perishable and nonperishable), general merchandise and home, health and beauty care, and pharmacy, which are sold through Company-operated and licensed Retail stores to shoppers and through its Wholesale segment to independent retail customers.
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