SpartanNash Company (SPTN) to Issue $0.17 Quarterly Dividend
SpartanNash Company (NASDAQ:SPTN) declared a quarterly dividend on Tuesday, November 21st, Wall Street Journal reports. Investors of record on Friday, December 8th will be paid a dividend of 0.165 per share on Friday, December 29th. This represents a $0.66 annualized dividend and a dividend yield of 2.95%. The ex-dividend date of this dividend is Thursday, December 7th.
Shares of SpartanNash (NASDAQ:SPTN) traded down $0.27 during trading on Tuesday, hitting $22.34. 206,981 shares of the company traded hands, compared to its average volume of 203,687. The company has a current ratio of 1.81, a quick ratio of 0.74 and a debt-to-equity ratio of 0.92. SpartanNash has a 12-month low of $18.56 and a 12-month high of $40.38. The stock has a market capitalization of $838.89, a PE ratio of 10.28, a PEG ratio of 3.60 and a beta of 1.02.
SpartanNash (NASDAQ:SPTN) last released its quarterly earnings results on Wednesday, November 8th. The company reported $0.54 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.54. The company had revenue of $1.91 billion for the quarter, compared to analyst estimates of $1.90 billion. SpartanNash had a negative net margin of 0.93% and a positive return on equity of 10.35%. The firm’s revenue was up 6.1% on a year-over-year basis. During the same quarter last year, the business earned $0.53 earnings per share. analysts predict that SpartanNash will post 2.11 earnings per share for the current fiscal year.
SpartanNash announced that its board has approved a stock buyback plan on Thursday, November 16th that permits the company to buyback $50.00 million in outstanding shares. This buyback authorization permits the company to buy shares of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board believes its shares are undervalued.
Several analysts recently commented on SPTN shares. Zacks Investment Research lowered shares of SpartanNash from a “hold” rating to a “sell” rating in a research report on Saturday, August 19th. Pivotal Research set a $20.00 price target on shares of SpartanNash and gave the company a “sell” rating in a research report on Tuesday, August 15th. Deutsche Bank AG dropped their price target on shares of SpartanNash from $40.00 to $26.00 and set a “hold” rating on the stock in a research report on Friday, August 18th. Jefferies Group LLC set a $25.00 price target on shares of SpartanNash and gave the company a “hold” rating in a research report on Monday, September 11th. Finally, BMO Capital Markets started coverage on shares of SpartanNash in a research report on Tuesday, September 12th. They set a “market perform” rating and a $25.00 price target on the stock. Three analysts have rated the stock with a sell rating and five have assigned a hold rating to the company. SpartanNash presently has a consensus rating of “Hold” and a consensus price target of $23.20.
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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