SpartanNash (NASDAQ:SPTN) Upgraded at ValuEngine

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ValuEngine upgraded shares of SpartanNash (NASDAQ:SPTN) from a strong sell rating to a sell rating in a research report report published on Saturday morning, ValuEngine reports.

SPTN has been the topic of a number of other research reports. Zacks Investment Research raised SpartanNash from a hold rating to a strong-buy rating and set a $19.00 price objective on the stock in a report on Friday, April 24th. Barclays reiterated a hold rating and set a $20.00 target price on shares of SpartanNash in a research report on Friday, May 29th. BMO Capital Markets upgraded SpartanNash from an underperform rating to a market perform rating and boosted their target price for the stock from $10.00 to $14.00 in a research report on Wednesday, March 18th. Finally, BidaskClub upgraded SpartanNash from a hold rating to a buy rating in a research report on Wednesday, May 20th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of Hold and a consensus price target of $15.50.

NASDAQ:SPTN opened at $21.10 on Friday. The stock’s 50 day simple moving average is $19.42 and its 200-day simple moving average is $15.17. SpartanNash has a 12-month low of $8.82 and a 12-month high of $22.80. The firm has a market cap of $765.71 million, a P/E ratio of 55.53 and a beta of 1.04. The company has a current ratio of 1.54, a quick ratio of 0.78 and a debt-to-equity ratio of 1.25.

SpartanNash (NASDAQ:SPTN) last announced its quarterly earnings data on Wednesday, May 27th. The company reported $0.67 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.48 by $0.19. SpartanNash had a return on equity of 8.07% and a net margin of 0.15%. The firm had revenue of $2.86 billion for the quarter, compared to analyst estimates of $2.62 billion. During the same quarter in the prior year, the company posted $0.24 earnings per share. SpartanNash’s quarterly revenue was up 12.4% on a year-over-year basis. Research analysts forecast that SpartanNash will post 2.01 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Friday, June 12th will be given a $0.192 dividend. The ex-dividend date of this dividend is Thursday, June 11th. This represents a $0.77 annualized dividend and a dividend yield of 3.64%. SpartanNash’s dividend payout ratio is currently 70.00%.

Several large investors have recently modified their holdings of the company. State Street Corp lifted its position in shares of SpartanNash by 7.1% in the first quarter. State Street Corp now owns 1,379,627 shares of the company’s stock valued at $19,756,000 after acquiring an additional 91,744 shares in the last quarter. State of Tennessee Treasury Department lifted its position in shares of SpartanNash by 3.6% in the first quarter. State of Tennessee Treasury Department now owns 36,251 shares of the company’s stock valued at $519,000 after acquiring an additional 1,274 shares in the last quarter. Advisor Group Holdings Inc. purchased a new stake in shares of SpartanNash in the first quarter valued at $45,000. Paloma Partners Management Co lifted its position in shares of SpartanNash by 8.8% in the first quarter. Paloma Partners Management Co now owns 14,202 shares of the company’s stock valued at $203,000 after acquiring an additional 1,152 shares in the last quarter. Finally, Invesco Ltd. lifted its position in shares of SpartanNash by 16.5% in the first quarter. Invesco Ltd. now owns 885,155 shares of the company’s stock valued at $12,675,000 after acquiring an additional 125,312 shares in the last quarter. Institutional investors and hedge funds own 78.30% of the company’s stock.

SpartanNash Company Profile

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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