SpartanNash Co (NASDAQ:SPTN) – Equities researchers at Jefferies Financial Group lowered their Q1 2019 earnings per share (EPS) estimates for shares of SpartanNash in a research report issued on Tuesday, May 14th. Jefferies Financial Group analyst C. Mandeville now anticipates that the company will earn $0.23 per share for the quarter, down from their prior forecast of $0.34. Jefferies Financial Group also issued estimates for SpartanNash’s Q2 2019 earnings at $0.37 EPS, Q3 2019 earnings at $0.40 EPS, Q4 2019 earnings at $0.30 EPS, Q1 2020 earnings at $0.27 EPS, Q2 2020 earnings at $0.40 EPS, Q3 2020 earnings at $0.41 EPS and Q4 2020 earnings at $0.37 EPS.
Several other research firms also recently issued reports on SPTN. BidaskClub upgraded shares of SpartanNash from a “buy” rating to a “strong-buy” rating in a report on Friday, February 15th. Pivotal Research reiterated a “sell” rating and issued a $12.00 target price (down previously from $14.00) on shares of SpartanNash in a research report on Thursday, February 21st. Barclays lowered SpartanNash from an “equal weight” rating to an “underweight” rating in a research report on Tuesday, March 12th. ValuEngine lowered SpartanNash from a “hold” rating to a “sell” rating in a research report on Wednesday, March 6th. Finally, Zacks Investment Research lowered SpartanNash from a “hold” rating to a “sell” rating in a research report on Tuesday, May 7th. Four analysts have rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the stock. SpartanNash presently has a consensus rating of “Hold” and an average price target of $21.33.
SpartanNash (NASDAQ:SPTN) last posted its quarterly earnings data on Wednesday, February 20th. The company reported $0.32 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.39 by ($0.07). SpartanNash had a net margin of 0.42% and a return on equity of 9.31%. The company had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.93 billion. During the same quarter last year, the company earned $0.41 EPS. The business’s revenue was up .6% compared to the same quarter last year.
In other SpartanNash news, Director Yvonne R. Jackson sold 1,800 shares of the company’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $18.33, for a total value of $32,994.00. Following the sale, the director now owns 33,081 shares in the company, valued at approximately $606,374.73. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Elizabeth A. Nickels sold 4,676 shares of the company’s stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $17.45, for a total value of $81,596.20. Following the completion of the sale, the director now owns 42,493 shares in the company, valued at approximately $741,502.85. The disclosure for this sale can be found here. In the last 90 days, insiders sold 11,152 shares of company stock worth $188,845. Insiders own 2.20% of the company’s stock.
Several large investors have recently made changes to their positions in SPTN. Bank of New York Mellon Corp lifted its position in shares of SpartanNash by 1.2% during the 3rd quarter. Bank of New York Mellon Corp now owns 867,675 shares of the company’s stock valued at $17,406,000 after buying an additional 10,490 shares in the last quarter. MetLife Investment Advisors LLC lifted its position in shares of SpartanNash by 59.9% during the 3rd quarter. MetLife Investment Advisors LLC now owns 27,051 shares of the company’s stock valued at $543,000 after buying an additional 10,134 shares in the last quarter. AQR Capital Management LLC purchased a new position in shares of SpartanNash during the 3rd quarter valued at approximately $1,331,000. Legal & General Group Plc lifted its position in shares of SpartanNash by 5.5% during the 3rd quarter. Legal & General Group Plc now owns 106,454 shares of the company’s stock valued at $2,136,000 after buying an additional 5,515 shares in the last quarter. Finally, Morgan Stanley lifted its position in shares of SpartanNash by 33.1% during the 3rd quarter. Morgan Stanley now owns 148,304 shares of the company’s stock valued at $2,975,000 after buying an additional 36,854 shares in the last quarter. Hedge funds and other institutional investors own 86.87% of the company’s stock.
SpartanNash Company distributes and retails grocery products. It operates in three segments: Food Distribution, Military, and Retail. The Food Distribution segment offers approximately 60,000 stock-keeping units, such as dry groceries, produce, dairy products, meat, delicatessen items, bakery goods, frozen food, seafood, floral products, general merchandise, beverages, tobacco products, health and beauty care, and pharmacy products to independent retailers, national retailers, food service distributors, e-commerce providers, and corporate owned retail stores.
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