Zacks: Analysts Anticipate SpartanNash Co (SPTN) Will Post Quarterly Sales of $2.51 Billion

Wall Street analysts expect SpartanNash Co (NASDAQ:SPTN) to report sales of $2.51 billion for the current quarter, according to Zacks Investment Research. Two analysts have provided estimates for SpartanNash’s earnings. The highest sales estimate is $2.52 billion and the lowest is $2.49 billion. SpartanNash posted sales of $2.39 billion during the same quarter last year, which would indicate a positive year over year growth rate of 5%. The firm is expected to announce its next earnings report on Tuesday, June 4th.

According to Zacks, analysts expect that SpartanNash will report full year sales of $8.53 billion for the current year, with estimates ranging from $8.48 billion to $8.57 billion. For the next financial year, analysts forecast that the business will report sales of $8.86 billion, with estimates ranging from $8.82 billion to $8.90 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that cover SpartanNash.

SpartanNash (NASDAQ:SPTN) last announced its quarterly earnings results on Wednesday, February 20th. The company reported $0.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by ($0.07). SpartanNash had a return on equity of 9.31% and a net margin of 0.42%. The firm had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.93 billion. During the same quarter in the previous year, the company posted $0.41 EPS. The firm’s revenue was up .6% on a year-over-year basis.

SPTN has been the topic of several analyst reports. BidaskClub raised shares of SpartanNash from a “hold” rating to a “buy” rating in a report on Monday, January 7th. ValuEngine raised shares of SpartanNash from a “sell” rating to a “hold” rating in a report on Tuesday, January 15th. Barclays reissued a “hold” rating and set a $20.00 price objective on shares of SpartanNash in a report on Wednesday, January 9th. 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. Finally, Zacks Investment Research raised shares of SpartanNash from a “sell” rating to a “hold” rating in a report on Wednesday, January 9th. Three investment analysts have rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $21.33.

Shares of SPTN stock traded down $0.07 during trading hours on Thursday, reaching $17.02. The company had a trading volume of 158,553 shares, compared to its average volume of 179,005. SpartanNash has a 12 month low of $15.30 and a 12 month high of $26.99. The company has a quick ratio of 0.94, a current ratio of 2.10 and a debt-to-equity ratio of 0.95. The firm has a market capitalization of $611.90 million, a PE ratio of 9.10, a P/E/G ratio of 1.93 and a beta of 1.20.

The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were given a dividend of $0.19 per share. The ex-dividend date of this dividend was Thursday, March 14th. This is an increase from SpartanNash’s previous quarterly dividend of $0.18. This represents a $0.76 dividend on an annualized basis and a yield of 4.47%. SpartanNash’s payout ratio is currently 40.64%.

In related news, Director Yvonne R. Jackson sold 1,800 shares of the business’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $18.33, for a total transaction of $32,994.00. Following the completion of the transaction, the director now directly owns 33,081 shares in the company, valued at $606,374.73. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director M Shan Atkins sold 4,676 shares of the business’s stock in a transaction 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 transaction, the director now owns 49,949 shares of the company’s stock, valued at $793,190.12. The disclosure for this sale can be found here. Insiders have sold 11,152 shares of company stock valued at $188,845 over the last 90 days. 2.40% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in SPTN. Norges Bank acquired a new stake in shares of SpartanNash in the 4th quarter valued at $13,997,000. BlackRock Inc. grew its holdings in shares of SpartanNash by 2.3% during the fourth quarter. BlackRock Inc. now owns 5,384,860 shares of the company’s stock valued at $92,511,000 after buying an additional 121,694 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC purchased a new stake in shares of SpartanNash during the fourth quarter valued at $2,030,000. AQR Capital Management LLC purchased a new stake in shares of SpartanNash during the third quarter valued at $1,331,000. Finally, Martingale Asset Management L P grew its holdings in shares of SpartanNash by 237.5% during the third quarter. Martingale Asset Management L P now owns 81,744 shares of the company’s stock valued at $1,640,000 after buying an additional 57,522 shares during the last quarter. 86.67% of the stock is owned by institutional investors.

About SpartanNash

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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