SpartanNash (SPTN) Cut to Underweight at Barclays

Barclays lowered shares of SpartanNash (NASDAQ:SPTN) from an equal weight rating to an underweight rating in a research report report published on Tuesday morning, The Fly reports.

Other equities analysts have also issued reports about the stock. BidaskClub lowered shares of SpartanNash from a strong-buy rating to a buy rating in a research report on Monday, February 4th. Northcoast Research upgraded shares of SpartanNash from a neutral rating to a buy rating in a research report on Thursday, November 15th. Zacks Investment Research upgraded shares of SpartanNash from a sell rating to a hold rating in a research report on Wednesday, January 9th. ValuEngine upgraded shares of SpartanNash from a sell rating to a hold rating in a research report on Tuesday, January 15th. Finally, Royal Bank of Canada initiated coverage on shares of SpartanNash in a research report on Thursday, January 10th. They issued an outperform rating and a $25.00 price objective on the stock. Three equities research analysts have rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company’s stock. SpartanNash presently has an average rating of Hold and an average price target of $21.33.

NASDAQ:SPTN opened at $16.17 on Tuesday. SpartanNash has a 1-year low of $16.08 and a 1-year high of $26.99. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.94 and a current ratio of 2.10. The firm has a market capitalization of $598.24 million, a P/E ratio of 8.65, a PEG ratio of 1.88 and a beta of 1.23.



SpartanNash (NASDAQ:SPTN) last posted its quarterly earnings data on Wednesday, February 20th. The company reported $0.32 earnings per share for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.07). SpartanNash had a net margin of 0.42% and a return on equity of 9.31%. The firm had revenue of $1.90 billion during the quarter, compared to analysts’ expectations of $1.93 billion. During the same quarter last year, the business earned $0.41 earnings per share. The business’s quarterly revenue was up .6% on a year-over-year basis. Analysts forecast that SpartanNash will post 1.77 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, March 29th. Shareholders of record on Friday, March 15th will be given a dividend of $0.19 per share. This is a positive change from SpartanNash’s previous quarterly dividend of $0.18. This represents a $0.76 annualized dividend and a dividend yield of 4.70%. The ex-dividend date of this dividend is Thursday, March 14th. SpartanNash’s payout ratio is presently 38.50%.

In other news, Director Yvonne R. Jackson sold 1,800 shares of SpartanNash stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $18.33, for a total transaction of $32,994.00. Following the completion of the transaction, the director now owns 33,081 shares of the company’s stock, valued at approximately $606,374.73. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Elizabeth A. Nickels sold 4,676 shares of SpartanNash stock in a transaction 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 transaction, the director now directly owns 42,493 shares of the company’s stock, valued at approximately $741,502.85. The disclosure for this sale can be found here. Insiders own 2.40% of the company’s stock.

Large investors have recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. raised its stake in shares of SpartanNash by 77.2% during the 4th quarter. PNC Financial Services Group Inc. now owns 1,588 shares of the company’s stock worth $27,000 after buying an additional 692 shares during the last quarter. FNY Investment Advisers LLC acquired a new position in SpartanNash in the 4th quarter valued at about $37,000. Quantamental Technologies LLC acquired a new position in SpartanNash in the 4th quarter valued at about $49,000. Advisor Group Inc. raised its stake in SpartanNash by 28.4% in the 4th quarter. Advisor Group Inc. now owns 3,213 shares of the company’s stock valued at $55,000 after purchasing an additional 711 shares during the last quarter. Finally, Bessemer Group Inc. acquired a new position in SpartanNash in the 3rd quarter valued at about $102,000. 84.41% of the stock is owned by institutional investors and hedge funds.

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 retail locations, food service distributors, and corporate-owned retail stores.

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Analyst Recommendations for SpartanNash (NASDAQ:SPTN)

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