SpartanNash (SPTN) Price Target Lowered to $13.00 at Barclays

SpartanNash (NASDAQ:SPTN) had its target price reduced by Barclays from $15.00 to $13.00 in a report issued on Tuesday, The Fly reports. The firm presently has an “underweight” rating on the stock. Barclays‘s price target would indicate a potential downside of 4.97% from the company’s current price.

SPTN has been the topic of several other reports. Zacks Investment Research raised SpartanNash from a “sell” rating to a “hold” rating in a research report on Wednesday, May 1st. Pivotal Research reaffirmed a “sell” rating and issued a $12.00 price target (down from $14.00) on shares of SpartanNash in a research report on Thursday, February 21st. BidaskClub downgraded SpartanNash from a “buy” rating to a “hold” rating in a research report on Tuesday, April 30th. Finally, ValuEngine downgraded SpartanNash from a “hold” rating to a “sell” rating in a research report on Wednesday, March 6th. Four analysts have rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company’s stock. SpartanNash has an average rating of “Hold” and an average price target of $20.17.

Shares of SPTN stock opened at $13.68 on Tuesday. The company has a current ratio of 2.10, a quick ratio of 0.94 and a debt-to-equity ratio of 0.95. SpartanNash has a twelve month low of $13.34 and a twelve month high of $26.99. The company has a market capitalization of $536.04 million, a P/E ratio of 7.32, a P/E/G ratio of 1.64 and a beta of 1.19.

SpartanNash (NASDAQ:SPTN) last issued its quarterly earnings data on Monday, May 20th. The company reported $0.24 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.23 by $0.01. SpartanNash had a return on equity of 9.31% and a net margin of 0.42%. The business had revenue of $2.54 billion for the quarter, compared to the consensus estimate of $2.51 billion. During the same period last year, the business earned $0.55 EPS. The firm’s revenue was up 6.6% compared to the same quarter last year. On average, research analysts forecast that SpartanNash will post 1.3 EPS for the current year.

In other news, Director M Shan Atkins sold 4,676 shares of SpartanNash stock in a transaction that occurred on Friday, March 22nd. The stock was sold at an average price of $15.88, for a total transaction of $74,254.88. Following the sale, the director now owns 49,949 shares of the company’s stock, valued at approximately $793,190.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Yvonne R. Jackson sold 1,800 shares of SpartanNash stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $18.33, for a total value of $32,994.00. Following the sale, the director now directly owns 33,081 shares in the company, valued at approximately $606,374.73. The disclosure for this sale can be found here. Insiders have sold a total of 11,152 shares of company stock worth $188,845 in the last three months. 2.20% of the stock is owned by insiders.

Several large investors have recently made changes to their positions in SPTN. Bank of New York Mellon Corp grew its holdings in shares of SpartanNash by 1.2% during the 3rd quarter. Bank of New York Mellon Corp now owns 867,675 shares of the company’s stock worth $17,406,000 after purchasing an additional 10,490 shares in the last quarter. AQR Capital Management LLC acquired a new stake in shares of SpartanNash during the 3rd quarter worth approximately $1,331,000. Legal & General Group Plc grew its holdings in shares of SpartanNash by 5.5% during the 3rd quarter. Legal & General Group Plc now owns 106,454 shares of the company’s stock worth $2,136,000 after purchasing an additional 5,515 shares in the last quarter. Morgan Stanley boosted its stake in SpartanNash by 33.1% in the 3rd quarter. Morgan Stanley now owns 148,304 shares of the company’s stock valued at $2,975,000 after buying an additional 36,854 shares in the last quarter. Finally, Vanguard Group Inc. boosted its stake in SpartanNash by 1.3% in the 3rd quarter. Vanguard Group Inc. now owns 2,309,338 shares of the company’s stock valued at $46,324,000 after buying an additional 29,971 shares in the last quarter. 86.87% of the stock is currently 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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Analyst Recommendations for SpartanNash (NASDAQ:SPTN)

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