Shares of SpartanNash Co (NASDAQ:SPTN) have been assigned an average recommendation of “Hold” from the ten brokerages that are currently covering the stock, Marketbeat reports. Five investment analysts have rated the stock with a sell recommendation, two have issued a hold recommendation and three have assigned a buy recommendation to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $16.00.
Several research analysts have recently commented on SPTN shares. ValuEngine downgraded Zynerba Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Tuesday, May 28th. Zacks Investment Research downgraded GENEL ENERGY PL/ADR from a “buy” rating to a “hold” rating in a research note on Tuesday, May 7th. Pivotal Research reduced their target price on SpartanNash from $12.00 to $10.00 and set a “sell” rating for the company in a research note on Tuesday, June 11th. Loop Capital started coverage on SpartanNash in a research note on Tuesday, June 25th. They set a “buy” rating and a $15.00 target price for the company. Finally, BMO Capital Markets reiterated a “hold” rating on shares of Royal Bank of Canada in a research note on Thursday, May 23rd.
A number of large investors have recently added to or reduced their stakes in SPTN. Oregon Public Employees Retirement Fund acquired a new position in shares of SpartanNash in the 4th quarter valued at $235,000. PNC Financial Services Group Inc. grew its position in shares of SpartanNash by 77.2% during the 4th quarter. PNC Financial Services Group Inc. now owns 1,588 shares of the company’s stock valued at $27,000 after acquiring an additional 692 shares during the period. California Public Employees Retirement System grew its position in shares of SpartanNash by 2.1% during the 4th quarter. California Public Employees Retirement System now owns 72,173 shares of the company’s stock valued at $1,240,000 after acquiring an additional 1,497 shares during the period. BlackRock Inc. grew its position in shares of SpartanNash by 2.3% during 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 during the period. Finally, Texas Permanent School Fund grew its position in shares of SpartanNash by 4.0% during the 4th quarter. Texas Permanent School Fund now owns 23,519 shares of the company’s stock valued at $404,000 after acquiring an additional 910 shares during the period. 84.00% of the stock is owned by institutional investors and hedge funds.
SpartanNash (NASDAQ:SPTN) last posted its quarterly earnings results 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. The firm had revenue of $2.54 billion during the quarter, compared to the consensus estimate of $2.51 billion. SpartanNash had a return on equity of 7.77% and a net margin of 0.35%. The business’s revenue was up 6.6% compared to the same quarter last year. During the same period last year, the company earned $0.55 earnings per share. As a group, equities analysts expect that SpartanNash will post 1.33 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 14th were paid a dividend of $0.19 per share. The ex-dividend date was Thursday, June 13th. This represents a $0.76 annualized dividend and a dividend yield of 6.64%. SpartanNash’s dividend payout ratio is currently 40.64%.
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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