Equities Analysts Offer Predictions for SpartanNash Co’s FY2022 Earnings (SPTN)
SpartanNash Co (NASDAQ:SPTN) – Investment analysts at Jefferies Group issued their FY2022 earnings per share estimates for shares of SpartanNash in a report released on Friday. Jefferies Group analyst C. Mandeville expects that the company will post earnings per share of $2.78 for the year. Jefferies Group currently has a “Hold” rating and a $25.00 price objective on the stock.
Other equities analysts also recently issued research reports about the stock. TheStreet downgraded shares of SpartanNash from a “b-” rating to a “c-” rating in a research note on Wednesday, November 8th. Barclays cut their target price on shares of SpartanNash from $28.00 to $22.00 and set an “equal weight” rating on the stock in a research note on Friday, November 10th. ValuEngine downgraded shares of SpartanNash from a “buy” rating to a “hold” rating in a research note on Sunday, December 31st. BidaskClub raised shares of SpartanNash from a “sell” rating to a “hold” rating in a research note on Saturday, December 2nd. Finally, BMO Capital Markets started coverage on shares of SpartanNash in a research note on Tuesday, September 12th. They issued a “market perform” rating and a $25.00 target price on the stock. Two equities research analysts have rated the stock with a sell rating and seven have assigned a hold rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $23.20.
Shares of SpartanNash (SPTN) traded up $0.35 during mid-day trading on Monday, hitting $25.42. 385,737 shares of the stock were exchanged, compared to its average volume of 253,960. SpartanNash has a fifty-two week low of $18.56 and a fifty-two week high of $40.38. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.74 and a current ratio of 1.81. The stock has a market cap of $926.88, a P/E ratio of -12.58, a PEG ratio of 3.83 and a beta of 1.02.
SpartanNash (NASDAQ:SPTN) last issued its earnings results on Wednesday, November 8th. The company reported $0.54 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.54. SpartanNash had a negative net margin of 0.93% and a positive return on equity of 10.35%. The business had revenue of $1.91 billion for the quarter, compared to the consensus estimate of $1.90 billion. During the same quarter last year, the firm posted $0.53 EPS. The business’s revenue for the quarter was up 6.1% compared to the same quarter last year.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in SPTN. Janus Henderson Group PLC acquired a new stake in SpartanNash during the 3rd quarter valued at $20,161,000. Bank of New York Mellon Corp grew its holdings in SpartanNash by 71.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,000,318 shares of the company’s stock valued at $25,968,000 after purchasing an additional 417,765 shares in the last quarter. Thrivent Financial For Lutherans grew its holdings in SpartanNash by 105.1% during the 2nd quarter. Thrivent Financial For Lutherans now owns 529,376 shares of the company’s stock valued at $13,743,000 after purchasing an additional 271,266 shares in the last quarter. Vanguard Group Inc. grew its holdings in SpartanNash by 8.4% during the 2nd quarter. Vanguard Group Inc. now owns 2,757,235 shares of the company’s stock valued at $71,578,000 after purchasing an additional 212,923 shares in the last quarter. Finally, Ameriprise Financial Inc. grew its holdings in SpartanNash by 23.0% during the 3rd quarter. Ameriprise Financial Inc. now owns 519,717 shares of the company’s stock valued at $13,706,000 after purchasing an additional 97,074 shares in the last quarter. 86.05% of the stock is owned by institutional investors and hedge funds.
The company also recently declared a quarterly dividend, which was paid on Friday, December 29th. Investors of record on Friday, December 8th were issued a dividend of $0.165 per share. This represents a $0.66 dividend on an annualized basis and a yield of 2.60%. The ex-dividend date was Thursday, December 7th. SpartanNash’s payout ratio is -32.67%.
SpartanNash announced that its board has authorized a share buyback plan on Thursday, November 16th that permits the company to buyback $50.00 million in shares. This buyback authorization permits the company to repurchase shares of its stock through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its shares are undervalued.
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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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