SpartanNash Company (NASDAQ:SPTN) – Stock analysts at Northcoast Research cut their Q3 2017 earnings per share (EPS) estimates for shares of SpartanNash in a research report issued to clients and investors on Monday. Northcoast Research analyst C. Cerankosky now forecasts that the company will post earnings per share of $0.54 for the quarter, down from their prior estimate of $0.61. Northcoast Research also issued estimates for SpartanNash’s Q4 2017 earnings at $0.58 EPS, FY2017 earnings at $2.27 EPS and FY2018 earnings at $2.50 EPS.
SpartanNash (NASDAQ:SPTN) last issued its quarterly earnings data on Wednesday, August 16th. The company reported $0.60 earnings per share for the quarter, hitting the consensus estimate of $0.60. The business had revenue of $1.89 billion during the quarter, compared to the consensus estimate of $1.96 billion. SpartanNash had a net margin of 0.83% and a return on equity of 10.00%. The company’s revenue was up 3.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.58 EPS.
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A number of other analysts have also recently issued reports on the company. Pivotal Research cut SpartanNash from a “hold” rating to a “sell” rating and lowered their price objective for the company from $35.00 to $20.00 in a research report on Monday, June 26th. Zacks Investment Research upgraded SpartanNash from a “sell” rating to a “hold” rating in a research report on Wednesday, April 26th. Jefferies Group LLC restated a “hold” rating and set a $30.00 price objective (down from $35.00) on shares of SpartanNash in a research report on Friday, June 23rd. ValuEngine upgraded SpartanNash from a “hold” rating to a “buy” rating in a research report on Monday, July 17th. Finally, BidaskClub cut SpartanNash from a “hold” rating to a “sell” rating in a research report on Monday, June 19th. Three research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $28.40.
Shares of SpartanNash (SPTN) opened at 24.84 on Tuesday. The stock’s 50 day moving average is $26.33 and its 200 day moving average is $31.82. SpartanNash has a 12 month low of $23.70 and a 12 month high of $40.38. The stock has a market cap of $939.15 million, a P/E ratio of 14.25 and a beta of 1.00.
In other SpartanNash news, Director M Shan Atkins sold 2,000 shares of the company’s stock in a transaction on Monday, June 19th. The stock was sold at an average price of $27.69, for a total value of $55,380.00. Following the sale, the director now directly owns 32,425 shares in the company, valued at $897,848.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 3.00% of the company’s stock.
A number of hedge funds have recently made changes to their positions in the stock. BlackRock Inc. boosted its stake in shares of SpartanNash by 21,712.5% in the first quarter. BlackRock Inc. now owns 4,785,883 shares of the company’s stock worth $167,458,000 after buying an additional 4,763,942 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of SpartanNash by 71.7% in the second quarter. Bank of New York Mellon Corp now owns 1,000,318 shares of the company’s stock worth $25,968,000 after buying an additional 417,765 shares during the period. Thrivent Financial For Lutherans boosted its stake in shares of SpartanNash by 105.1% in the second quarter. Thrivent Financial For Lutherans now owns 529,376 shares of the company’s stock worth $13,743,000 after buying an additional 271,266 shares during the period. Goldman Sachs Group Inc. boosted its stake in shares of SpartanNash by 59.9% in the first quarter. Goldman Sachs Group Inc. now owns 719,700 shares of the company’s stock worth $25,182,000 after buying an additional 269,686 shares during the period. Finally, Vanguard Group Inc. boosted its stake in shares of SpartanNash by 10.0% in the first quarter. Vanguard Group Inc. now owns 2,544,312 shares of the company’s stock worth $89,025,000 after buying an additional 230,533 shares during the period. Hedge funds and other institutional investors own 87.94% of the company’s stock.
SpartanNash Company is a multi-regional grocery distributor and grocery retailer. The Company’s core businesses include distributing grocery products to independent grocery retailers (independent retailers), select national retailers, its corporate owned retail stores, and the United States military commissaries.
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