SpartanNash Company (SPTN) Receives Consensus Recommendation of “Hold” from Analysts
Shares of SpartanNash Company (NASDAQ:SPTN) have received a consensus rating of “Hold” from the nine ratings firms that are presently covering the firm, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell recommendation and six have issued a hold recommendation on the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $23.20.
A number of equities research analysts have recently commented on SPTN shares. TheStreet lowered SpartanNash from a “b-” rating to a “c-” rating in a research report on Wednesday, November 8th. ValuEngine lowered SpartanNash from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. Pivotal Research reaffirmed a “sell” rating and set a $18.00 price target on shares of SpartanNash in a research report on Wednesday, November 8th. Barclays dropped their target price on SpartanNash from $28.00 to $22.00 and set an “equal weight” rating on the stock in a research report on Friday, November 10th. Finally, BMO Capital Markets assumed coverage on SpartanNash in a research report on Tuesday, September 12th. They issued a “market perform” rating and a $25.00 target price on the stock.
SpartanNash (NASDAQ:SPTN) traded down $0.97 during midday trading on Friday, hitting $25.04. The stock had a trading volume of 232,500 shares, compared to its average volume of 206,644. The firm has a market capitalization of $945.18, a price-to-earnings ratio of 11.72, a P/E/G ratio of 4.11 and a beta of 1.02. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.74 and a current ratio of 1.81. SpartanNash has a 52 week low of $18.56 and a 52 week high of $40.38.
SpartanNash announced that its Board of Directors has initiated a share buyback plan on Thursday, November 16th that permits the company to repurchase $50.00 million in outstanding shares. This repurchase authorization permits the company to buy shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its shares are undervalued.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Friday, December 8th will be given a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a yield of 2.64%. The ex-dividend date of this dividend is Thursday, December 7th. SpartanNash’s dividend payout ratio is presently -32.84%.
A number of institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its position in SpartanNash by 8.4% in the 2nd quarter. Vanguard Group Inc. now owns 2,757,235 shares of the company’s stock valued at $71,578,000 after buying an additional 212,923 shares during the last quarter. State Street Corp grew its stake in SpartanNash by 5.6% in the second quarter. State Street Corp now owns 1,065,210 shares of the company’s stock valued at $27,654,000 after purchasing an additional 56,359 shares in the last quarter. Bank of New York Mellon Corp grew its stake in SpartanNash by 3.2% in the third quarter. Bank of New York Mellon Corp now owns 1,032,110 shares of the company’s stock valued at $27,217,000 after purchasing an additional 31,792 shares in the last quarter. Northern Trust Corp grew its stake in SpartanNash by 10.0% in the second quarter. Northern Trust Corp now owns 797,462 shares of the company’s stock valued at $20,702,000 after purchasing an additional 72,318 shares in the last quarter. Finally, Janus Henderson Group PLC bought a new position in SpartanNash in the third quarter valued at approximately $20,161,000. 86.09% of the stock is currently owned by institutional investors and hedge funds.
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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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