Brokerages Set SpartanNash Co (SPTN) PT at $21.20
Shares of SpartanNash Co (NASDAQ:SPTN) have been given a consensus rating of “Hold” by the ten ratings firms that are presently covering the stock, Marketbeat reports. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $21.20.
SPTN has been the subject of a number of research reports. Pivotal Research set a $15.00 target price on SpartanNash and gave the stock a “sell” rating in a report on Thursday, May 31st. BMO Capital Markets set a $25.00 target price on SpartanNash and gave the stock a “buy” rating in a report on Thursday, May 31st. Barclays lifted their target price on SpartanNash from $17.00 to $23.00 and gave the stock an “equal weight” rating in a report on Thursday, May 31st. ValuEngine raised SpartanNash from a “strong sell” rating to a “sell” rating in a report on Friday, June 1st. Finally, BidaskClub raised SpartanNash from a “hold” rating to a “buy” rating in a report on Saturday, June 2nd.
SPTN stock traded up $0.06 during midday trading on Friday, reaching $20.73. 400,069 shares of the company were exchanged, compared to its average volume of 114,005. The company has a debt-to-equity ratio of 0.97, a current ratio of 2.06 and a quick ratio of 0.88. SpartanNash has a one year low of $16.32 and a one year high of $27.72. The stock has a market cap of $744.89 million, a price-to-earnings ratio of 10.36, a price-to-earnings-growth ratio of 1.46 and a beta of 1.16.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 28th. Stockholders of record on Friday, September 14th will be issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 3.47%. The ex-dividend date is Thursday, September 13th. SpartanNash’s dividend payout ratio is currently 34.29%.
Hedge funds have recently bought and sold shares of the stock. Sun Life Financial INC acquired a new position in SpartanNash in the second quarter valued at about $134,000. Koch Industries Inc. acquired a new position in SpartanNash in the first quarter valued at about $180,000. Piedmont Investment Advisors LLC acquired a new position in SpartanNash in the second quarter valued at about $213,000. Xact Kapitalforvaltning AB acquired a new position in SpartanNash in the second quarter valued at about $227,000. Finally, Creative Planning acquired a new position in SpartanNash in the second quarter valued at about $256,000. 85.05% of the stock is owned by institutional investors and hedge funds.
SpartanNash Company distributes and retails grocery products. It operates in three segments: Food Distribution, Military, and Retail. The Food Distribution segment offers approximately 60,000 stock-keeping units, such as 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 pharmacy products to independent retail locations, food service distributors, and corporate-owned retail stores.
Receive News & Ratings for SpartanNash Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SpartanNash and related companies with MarketBeat.com's FREE daily email newsletter.