SpartanNash (NASDAQ:SPTN) Posts Earnings Results

SpartanNash (NASDAQ:SPTN) issued its quarterly earnings results on Thursday. The company reported $0.59 earnings per share for the quarter, topping analysts’ consensus estimates of $0.56 by $0.03, Briefing.com reports. SpartanNash had a return on equity of 9.22% and a net margin of 0.56%. The company had revenue of $2.23 billion for the quarter, compared to analyst estimates of $2.27 billion. During the same quarter in the prior year, the company posted $0.65 EPS. The business’s revenue for the quarter was down 3.5% compared to the same quarter last year. SpartanNash updated its FY 2024 guidance to 1.850-2.100 EPS and its FY24 guidance to $1.85-2.10 EPS.

SpartanNash Stock Performance

Shares of SPTN stock opened at $21.17 on Friday. The company has a current ratio of 1.75, a quick ratio of 0.84 and a debt-to-equity ratio of 0.78. The company has a market cap of $717.45 million, a PE ratio of 13.66 and a beta of 0.41. The company’s fifty day simple moving average is $19.35 and its 200-day simple moving average is $19.94. SpartanNash has a 52 week low of $17.74 and a 52 week high of $24.51.

SpartanNash Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 14th were paid a dividend of $0.218 per share. This is an increase from SpartanNash’s previous quarterly dividend of $0.22. This represents a $0.87 annualized dividend and a yield of 4.12%. The ex-dividend date of this dividend was Friday, June 14th. SpartanNash’s payout ratio is currently 56.13%.

Analysts Set New Price Targets

A number of analysts have recently commented on SPTN shares. StockNews.com upgraded SpartanNash from a “hold” rating to a “buy” rating in a report on Friday. BMO Capital Markets dropped their price target on SpartanNash from $22.00 to $20.00 and set a “market perform” rating for the company in a research note on Friday, May 31st.

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.