Zacks: Analysts Expect SpartanNash Co (NASDAQ:SPTN) Will Announce Quarterly Sales of $1.99 Billion

Equities analysts predict that SpartanNash Co (NASDAQ:SPTN) will report $1.99 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have made estimates for SpartanNash’s earnings, with estimates ranging from $1.98 billion to $2.00 billion. SpartanNash reported sales of $1.89 billion in the same quarter last year, which would suggest a positive year-over-year growth rate of 5.3%. The company is expected to issue its next earnings report on Wednesday, November 6th.

According to Zacks, analysts expect that SpartanNash will report full-year sales of $8.53 billion for the current year, with estimates ranging from $8.51 billion to $8.55 billion. For the next financial year, analysts forecast that the company will report sales of $8.84 billion, with estimates ranging from $8.83 billion to $8.85 billion. Zacks’ sales calculations are an average based on a survey of sell-side analysts that that provide coverage for SpartanNash.

SpartanNash (NASDAQ:SPTN) last released its quarterly earnings results on Wednesday, August 14th. The company reported $0.34 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.34. The firm had revenue of $2 billion for the quarter, compared to analyst estimates of $2.01 billion. SpartanNash had a net margin of 0.05% and a return on equity of 7.07%. The business’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.56 EPS.

A number of analysts have issued reports on SPTN shares. Barclays cut their target price on SpartanNash from $13.00 to $8.00 and set an “underweight” rating on the stock in a research report on Tuesday, August 13th. Pivotal Research raised SpartanNash from a “sell” rating to a “hold” rating and cut their target price for the company from $10.00 to $9.00 in a research report on Thursday, August 15th. TheStreet lowered SpartanNash from a “c” rating to a “d+” rating in a research report on Wednesday, August 14th. BMO Capital Markets lowered SpartanNash from a “market perform” rating to an “underperform” rating and cut their target price for the company from $13.00 to $8.00 in a research report on Friday, August 2nd. Finally, Zacks Investment Research raised SpartanNash from a “sell” rating to a “hold” rating in a research report on Thursday, August 22nd. Three equities research analysts have rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $13.00.

NASDAQ SPTN traded up $0.60 on Friday, reaching $12.87. The stock had a trading volume of 18,533 shares, compared to its average volume of 386,391. The firm has a market capitalization of $459.94 million, a price-to-earnings ratio of 6.84, a P/E/G ratio of 1.40 and a beta of 1.39. The company has a quick ratio of 0.75, a current ratio of 1.76 and a debt-to-equity ratio of 1.40. SpartanNash has a 12-month low of $8.82 and a 12-month high of $23.00. The stock has a fifty day moving average price of $11.70 and a two-hundred day moving average price of $12.66.

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 5.91%. The ex-dividend date was Friday, September 13th. SpartanNash’s dividend payout ratio is currently 40.64%.

Institutional investors have recently bought and sold shares of the company. Advisory Services Network LLC purchased a new stake in shares of SpartanNash during the second quarter worth $35,000. Glen Harbor Capital Management LLC grew its stake in shares of SpartanNash by 14.3% during the second quarter. Glen Harbor Capital Management LLC now owns 8,736 shares of the company’s stock worth $102,000 after purchasing an additional 1,092 shares in the last quarter. Elkfork Partners LLC grew its stake in shares of SpartanNash by 14.3% during the second quarter. Elkfork Partners LLC now owns 10,608 shares of the company’s stock worth $124,000 after purchasing an additional 1,326 shares in the last quarter. Bowling Portfolio Management LLC acquired a new position in shares of SpartanNash during the second quarter worth $135,000. Finally, Alberta Investment Management Corp acquired a new position in shares of SpartanNash during the second quarter worth $155,000. 83.66% of the stock is currently owned by institutional investors and hedge funds.

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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