SpartanNash (NASDAQ:SPTN) Lowered to “Neutral” at Northcoast Research

Northcoast Research downgraded shares of SpartanNash (NASDAQ:SPTN) from a buy rating to a neutral rating in a report released on Friday, January 5th, MarketBeat.com reports. Northcoast Research also issued estimates for SpartanNash’s FY2018 earnings at $2.24 EPS.

A number of other brokerages have also issued reports on SPTN. BidaskClub upgraded SpartanNash from a sell rating to a hold rating in a research note on Saturday, December 2nd. ValuEngine lowered SpartanNash from a buy rating to a hold rating in a research note on Sunday, December 31st. Jefferies Group set a $25.00 price target on SpartanNash and gave the stock a hold rating in a research note on Monday, September 11th. BMO Capital Markets initiated coverage on SpartanNash in a research note on Tuesday, September 12th. They issued a market perform rating and a $25.00 price target for the company. Finally, TheStreet lowered SpartanNash from a b- rating to a c- rating in a research report on Wednesday, November 8th. Two investment analysts have rated the stock with a sell rating and seven have given a hold rating to the company. The stock has an average rating of Hold and an average target price of $23.20.

Shares of SpartanNash (NASDAQ:SPTN) traded up $0.07 during mid-day trading on Friday, reaching $25.29. The company’s stock had a trading volume of 141,000 shares, compared to its average volume of 221,567. SpartanNash has a 1-year low of $18.56 and a 1-year high of $39.92. The company has a debt-to-equity ratio of 0.92, a current ratio of 1.81 and a quick ratio of 0.74. The stock has a market cap of $935.02, a price-to-earnings ratio of -12.52, a PEG ratio of 1.93 and a beta of 1.02.

SpartanNash (NASDAQ:SPTN) last issued its quarterly earnings results on Wednesday, November 8th. The company reported $0.54 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.54. SpartanNash had a positive return on equity of 10.35% and a negative net margin of 0.93%. The business had revenue of $1.91 billion during the quarter, compared to analyst estimates of $1.90 billion. During the same quarter in the prior year, the business posted $0.53 EPS. SpartanNash’s revenue for the quarter was up 6.1% compared to the same quarter last year. equities analysts anticipate that SpartanNash will post 2.11 earnings per share for the current fiscal year.

SpartanNash declared that its Board of Directors has authorized a share buyback plan on Thursday, November 16th that permits the company to buyback $50.00 million in shares. This buyback authorization permits the company to reacquire shares of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 29th. Stockholders of record on Friday, December 8th were given a dividend of $0.165 per share. The ex-dividend date was Thursday, December 7th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 2.61%. SpartanNash’s payout ratio is -32.67%.

Several large investors have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its holdings in shares of SpartanNash by 8.4% in the 2nd quarter. Vanguard Group Inc. now owns 2,757,235 shares of the company’s stock valued at $71,578,000 after acquiring an additional 212,923 shares during the last quarter. State Street Corp lifted its holdings in shares of SpartanNash by 5.6% in the 2nd quarter. State Street Corp now owns 1,065,210 shares of the company’s stock valued at $27,654,000 after acquiring an additional 56,359 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of SpartanNash by 3.2% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,032,110 shares of the company’s stock valued at $27,217,000 after acquiring an additional 31,792 shares during the last quarter. Northern Trust Corp lifted its holdings in shares of SpartanNash by 10.0% in the 2nd quarter. Northern Trust Corp now owns 797,462 shares of the company’s stock valued at $20,702,000 after acquiring an additional 72,318 shares during the last quarter. Finally, Janus Henderson Group PLC bought a new position in shares of SpartanNash in the 3rd quarter valued at about $20,161,000. 86.05% of the stock is owned by hedge funds and other institutional investors.

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SpartanNash Company Profile

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.

Analyst Recommendations for SpartanNash (NASDAQ:SPTN)

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