Prudential Financial Inc. increased its position in shares of Spartan Stores Inc. (NASDAQ:SPTN) by 7.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 527,257 shares of the company’s stock after buying an additional 36,620 shares during the period. Prudential Financial Inc. owned about 1.41% of Spartan Stores worth $16,124,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. BlackRock Fund Advisors raised its position in Spartan Stores by 0.5% in the first quarter. BlackRock Fund Advisors now owns 2,345,868 shares of the company’s stock worth $71,103,000 after buying an additional 11,316 shares in the last quarter. TIAA CREF Investment Management LLC raised its position in Spartan Stores by 2.1% in the first quarter. TIAA CREF Investment Management LLC now owns 210,302 shares of the company’s stock worth $6,374,000 after buying an additional 4,271 shares in the last quarter. BNP Paribas Arbitrage SA raised its position in Spartan Stores by 99.4% in the second quarter. BNP Paribas Arbitrage SA now owns 12,920 shares of the company’s stock worth $395,000 after buying an additional 6,440 shares in the last quarter. Norges Bank bought a new position in Spartan Stores during the fourth quarter worth about $11,787,000. Finally, NN Investment Partners Holdings N.V. bought a new position in Spartan Stores during the first quarter worth about $1,364,000. Institutional investors and hedge funds own 86.54% of the company’s stock.
Shares of Spartan Stores Inc. (NASDAQ:SPTN) traded up 0.28% on Friday, reaching $28.69. The company’s stock had a trading volume of 31,611 shares. Spartan Stores Inc. has a 52 week low of $17.66 and a 52 week high of $33.89. The stock has a market capitalization of $1.07 billion, a price-to-earnings ratio of 18.19 and a beta of 0.84. The stock has a 50-day moving average of $30.68 and a 200 day moving average of $29.55.
Spartan Stores (NASDAQ:SPTN) last released its quarterly earnings results on Wednesday, August 17th. The company reported $0.58 EPS for the quarter, topping the Zacks’ consensus estimate of $0.57 by $0.01. The business had revenue of $1.83 billion for the quarter, compared to analyst estimates of $1.80 billion. Spartan Stores had a return on equity of 10.15% and a net margin of 0.78%. Spartan Stores’s revenue for the quarter was up 1.8% on a year-over-year basis. During the same period in the prior year, the company earned $0.53 EPS. On average, analysts expect that Spartan Stores Inc. will post $2.14 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 30th. Investors of record on Friday, September 16th will be given a dividend of $0.15 per share. The ex-dividend date of this dividend is Wednesday, September 14th. This represents a $0.60 dividend on an annualized basis and a yield of 2.10%. Spartan Stores’s dividend payout ratio (DPR) is presently 37.97%.
A number of research analysts recently issued reports on SPTN shares. Barclays PLC started coverage on Spartan Stores in a research report on Friday, September 23rd. They set an “equal weight” rating and a $31.00 price objective for the company. Jefferies Group set a $33.00 price objective on Spartan Stores and gave the company a “hold” rating in a research report on Wednesday, July 27th. Zacks Investment Research lowered Spartan Stores from a “buy” rating to a “hold” rating in a research report on Wednesday, August 3rd. Deutsche Bank AG set a $28.00 price objective on Spartan Stores and gave the company a “hold” rating in a research report on Thursday, August 18th. Finally, Northcoast Research upgraded Spartan Stores from a “neutral” rating to a “buy” rating in a research report on Tuesday, August 23rd. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $31.40.
In related news, VP David Des Couch sold 14,092 shares of the stock in a transaction that occurred on Monday, August 1st. The stock was sold at an average price of $32.29, for a total transaction of $455,030.68. Following the sale, the vice president now directly owns 59,270 shares in the company, valued at approximately $1,913,828.30. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 3.30% of the company’s stock.
Spartan Stores Company Profile
Spartannash Company, formerly Spartan Stores, Inc, is a multi-regional grocery distributor and grocery retailer, and a distributor of grocery products to military commissaries 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 over 40 states and the District of Columbia, Europe, Cuba, Puerto Rico, Bahrain, Egypt, Honduras, Afghanistan and Bosnia.
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