SpartanNash (SPTN) Trading 6.4% Higher

Shares of SpartanNash Company (NASDAQ:SPTN) were up 6.4% during mid-day trading on Tuesday . The company traded as high as $27.31 and last traded at $26.99. Approximately 510,300 shares traded hands during trading, an increase of 147% from the average daily volume of 206,500 shares. The stock had previously closed at $25.36.

A number of analysts recently issued reports on SPTN shares. Zacks Investment Research cut SpartanNash from a “hold” rating to a “sell” rating in a research note on Saturday, August 19th. TheStreet cut SpartanNash from a “b-” rating to a “c-” rating in a research note on Wednesday, November 8th. Pivotal Research set a $20.00 target price on SpartanNash and gave the stock a “sell” rating in a research note on Tuesday, August 15th. ValuEngine cut SpartanNash from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. Finally, Jefferies Group set a $25.00 target price on SpartanNash and gave the stock a “hold” rating in a research note on Monday, September 11th. Two analysts have rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $23.20.

The company has a debt-to-equity ratio of 0.92, a current ratio of 1.81 and a quick ratio of 0.74. The company has a market capitalization of $973.10, a P/E ratio of 11.86, a PEG ratio of 4.16 and a beta of 1.02.

SpartanNash (NASDAQ:SPTN) last issued its quarterly earnings results on Wednesday, November 8th. The company reported $0.54 earnings per share for the quarter, hitting the consensus estimate of $0.54. The company had revenue of $1.91 billion during the quarter, compared to analysts’ expectations of $1.90 billion. SpartanNash had a negative net margin of 0.93% and a positive return on equity of 10.35%. The business’s quarterly revenue was up 6.1% on a year-over-year basis. During the same period last year, the business earned $0.53 EPS. analysts anticipate that SpartanNash Company will post 2.11 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, December 8th will be paid a dividend of $0.165 per share. The ex-dividend date is Thursday, December 7th. This represents a $0.66 annualized dividend and a dividend yield of 2.55%. SpartanNash’s dividend payout ratio is currently -32.67%.

SpartanNash declared that its Board of Directors has authorized a stock repurchase program on Thursday, November 16th that allows the company to buyback $50.00 million in shares. This buyback authorization allows the company to purchase shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s leadership believes its shares are undervalued.

Several institutional investors and hedge funds have recently modified their holdings of the company. Suntrust Banks Inc. grew its stake in shares of SpartanNash by 1.8% during the 2nd quarter. Suntrust Banks Inc. now owns 10,259 shares of the company’s stock worth $266,000 after acquiring an additional 183 shares in the last quarter. Arizona State Retirement System grew its stake in shares of SpartanNash by 1.0% during the 2nd quarter. Arizona State Retirement System now owns 19,760 shares of the company’s stock worth $513,000 after acquiring an additional 200 shares in the last quarter. Louisiana State Employees Retirement System grew its stake in shares of SpartanNash by 1.3% during the 2nd quarter. Louisiana State Employees Retirement System now owns 15,460 shares of the company’s stock worth $401,000 after acquiring an additional 200 shares in the last quarter. Comerica Bank grew its stake in shares of SpartanNash by 0.3% in the second quarter. Comerica Bank now owns 81,958 shares of the company’s stock valued at $2,180,000 after buying an additional 208 shares in the last quarter. Finally, Public Employees Retirement System of Ohio grew its stake in shares of SpartanNash by 1.4% in the second quarter. Public Employees Retirement System of Ohio now owns 18,383 shares of the company’s stock valued at $477,000 after buying an additional 245 shares in the last quarter. 86.09% of the stock is owned by institutional investors.

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SpartanNash Company Profile

SpartanNash Company is a multi-regional grocery distributor and grocery retailer. The Company’s core businesses include distributing grocery products to independent grocery retailers (independent retailers), select national retailers, its corporate owned retail stores, and the United States military commissaries.

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