BidaskClub Downgrades SpartanNash (NASDAQ:SPTN) to Sell

BidaskClub cut shares of SpartanNash (NASDAQ:SPTN) from a hold rating to a sell rating in a research note released on Thursday morning, BidAskClub reports.

A number of other research analysts also recently issued reports on SPTN. BMO Capital Markets reiterated a hold rating and set a $23.00 target price on shares of SpartanNash in a research report on Friday, August 14th. Deutsche Bank upped their price objective on shares of SpartanNash from $20.00 to $21.00 and gave the company a hold rating in a report on Monday, August 17th. TheStreet upgraded SpartanNash from a c rating to a b rating in a research note on Wednesday, August 12th. Barclays reaffirmed a hold rating and set a $20.00 price target on shares of SpartanNash in a research note on Friday, May 29th. Finally, BTIG Research started coverage on SpartanNash in a report on Thursday, July 16th. They issued a neutral rating on the stock. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and one has assigned a strong buy rating to the company. SpartanNash presently has an average rating of Hold and an average price target of $20.75.

SPTN stock opened at $17.93 on Thursday. The firm has a market cap of $642.49 million, a PE ratio of 13.09 and a beta of 0.94. The company has a current ratio of 1.56, a quick ratio of 0.75 and a debt-to-equity ratio of 0.78. The stock has a 50-day moving average price of $19.95 and a 200-day moving average price of $17.95. SpartanNash has a 1-year low of $9.00 and a 1-year high of $23.94.

SpartanNash (NASDAQ:SPTN) last released its earnings results on Wednesday, August 12th. The company reported $0.73 EPS for the quarter, topping the consensus estimate of $0.62 by $0.11. SpartanNash had a return on equity of 10.02% and a net margin of 0.54%. The business had revenue of $2.18 billion during the quarter, compared to analysts’ expectations of $2.31 billion. On average, analysts forecast that SpartanNash will post 2.52 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Friday, September 11th will be given a $0.1925 dividend. The ex-dividend date is Thursday, September 10th. This represents a $0.77 annualized dividend and a yield of 4.29%. This is a boost from SpartanNash’s previous quarterly dividend of $0.19. SpartanNash’s payout ratio is currently 70.00%.

In related news, Director M Shan Atkins sold 6,000 shares of the firm’s stock in a transaction dated Monday, July 27th. The shares were sold at an average price of $22.75, for a total transaction of $136,500.00. Following the completion of the sale, the director now owns 39,112 shares in the company, valued at $889,798. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In the last 90 days, insiders have sold 15,173 shares of company stock valued at $337,410. 1.80% of the stock is owned by company insiders.

Several large investors have recently bought and sold shares of SPTN. Citizens Financial Group Inc RI bought a new position in SpartanNash during the second quarter valued at $35,000. Advisor Group Holdings Inc. bought a new position in shares of SpartanNash during the 1st quarter worth $45,000. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in SpartanNash by 55.8% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,310 shares of the company’s stock worth $47,000 after acquiring an additional 1,186 shares during the last quarter. Point72 Hong Kong Ltd raised its stake in SpartanNash by 348.6% in the 2nd quarter. Point72 Hong Kong Ltd now owns 2,813 shares of the company’s stock valued at $60,000 after acquiring an additional 2,186 shares during the period. Finally, Envestnet Asset Management Inc. bought a new stake in SpartanNash in the 1st quarter valued at about $155,000. 84.92% of the stock is currently owned by institutional investors.

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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