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 note published on Saturday morning, ValuEngine reports.

Several other equities research analysts also recently weighed in on SPTN. BMO Capital Markets upgraded SpartanNash from an underperform rating to a market perform rating and increased their price target for the stock from $10.00 to $14.00 in a report on Wednesday, March 18th. Zacks Investment Research upgraded SpartanNash from a hold rating to a strong-buy rating and set a $19.00 price target on the stock in a report on Friday, April 24th. BidaskClub upgraded SpartanNash from a hold rating to a buy rating in a report on Wednesday, May 20th. Finally, Barclays reiterated a hold rating and issued a $20.00 price target on shares of SpartanNash in a report on Friday, May 29th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, one has given a buy rating and one has given a strong buy rating to the company. SpartanNash has an average rating of Hold and a consensus price target of $15.50.

Shares of SPTN stock opened at $21.25 on Friday. SpartanNash has a 1 year low of $8.82 and a 1 year high of $22.80. The company has a debt-to-equity ratio of 1.25, a current ratio of 1.54 and a quick ratio of 0.78. The stock’s 50 day simple moving average is $19.48 and its two-hundred day simple moving average is $15.21. The company has a market cap of $759.63 million, a PE ratio of 55.92 and a beta of 1.04.

SpartanNash (NASDAQ:SPTN) last issued its quarterly earnings data on Wednesday, May 27th. The company reported $0.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.19. SpartanNash had a return on equity of 8.07% and a net margin of 0.15%. The business had revenue of $2.86 billion for the quarter, compared to the consensus estimate of $2.62 billion. During the same period in the prior year, the business posted $0.24 earnings per share. The company’s quarterly revenue was up 12.4% compared to the same quarter last year. Equities research analysts expect that SpartanNash will post 2.01 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Friday, June 12th were issued a dividend of $0.192 per share. The ex-dividend date was Thursday, June 11th. This represents a $0.77 annualized dividend and a yield of 3.61%. SpartanNash’s payout ratio is currently 70.00%.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SPTN. Assenagon Asset Management S.A. purchased a new position in SpartanNash during the 1st quarter worth $3,983,000. Panagora Asset Management Inc. increased its holdings in SpartanNash by 113.1% during the 4th quarter. Panagora Asset Management Inc. now owns 382,743 shares of the company’s stock worth $5,450,000 after purchasing an additional 203,101 shares during the period. Norges Bank purchased a new position in SpartanNash during the 4th quarter worth $2,793,000. JPMorgan Chase & Co. increased its holdings in SpartanNash by 30.1% during the 1st quarter. JPMorgan Chase & Co. now owns 753,921 shares of the company’s stock worth $10,796,000 after purchasing an additional 174,482 shares during the period. Finally, MERIAN GLOBAL INVESTORS UK Ltd purchased a new position in SpartanNash during the 1st quarter worth $2,311,000. Institutional investors own 78.30% of the company’s stock.

About SpartanNash

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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