Supervalu Inc. (SVU) Upgraded to Hold at Zacks Investment Research
Supervalu Inc. (NYSE:SVU) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Monday.
According to Zacks, “Estimates have been revised upward since the last seven days for SUPERVALU. However, the company started the fiscal 2017 with a soft note with lower than expected earnings and sales due to declining comps and downward pressure on its margins. The company continues to face competitive pressure from other traditional grocers. Also, headwinds like food cost deflation and pharmacy margin pressure are affecting the core business. Hence, the company’s decision to spin off its Save-A-Lot stores into a separate publicly traded company is a positive.”
Several other analysts have also weighed in on SVU. Morgan Stanley reaffirmed a “hold” rating and set a $5.50 price objective on shares of Supervalu in a report on Friday, June 10th. Goldman Sachs Group Inc. reissued a “neutral” rating and set a $5.00 price target on shares of Supervalu in a research note on Tuesday, July 26th. Telsey Advisory Group decreased their price target on shares of Supervalu from $6.00 to $5.00 and set a “market perform” rating on the stock in a research note on Thursday, July 28th. Royal Bank Of Canada reissued a “sector perform” rating and set a $7.00 price target on shares of Supervalu in a research note on Thursday, July 28th. Finally, RBC Capital Markets reissued a “sector perform” rating and set a $6.00 price target (down from $7.00) on shares of Supervalu in a research note on Friday, September 9th. Eight analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $5.97.
Shares of Supervalu (NYSE:SVU) traded up 0.40% during mid-day trading on Monday, reaching $5.01. 1,256,613 shares of the company’s stock traded hands. The company’s 50 day moving average is $5.08 and its 200-day moving average is $5.04. Supervalu has a 52 week low of $3.94 and a 52 week high of $7.84. The firm has a market cap of $1.33 billion, a price-to-earnings ratio of 8.41 and a beta of 1.92.
Supervalu (NYSE:SVU) last posted its quarterly earnings data on Wednesday, July 27th. The company reported $0.19 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.22 by $0.03. The firm had revenue of $5.20 billion for the quarter, compared to analyst estimates of $5.30 billion. Supervalu had a negative return on equity of 43.67% and a net margin of 0.94%. The business’s quarterly revenue was down 3.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.23 EPS. Equities analysts expect that Supervalu will post $0.63 earnings per share for the current fiscal year.
A number of institutional investors have recently made changes to their positions in SVU. Mitsubishi UFJ Trust & Banking Corp boosted its position in shares of Supervalu by 6.9% in the second quarter. Mitsubishi UFJ Trust & Banking Corp now owns 21,481 shares of the company’s stock worth $101,000 after buying an additional 1,387 shares in the last quarter. Oakbrook Investments LLC boosted its position in shares of Supervalu by 6.9% in the second quarter. Oakbrook Investments LLC now owns 21,700 shares of the company’s stock worth $102,000 after buying an additional 1,400 shares in the last quarter. KCG Holdings Inc. boosted its position in shares of Supervalu by 21.9% in the second quarter. KCG Holdings Inc. now owns 23,493 shares of the company’s stock worth $111,000 after buying an additional 4,227 shares in the last quarter. Commonwealth Equity Services Inc boosted its position in shares of Supervalu by 30.4% in the second quarter. Commonwealth Equity Services Inc now owns 23,934 shares of the company’s stock worth $113,000 after buying an additional 5,576 shares in the last quarter. Finally, Acrospire Investment Management LLC purchased a new position in shares of Supervalu during the first quarter worth $140,000. 82.19% of the stock is currently owned by hedge funds and other institutional investors.
SUPERVALU INC. is a wholesale distributor to independent retail customers across the United States. The Company operates through three segments: Wholesale, Save-A-Lot and Retail. The Wholesale segment spans approximately 40 states and serves as a primary grocery supplier to approximately 1,800 stores of independent retail customers, in addition to its own Retail stores, as well as serving as a secondary grocery supplier to approximately 230 stores of independent retail customers.
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