StockNews.com upgraded shares of SpartanNash (NASDAQ:SPTN – Free Report) from a hold rating to a buy rating in a research report sent to investors on Wednesday.
Separately, BMO Capital Markets lowered their price objective on SpartanNash from $22.00 to $20.00 and set a market perform rating on the stock in a research report on Friday, May 31st.
View Our Latest Report on SPTN
SpartanNash Trading Down 0.1 %
SpartanNash (NASDAQ:SPTN – Get Free Report) last posted its quarterly earnings data on Thursday, August 15th. The company reported $0.59 earnings per share for the quarter, beating analysts’ consensus estimates of $0.56 by $0.03. The firm had revenue of $2.23 billion for the quarter, compared to analysts’ expectations of $2.27 billion. SpartanNash had a return on equity of 8.87% and a net margin of 0.48%. The business’s quarterly revenue was down 3.5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.65 EPS. Sell-side analysts forecast that SpartanNash will post 1.98 EPS for the current year.
Hedge Funds Weigh In On SpartanNash
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. New York State Common Retirement Fund grew its stake in SpartanNash by 71.9% during the fourth quarter. New York State Common Retirement Fund now owns 42,931 shares of the company’s stock valued at $985,000 after acquiring an additional 17,954 shares in the last quarter. Russell Investments Group Ltd. lifted its position in shares of SpartanNash by 18.7% in the fourth quarter. Russell Investments Group Ltd. now owns 39,135 shares of the company’s stock worth $899,000 after buying an additional 6,170 shares in the last quarter. Victory Capital Management Inc. bought a new position in SpartanNash during the fourth quarter valued at approximately $238,000. Charles Schwab Investment Management Inc. increased its stake in SpartanNash by 7.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 477,579 shares of the company’s stock worth $10,960,000 after acquiring an additional 33,550 shares during the last quarter. Finally, Counterpoint Mutual Funds LLC purchased a new stake in shares of SpartanNash during the 4th quarter worth approximately $391,000. Institutional investors own 84.59% of the company’s stock.
SpartanNash Company Profile
SpartanNash Company distributes and retails grocery products in the United States of America. It operates through Wholesale and Retail segments. The Wholesale segment offers grocery products and perishable food products, including dry groceries, produce, dairy products, meat, delicatessen items, bakery goods, frozen food, seafood, floral products, general merchandise, beverages, tobacco products, health and beauty care, and pharmaceutical products to independent retailers, national accounts, food service distributors, e-commerce providers, and corporate owned retail stores.
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