SpartanNash (NASDAQ:SPTN) had its target price decreased by stock analysts at Barclays from $15.00 to $13.00 in a research report issued on Tuesday, May 21st, The Fly reports. The firm presently has an “underweight” rating on the stock. Barclays‘s target price indicates a potential upside of 14.94% from the stock’s previous close.
Several other research analysts have also recently issued reports on SPTN. Zacks Investment Research raised shares of SpartanNash from a “sell” rating to a “hold” rating in a report on Wednesday, May 1st. BidaskClub raised shares of SpartanNash from a “buy” rating to a “strong-buy” rating in a report on Friday, February 15th. ValuEngine cut shares of SpartanNash from a “hold” rating to a “sell” rating in a report on Wednesday, March 6th. Finally, Pivotal Research reissued a “sell” rating and set a $12.00 price objective (down from $14.00) on shares of SpartanNash in a report on Thursday, February 21st. Five research analysts have rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company’s stock. SpartanNash currently has a consensus rating of “Hold” and a consensus price target of $16.20.
Shares of SPTN traded down $0.40 during trading hours on Tuesday, reaching $11.31. 120,230 shares of the company traded hands, compared to its average volume of 243,473. The firm has a market capitalization of $429.96 million, a price-to-earnings ratio of 6.05, a PEG ratio of 1.26 and a beta of 1.38. The company has a current ratio of 1.90, a quick ratio of 0.82 and a debt-to-equity ratio of 1.49. SpartanNash has a 12 month low of $11.12 and a 12 month high of $26.50.
SpartanNash (NASDAQ:SPTN) last announced its earnings results on Monday, May 20th. The company reported $0.24 earnings per share for the quarter, beating analysts’ consensus estimates of $0.23 by $0.01. The firm had revenue of $2.54 billion for the quarter, compared to analyst estimates of $2.51 billion. SpartanNash had a net margin of 0.35% and a return on equity of 7.77%. The company’s revenue for the quarter was up 6.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.55 EPS. On average, research analysts forecast that SpartanNash will post 1.35 EPS for the current fiscal year.
In other SpartanNash news, Director M Shan Atkins sold 4,676 shares of the company’s stock in a transaction that occurred on 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 sale, the director now directly owns 49,949 shares of the company’s stock, valued at $793,190.12. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 2.20% of the stock is currently owned by corporate insiders.
Hedge funds have recently made changes to their positions in the business. Norges Bank purchased a new position in SpartanNash in the fourth quarter worth $13,997,000. Robeco Institutional Asset Management B.V. increased its position in SpartanNash by 277.0% in the 1st quarter. Robeco Institutional Asset Management B.V. now owns 311,204 shares of the company’s stock valued at $4,940,000 after acquiring an additional 228,646 shares in the last quarter. AQR Capital Management LLC increased its position in SpartanNash by 152.6% in the 1st quarter. AQR Capital Management LLC now owns 373,634 shares of the company’s stock valued at $5,930,000 after acquiring an additional 225,705 shares in the last quarter. BlackRock Inc. increased its position in SpartanNash by 2.3% in the 4th quarter. BlackRock Inc. now owns 5,384,860 shares of the company’s stock valued at $92,511,000 after acquiring an additional 121,694 shares in the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC acquired a new stake in SpartanNash in the 4th quarter valued at about $2,030,000. 83.94% of the stock is owned by institutional investors and hedge funds.
SpartanNash Company Profile
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 retailers, national retailers, food service distributors, e-commerce providers, and corporate owned retail stores.
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