SpartanNash (SPTN) Downgraded by ValuEngine

ValuEngine downgraded shares of SpartanNash (NASDAQ:SPTN) from a buy rating to a hold rating in a research report released on Sunday.

Other analysts have also recently issued research reports about the stock. Barclays dropped their price target on shares of SpartanNash from $28.00 to $22.00 and set an equal weight rating for the company in a research note on Friday, November 10th. BidaskClub raised shares of SpartanNash from a sell rating to a hold rating in a research note on Saturday, December 2nd. BMO Capital Markets assumed coverage on shares of SpartanNash in a research note on Tuesday, September 12th. They issued a market perform rating and a $25.00 price target for the company. Pivotal Research reissued a sell rating and issued a $18.00 price target on shares of SpartanNash in a research note on Wednesday, November 8th. Finally, Jefferies Group reissued a hold rating and issued a $25.00 price target on shares of SpartanNash in a research note on Monday, October 16th. Two research analysts have rated the stock with a sell rating and six have given a hold rating to the company’s stock. SpartanNash currently has a consensus rating of Hold and an average target price of $23.20.

Shares of SpartanNash (NASDAQ:SPTN) opened at $27.37 on Friday. SpartanNash has a one year low of $18.56 and a one year high of $40.38. The stock has a market cap of $986.41, a PE ratio of -13.55, a P/E/G ratio of 4.03 and a beta of 1.02. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.74 and a current ratio of 1.81.

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

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 29th. Investors of record on Friday, December 8th were given a dividend of $0.165 per share. The ex-dividend date was Thursday, December 7th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 2.41%. SpartanNash’s payout ratio is currently -32.67%.

SpartanNash declared that its board has authorized a share buyback program on Thursday, November 16th that authorizes the company to buyback $50.00 million in shares. This buyback authorization authorizes the company to buy shares of its stock through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its stock is undervalued.

Several large investors have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its position in shares of SpartanNash by 8.4% during the 2nd quarter. Vanguard Group Inc. now owns 2,757,235 shares of the company’s stock worth $71,578,000 after purchasing an additional 212,923 shares during the period. State Street Corp boosted its position in shares of SpartanNash by 5.6% during the 2nd quarter. State Street Corp now owns 1,065,210 shares of the company’s stock worth $27,654,000 after purchasing an additional 56,359 shares during the period. Bank of New York Mellon Corp boosted its position in shares of SpartanNash by 3.2% during the 3rd quarter. Bank of New York Mellon Corp now owns 1,032,110 shares of the company’s stock worth $27,217,000 after purchasing an additional 31,792 shares during the period. Northern Trust Corp boosted its position in shares of SpartanNash by 10.0% during the 2nd quarter. Northern Trust Corp now owns 797,462 shares of the company’s stock worth $20,702,000 after purchasing an additional 72,318 shares during the period. Finally, Janus Henderson Group PLC purchased a new position in shares of SpartanNash during the 3rd quarter worth approximately $20,161,000. 86.05% of the stock is owned by hedge funds and other institutional investors.

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About SpartanNash

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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for SpartanNash (NASDAQ:SPTN)

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