SpartanNash (NASDAQ:SPTN) Lifted to Hold at Zacks Investment Research

SpartanNash (NASDAQ:SPTN) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Thursday, Zacks.com reports.

According to Zacks, “SpartanNash Co. is a food distributor serving military commissaries and exchanges in the United States. The company’s core businesses include distributing food to military commissaries and exchanges and independent and corporate-owned retail stores located in 44 states and the District of Columbia, Europe, Cuba, Puerto Rico, the Azores, Bahrain and Egypt. It operates supermarkets, primarily under the banners of Family Fare Supermarkets, No Frills, Bag ‘n Save and Econofoods. SpartanNash Co., formerly known as Spartan Stores, Inc., is headquartered in United States. “

Other research analysts also recently issued reports about the company. Northcoast Research downgraded SpartanNash from a “buy” rating to a “neutral” rating and set a $16.50 price target for the company. in a report on Monday, November 15th. Deutsche Bank Aktiengesellschaft boosted their price target on SpartanNash from $21.00 to $24.00 and gave the company a “hold” rating in a report on Friday, November 12th.

SpartanNash stock opened at $25.20 on Thursday. The company has a quick ratio of 0.65, a current ratio of 1.43 and a debt-to-equity ratio of 0.52. SpartanNash has a 52 week low of $17.28 and a 52 week high of $26.36. The company has a market capitalization of $905.79 million, a price-to-earnings ratio of 14.24 and a beta of 0.71. The stock has a 50-day moving average price of $25.00 and a 200 day moving average price of $22.30.

SpartanNash (NASDAQ:SPTN) last announced its quarterly earnings results on Wednesday, November 10th. The company reported $0.43 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.41 by $0.02. SpartanNash had a return on equity of 9.33% and a net margin of 0.70%. The company had revenue of $2.07 billion during the quarter, compared to the consensus estimate of $2.06 billion. During the same period in the previous year, the company posted $0.70 earnings per share. Research analysts anticipate that SpartanNash will post 1.77 EPS for the current fiscal year.

In other news, Director Frank Gambino sold 6,877 shares of the company’s stock in a transaction that occurred on Tuesday, November 30th. The stock was sold at an average price of $24.16, for a total transaction of $166,148.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.80% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the stock. Total Clarity Wealth Management Inc. purchased a new stake in shares of SpartanNash during the third quarter worth approximately $31,000. Eaton Vance Management increased its position in shares of SpartanNash by 4.3% during the third quarter. Eaton Vance Management now owns 10,360 shares of the company’s stock worth $31,000 after purchasing an additional 423 shares in the last quarter. Advisor Group Holdings Inc. increased its position in shares of SpartanNash by 23.7% during the second quarter. Advisor Group Holdings Inc. now owns 5,466 shares of the company’s stock worth $106,000 after purchasing an additional 1,049 shares in the last quarter. Captrust Financial Advisors increased its position in shares of SpartanNash by 11.8% during the third quarter. Captrust Financial Advisors now owns 5,785 shares of the company’s stock worth $127,000 after purchasing an additional 611 shares in the last quarter. Finally, UBS Group AG increased its position in shares of SpartanNash by 48.4% during the third quarter. UBS Group AG now owns 6,485 shares of the company’s stock worth $143,000 after purchasing an additional 2,115 shares in the last quarter. Hedge funds and other institutional investors own 79.25% of the company’s stock.

About SpartanNash

SpartanNash Co engages in the distribution of grocery products to military commissaries in the U.S. It operates through the following segments: Military, Food Distribution and Retail. The Military segment sells and distributes grocery products primarily to U.S. military commissaries and exchanges. The Food Distribution segment distributes groceries to independent and corporate owned grocery retailers using multi-platform sales approach.

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