SpartanNash Co (SPTN) Director Sells $74,254.88 in Stock
SpartanNash Co (NASDAQ:SPTN) Director M Shan Atkins sold 4,676 shares of the stock in a transaction dated Friday, March 22nd. The shares were sold at an average price of $15.88, for a total transaction of $74,254.88. Following the completion of the transaction, the director now directly owns 49,949 shares of the company’s stock, valued at approximately $793,190.12. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.
NASDAQ SPTN traded up $0.18 during trading on Monday, hitting $15.66. The stock had a trading volume of 201,551 shares, compared to its average volume of 229,638. The company has a debt-to-equity ratio of 0.95, a current ratio of 2.10 and a quick ratio of 0.94. The company has a market cap of $556.54 million, a P/E ratio of 8.37, a PEG ratio of 1.75 and a beta of 1.23. SpartanNash Co has a one year low of $15.30 and a one year high of $26.99.
SpartanNash (NASDAQ:SPTN) last announced its quarterly earnings data on Wednesday, February 20th. The company reported $0.32 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.39 by ($0.07). The firm had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.93 billion. SpartanNash had a return on equity of 9.31% and a net margin of 0.42%. The firm’s revenue for the quarter was up .6% on a year-over-year basis. During the same period in the previous year, the business earned $0.41 EPS. As a group, equities research analysts expect that SpartanNash Co will post 1.77 EPS for the current year.
A number of brokerages recently commented on SPTN. Barclays downgraded shares of SpartanNash from an “equal weight” rating to an “underweight” rating in a report on Tuesday, March 12th. BidaskClub downgraded shares of SpartanNash from a “strong-buy” rating to a “buy” rating in a report on Thursday, March 7th. ValuEngine downgraded shares of SpartanNash from a “hold” rating to a “sell” rating in a report on Wednesday, March 6th. Pivotal Research reaffirmed a “sell” rating and issued a $12.00 price target (down previously from $14.00) on shares of SpartanNash in a report on Thursday, February 21st. Finally, Royal Bank of Canada began coverage on shares of SpartanNash in a report on Thursday, January 10th. They issued an “outperform” rating and a $25.00 price target for the company. Three equities research analysts have rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $21.33.
Hedge funds and other institutional investors have recently made changes to their positions in the business. PNC Financial Services Group Inc. lifted its stake in SpartanNash by 77.2% in the fourth quarter. PNC Financial Services Group Inc. now owns 1,588 shares of the company’s stock worth $27,000 after purchasing an additional 692 shares during the last quarter. FNY Investment Advisers LLC bought a new stake in SpartanNash in the fourth quarter worth about $37,000. Quantamental Technologies LLC bought a new stake in SpartanNash in the fourth quarter worth about $49,000. Advisor Group Inc. lifted its stake in SpartanNash by 28.4% in the fourth quarter. Advisor Group Inc. now owns 3,213 shares of the company’s stock worth $55,000 after purchasing an additional 711 shares during the last quarter. Finally, Bessemer Group Inc. bought a new stake in SpartanNash in the third quarter worth about $102,000. 86.67% 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.
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