Brokerages Set SpartanNash Company (SPTN) Price Target at $24.80
SpartanNash Company (NASDAQ:SPTN) has been given an average recommendation of “Hold” by the eight analysts that are presently covering the firm, MarketBeat Ratings reports. Three analysts have rated the stock with a sell rating and five have assigned a hold rating to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $24.80.
SPTN has been the subject of a number of recent analyst reports. BidaskClub raised SpartanNash from a “sell” rating to a “hold” rating in a report on Tuesday, June 13th. Jefferies Group LLC set a $35.00 target price on SpartanNash and gave the company a “hold” rating in a report on Wednesday, June 14th. Pivotal Research downgraded SpartanNash from a “hold” rating to a “sell” rating and reduced their target price for the company from $35.00 to $20.00 in a report on Monday, June 26th. Barclays PLC reissued an “equal weight” rating and issued a $28.00 target price (down previously from $36.00) on shares of SpartanNash in a report on Friday, July 14th. Finally, ValuEngine raised SpartanNash from a “hold” rating to a “buy” rating in a report on Monday, July 17th.
Shares of SpartanNash (SPTN) traded down 0.64% during midday trading on Friday, reaching $26.29. 153,768 shares of the company traded hands. The stock’s 50-day moving average is $24.98 and its 200-day moving average is $29.59. SpartanNash has a 1-year low of $22.90 and a 1-year high of $40.38. The stock has a market capitalization of $979.83 million, a P/E ratio of 15.08 and a beta of 1.08.
SpartanNash (NASDAQ:SPTN) last released its earnings results on Wednesday, August 16th. The company reported $0.60 EPS for the quarter, meeting analysts’ consensus estimates of $0.60. SpartanNash had a return on equity of 10.00% and a net margin of 0.83%. The company had revenue of $1.89 billion during the quarter, compared to the consensus estimate of $1.96 billion. During the same quarter last year, the company earned $0.58 earnings per share. SpartanNash’s quarterly revenue was up 3.7% compared to the same quarter last year. Equities analysts predict that SpartanNash will post $2.23 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, September 29th. Stockholders of record on Friday, September 15th were given a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a dividend yield of 2.51%. The ex-dividend date of this dividend was Thursday, September 14th. SpartanNash’s dividend payout ratio is currently 37.93%.
Hedge funds have recently made changes to their positions in the company. BlackRock Inc. increased its position in shares of SpartanNash by 21,712.5% in the first quarter. BlackRock Inc. now owns 4,785,883 shares of the company’s stock valued at $167,458,000 after buying an additional 4,763,942 shares in the last quarter. Gotham Asset Management LLC increased its position in shares of SpartanNash by 16.9% in the first quarter. Gotham Asset Management LLC now owns 172,430 shares of the company’s stock valued at $6,033,000 after buying an additional 24,931 shares in the last quarter. Legal & General Group Plc increased its position in shares of SpartanNash by 6.9% in the second quarter. Legal & General Group Plc now owns 102,064 shares of the company’s stock valued at $2,650,000 after buying an additional 6,599 shares in the last quarter. UBS Asset Management Americas Inc. increased its position in shares of SpartanNash by 119.1% in the first quarter. UBS Asset Management Americas Inc. now owns 22,527 shares of the company’s stock valued at $788,000 after buying an additional 12,246 shares in the last quarter. Finally, Prudential Financial Inc. increased its position in shares of SpartanNash by 2.9% in the second quarter. Prudential Financial Inc. now owns 623,227 shares of the company’s stock valued at $16,179,000 after buying an additional 17,520 shares in the last quarter. Institutional investors and hedge funds own 88.24% of the company’s stock.
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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