Zacks: Analysts Anticipate SpartanNash (NASDAQ:SPTN) Will Announce Quarterly Sales of $2.77 Billion

Brokerages expect SpartanNash (NASDAQ:SPTNGet Rating) to announce $2.77 billion in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts have made estimates for SpartanNash’s earnings, with the highest sales estimate coming in at $2.77 billion and the lowest estimate coming in at $2.76 billion. SpartanNash reported sales of $2.66 billion in the same quarter last year, which indicates a positive year over year growth rate of 4.1%. The company is expected to issue its next earnings report before the market opens on Monday, January 1st.

According to Zacks, analysts expect that SpartanNash will report full year sales of $9.06 billion for the current financial year, with estimates ranging from $8.93 billion to $9.20 billion. For the next year, analysts forecast that the business will report sales of $9.20 billion, with estimates ranging from $9.11 billion to $9.35 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that follow SpartanNash.

SpartanNash (NASDAQ:SPTNGet Rating) last issued its earnings results on Thursday, February 24th. The company reported $0.18 EPS for the quarter, missing the consensus estimate of $0.24 by ($0.06). SpartanNash had a return on equity of 7.99% and a net margin of 0.83%. The business had revenue of $2.09 billion during the quarter, compared to analyst estimates of $2.08 billion. During the same period last year, the business earned $0.43 EPS. The business’s quarterly revenue was down 6.9% on a year-over-year basis.

SPTN has been the subject of several recent research reports. Zacks Investment Research lowered SpartanNash from a “buy” rating to a “hold” rating in a report on Saturday, May 21st. CL King initiated coverage on SpartanNash in a report on Monday, March 21st. They set a “buy” rating for the company. Finally, StockNews.com lowered SpartanNash from a “buy” rating to a “hold” rating in a report on Saturday, May 14th. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $26.83.

Shares of NASDAQ:SPTN traded up $0.30 during midday trading on Friday, hitting $34.52. 210,189 shares of the stock were exchanged, compared to its average volume of 364,087. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.66 and a current ratio of 1.46. SpartanNash has a 52-week low of $18.08 and a 52-week high of $37.48. The business’s fifty day simple moving average is $33.93 and its two-hundred day simple moving average is $29.01. The company has a market capitalization of $1.25 billion, a PE ratio of 16.84 and a beta of 0.63.

The business also recently announced a quarterly dividend, which was paid on Thursday, March 31st. Shareholders of record on Thursday, March 17th were issued a dividend of $0.21 per share. This is a positive change from SpartanNash’s previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a yield of 2.43%. The ex-dividend date of this dividend was Wednesday, March 16th. SpartanNash’s dividend payout ratio (DPR) is 40.98%.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Barclays PLC raised its holdings in SpartanNash by 49.5% during the third quarter. Barclays PLC now owns 74,198 shares of the company’s stock valued at $1,625,000 after buying an additional 24,558 shares in the last quarter. Geode Capital Management LLC raised its holdings in SpartanNash by 2.7% during the third quarter. Geode Capital Management LLC now owns 626,830 shares of the company’s stock valued at $13,727,000 after buying an additional 16,428 shares in the last quarter. Great Lakes Advisors LLC raised its holdings in SpartanNash by 6.5% during the fourth quarter. Great Lakes Advisors LLC now owns 21,566 shares of the company’s stock valued at $556,000 after buying an additional 1,309 shares in the last quarter. Trexquant Investment LP bought a new position in SpartanNash during the third quarter valued at about $492,000. Finally, BNP Paribas Arbitrage SA grew its position in shares of SpartanNash by 71.1% in the third quarter. BNP Paribas Arbitrage SA now owns 39,386 shares of the company’s stock valued at $863,000 after purchasing an additional 16,370 shares during the last quarter. Institutional investors own 79.36% of the company’s stock.

About SpartanNash (Get Rating)

SpartanNash Company distributes and retails grocery products. It operates in three segments: Food Distribution, Military, and Retail. The Food Distribution segment offers approximately 65,000 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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