SpartanNash Co (SPTN) Receives $20.60 Average Price Target from Brokerages

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Shares of SpartanNash Co (NASDAQ:SPTN) have received a consensus recommendation of “Hold” from the nine brokerages that are currently covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $20.60.

A number of brokerages have weighed in on SPTN. ValuEngine upgraded SpartanNash from a “strong sell” rating to a “sell” rating in a research note on Thursday, November 8th. BMO Capital Markets cut SpartanNash from an “outperform” rating to a “market perform” rating and set a $23.00 price objective for the company. in a research note on Thursday, November 8th. BidaskClub upgraded SpartanNash from a “buy” rating to a “strong-buy” rating in a research note on Friday. Zacks Investment Research upgraded SpartanNash from a “sell” rating to a “hold” rating in a research note on Wednesday, January 9th. Finally, Royal Bank of Canada began coverage on SpartanNash in a research note on Thursday, January 10th. They issued an “outperform” rating and a $25.00 price objective for the company.

In related news, Director Douglas A. Hacker sold 2,499 shares of the company’s stock in a transaction on Tuesday, November 27th. The stock was sold at an average price of $18.75, for a total transaction of $46,856.25. Following the transaction, the director now owns 31,265 shares of the company’s stock, valued at $586,218.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider David M. Staples sold 11,960 shares of the company’s stock in a transaction on Wednesday, November 28th. The stock was sold at an average price of $18.39, for a total value of $219,944.40. Following the transaction, the insider now directly owns 182,706 shares in the company, valued at approximately $3,359,963.34. The disclosure for this sale can be found here. 2.40% of the stock is owned by corporate insiders.

A number of hedge funds have recently made changes to their positions in the stock. Thrivent Financial for Lutherans grew its stake in SpartanNash by 0.5% during the 4th quarter. Thrivent Financial for Lutherans now owns 113,666 shares of the company’s stock valued at $1,952,000 after purchasing an additional 564 shares in the last quarter. Municipal Employees Retirement System of Michigan acquired a new stake in SpartanNash during the 4th quarter valued at approximately $179,000. Metropolitan Life Insurance Co. NY grew its stake in SpartanNash by 369.2% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 12,879 shares of the company’s stock valued at $221,000 after purchasing an additional 10,134 shares in the last quarter. Squarepoint Ops LLC acquired a new stake in SpartanNash during the 4th quarter valued at approximately $262,000. Finally, Bank of America Corp DE grew its stake in SpartanNash by 203.4% during the 4th quarter. Bank of America Corp DE now owns 63,731 shares of the company’s stock valued at $1,094,000 after purchasing an additional 42,722 shares in the last quarter. 85.02% of the stock is currently owned by hedge funds and other institutional investors.

NASDAQ SPTN traded up $0.03 on Wednesday, reaching $21.77. The stock had a trading volume of 151,166 shares, compared to its average volume of 166,378. The company has a current ratio of 1.99, a quick ratio of 0.84 and a debt-to-equity ratio of 0.94. SpartanNash has a 12-month low of $16.08 and a 12-month high of $26.99. The stock has a market cap of $782.46 million, a P/E ratio of 10.37, a P/E/G ratio of 1.50 and a beta of 1.24.

SpartanNash Company Profile

SpartanNash Co engages in the distribution of grocery products to military commissaries in the U.S. It operates through the following segments: Military, Food Distribution, and Retail. The Military segment sells and distributes grocery products primarily to U.S. military commissaries and exchanges. The Food Distribution segment distributes groceries to independent and corporate owned grocery retailers using multi-platform sales approach.

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Analyst Recommendations for SpartanNash (NASDAQ:SPTN)

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