An issue of Supervalu Inc. (NYSE:SVU) debt fell 2.4% as a percentage of its face value during trading on Wednesday. The debt issue has a 6.75% coupon and is set to mature on June 1, 2021. The bonds in the issue are now trading at $98.13 and were trading at $100.38 one week ago. Price moves in a company’s debt in credit markets sometimes anticipate parallel moves in its share price.
SVU has been the topic of a number of recent analyst reports. Goldman Sachs Group reissued a “sell” rating and issued a $14.00 price objective on shares of Supervalu in a research report on Tuesday, November 14th. Pivotal Research set a $39.00 target price on shares of Supervalu and gave the company a “buy” rating in a research report on Tuesday, October 31st. Wells Fargo & Co assumed coverage on shares of Supervalu in a research report on Friday, November 3rd. They issued a “market perform” rating and a $16.00 target price on the stock. TheStreet downgraded shares of Supervalu from a “c” rating to a “d+” rating in a research report on Wednesday, October 18th. Finally, Northcoast Research reaffirmed a “neutral” rating on shares of Supervalu in a research report on Thursday, October 19th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the company. Supervalu has an average rating of “Hold” and a consensus target price of $26.50.
Shares of Supervalu Inc. (SVU) opened at $16.94 on Thursday. The firm has a market cap of $650.64, a price-to-earnings ratio of -30.25 and a beta of 2.29. The company has a debt-to-equity ratio of 4.76, a quick ratio of 0.57 and a current ratio of 1.21. Supervalu Inc. has a 52 week low of $14.55 and a 52 week high of $32.41.
Several hedge funds have recently added to or reduced their stakes in the company. Amalgamated Bank lifted its stake in shares of Supervalu by 0.7% in the 2nd quarter. Amalgamated Bank now owns 36,224 shares of the company’s stock worth $119,000 after acquiring an additional 246 shares during the period. The Manufacturers Life Insurance Company lifted its stake in shares of Supervalu by 0.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 207,493 shares of the company’s stock worth $683,000 after acquiring an additional 1,492 shares during the period. Rhumbline Advisers lifted its stake in shares of Supervalu by 0.6% in the 2nd quarter. Rhumbline Advisers now owns 538,755 shares of the company’s stock worth $1,773,000 after acquiring an additional 3,089 shares during the period. Public Employees Retirement System of Ohio acquired a new stake in shares of Supervalu in the 3rd quarter worth $147,000. Finally, JPMorgan Chase & Co. lifted its stake in shares of Supervalu by 0.6% in the 2nd quarter. JPMorgan Chase & Co. now owns 1,140,277 shares of the company’s stock worth $3,751,000 after acquiring an additional 6,935 shares during the period. Institutional investors own 80.63% of the company’s stock.
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Supervalu Company Profile
Supervalu Inc is a wholesale distributor to independent retail customers across the United States. The Company’s segments include Wholesale and Retail. The Company offers a range of advertised brand name and private-label products, including grocery (both perishable and nonperishable), general merchandise and home, health and beauty care, and pharmacy, which are sold through Company-operated and licensed Retail stores to shoppers and through its Wholesale segment to independent retail customers.
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