SpartanNash Co (NASDAQ:SPTN) – Analysts at Jefferies Group decreased their Q1 2018 EPS estimates for SpartanNash in a research note issued on Monday. Jefferies Group analyst C. Mandeville now expects that the company will post earnings per share of $0.53 for the quarter, down from their prior estimate of $0.58. Jefferies Group also issued estimates for SpartanNash’s Q2 2018 earnings at $0.59 EPS, Q3 2018 earnings at $0.59 EPS, Q4 2018 earnings at $0.53 EPS, FY2018 earnings at $2.24 EPS and FY2019 earnings at $2.39 EPS.
Other analysts also recently issued research reports about the stock. TheStreet downgraded shares of SpartanNash from a “b-” rating to a “c-” rating in a report on Wednesday, November 8th. Barclays dropped their price target on shares of SpartanNash from $28.00 to $22.00 and set an “equal weight” rating on the stock in a report on Friday, November 10th. Zacks Investment Research raised shares of SpartanNash from a “sell” rating to a “hold” rating in a report on Saturday. Deutsche Bank dropped their price target on shares of SpartanNash from $24.00 to $21.00 and set a “hold” rating on the stock in a report on Thursday, February 22nd. Finally, ValuEngine downgraded shares of SpartanNash from a “buy” rating to a “hold” rating in a report on Sunday, December 31st. Two research analysts have rated the stock with a sell rating and seven have given a hold rating to the stock. The company has an average rating of “Hold” and a consensus price target of $22.60.
SpartanNash (NASDAQ:SPTN) last announced its quarterly earnings results on Wednesday, February 21st. The company reported $0.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.01). The company had revenue of $1.92 billion for the quarter, compared to analysts’ expectations of $1.94 billion. SpartanNash had a negative net margin of 0.65% and a positive return on equity of 10.08%. The business’s revenue was up 5.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.53 EPS.
Several institutional investors and hedge funds have recently bought and sold shares of SPTN. Gotham Asset Management LLC purchased a new position in shares of SpartanNash in the fourth quarter worth approximately $246,000. Ladenburg Thalmann Financial Services Inc. boosted its holdings in shares of SpartanNash by 754.3% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 9,474 shares of the company’s stock worth $253,000 after buying an additional 8,365 shares during the last quarter. Teacher Retirement System of Texas purchased a new position in shares of SpartanNash in the fourth quarter worth approximately $334,000. Assetmark Inc. boosted its holdings in shares of SpartanNash by 30.4% in the third quarter. Assetmark Inc. now owns 13,276 shares of the company’s stock worth $350,000 after buying an additional 3,094 shares during the last quarter. Finally, Crossmark Global Holdings Inc. purchased a new position in shares of SpartanNash in the third quarter worth approximately $368,000. 86.69% of the stock is currently owned by institutional investors.
SpartanNash declared that its board has initiated a share repurchase program on Thursday, November 16th that allows the company to repurchase $50.00 million in outstanding shares. This repurchase authorization allows the company to buy shares of its stock through open market purchases. Shares repurchase programs are typically an indication that the company’s management believes its stock is undervalued.
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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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