Shares of Spartan Stores Inc. (NASDAQ:SPTN) have been assigned an average recommendation of “Hold” from the seven research firms that are currently covering the company. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $31.40.
Several equities analysts recently commented on SPTN shares. Zacks Investment Research raised shares of Spartan Stores from a “hold” rating to a “buy” rating and set a $35.00 price objective for the company in a research note on Saturday, August 20th. Jefferies Group set a $33.00 price objective on shares of Spartan Stores and gave the company a “hold” rating in a research note on Wednesday, July 27th. Northcoast Research raised shares of Spartan Stores from a “neutral” rating to a “buy” rating in a research note on Tuesday, August 23rd. Deutsche Bank AG set a $28.00 price objective on shares of Spartan Stores and gave the company a “hold” rating in a research note on Thursday, August 18th. Finally, Barclays PLC started coverage on shares of Spartan Stores in a research note on Friday, September 23rd. They set an “equal weight” rating and a $31.00 price objective for the company.
Spartan Stores (NASDAQ:SPTN) opened at 28.92 on Tuesday. The stock’s 50 day moving average is $30.62 and its 200 day moving average is $29.55. The company has a market cap of $1.08 billion, a P/E ratio of 18.34 and a beta of 0.84. Spartan Stores has a 1-year low of $17.66 and a 1-year high of $33.89.
Spartan Stores (NASDAQ:SPTN) last posted its earnings results on Wednesday, August 17th. The company reported $0.58 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.01. The firm earned $1.83 billion during the quarter, compared to the consensus estimate of $1.80 billion. Spartan Stores had a net margin of 0.78% and a return on equity of 10.15%. The company’s revenue was up 1.8% on a year-over-year basis. During the same quarter last year, the company earned $0.53 earnings per share. Equities analysts anticipate that Spartan Stores will post $2.14 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 30th. Shareholders of record on Friday, September 16th were paid a $0.15 dividend. The ex-dividend date of this dividend was Wednesday, September 14th. This represents a $0.60 dividend on an annualized basis and a yield of 2.07%. Spartan Stores’s dividend payout ratio is presently 37.97%.
In other Spartan Stores news, VP David Des Couch sold 14,092 shares of the business’s stock in a transaction that occurred on Monday, August 1st. The shares were sold at an average price of $32.29, for a total value of $455,030.68. Following the completion of the transaction, the vice president now owns 59,270 shares of the company’s stock, valued at approximately $1,913,828.30. The transaction was disclosed in a filing with the SEC, which is available through this link. 3.30% of the stock is currently owned by company insiders.
Institutional investors have recently added to or reduced their stakes in the company. Mason Street Advisors LLC bought a new position in Spartan Stores during the second quarter worth approximately $224,000. Public Employees Retirement System of Ohio raised its stake in shares of Spartan Stores by 13.9% in the second quarter. Public Employees Retirement System of Ohio now owns 5,993 shares of the company’s stock worth $183,000 after buying an additional 732 shares during the last quarter. American Century Companies Inc. raised its stake in shares of Spartan Stores by 90.2% in the second quarter. American Century Companies Inc. now owns 53,242 shares of the company’s stock worth $1,628,000 after buying an additional 25,256 shares during the last quarter. Legal & General Group Plc raised its stake in shares of Spartan Stores by 56.6% in the second quarter. Legal & General Group Plc now owns 14,132 shares of the company’s stock worth $423,000 after buying an additional 5,109 shares during the last quarter. Finally, Numeric Investors LLC raised its stake in shares of Spartan Stores by 31.8% in the second quarter. Numeric Investors LLC now owns 383,164 shares of the company’s stock worth $11,717,000 after buying an additional 92,422 shares during the last quarter. 86.54% of the stock is owned by institutional investors and hedge funds.
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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