SpartanNash (NASDAQ:SPTN) Announces Quarterly Earnings Results

SpartanNash (NASDAQ:SPTN) issued its quarterly earnings data on Thursday. The company reported $0.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.47 by $0.01, Briefing.com reports. The company had revenue of $2.25 billion during the quarter, compared to the consensus estimate of $2.24 billion. SpartanNash had a return on equity of 8.87% and a net margin of 0.48%. The firm’s revenue was down .6% compared to the same quarter last year. During the same period last year, the company earned $0.54 earnings per share. SpartanNash updated its FY24 guidance to $1.85-1.95 EPS and its FY 2024 guidance to 1.850-1.950 EPS.

SpartanNash Stock Performance

Shares of NASDAQ SPTN traded down $0.77 during mid-day trading on Friday, hitting $19.01. The company had a trading volume of 250,637 shares, compared to its average volume of 248,344. The stock’s 50-day moving average price is $21.68 and its 200-day moving average price is $20.43. The company has a current ratio of 1.62, a quick ratio of 0.80 and a debt-to-equity ratio of 0.76. SpartanNash has a 1 year low of $17.74 and a 1 year high of $24.51. The company has a market capitalization of $641.49 million, a price-to-earnings ratio of 14.42 and a beta of 0.39.

SpartanNash Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 4th. Shareholders of record on Monday, September 23rd were issued a dividend of $0.218 per share. The ex-dividend date of this dividend was Monday, September 23rd. This represents a $0.87 dividend on an annualized basis and a yield of 4.59%. SpartanNash’s payout ratio is 65.41%.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised SpartanNash from a “hold” rating to a “buy” rating in a research note on Wednesday, September 18th.

SpartanNash Company Profile

SpartanNash Company distributes and retails grocery products in the United States of America. It operates through Wholesale and Retail segments. The Wholesale segment offers grocery products and perishable food products, including 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 pharmaceutical products to independent retailers, national accounts, food service distributors, e-commerce providers, and corporate owned retail stores.