Brokers Issue Forecasts for Spartan Stores Inc.’s Q3 2016 Earnings (SPTN)
Spartan Stores Inc. (NASDAQ:SPTN) – Equities research analysts at Jefferies Group decreased their Q3 2016 earnings per share (EPS) estimates for Spartan Stores in a research report issued to clients and investors on Friday. Jefferies Group analyst M. Wiltamuth now forecasts that the firm will post earnings per share of $0.52 for the quarter, down from their previous forecast of $0.53. Jefferies Group currently has a “Hold” rating and a $27.00 target price on the stock. Jefferies Group also issued estimates for Spartan Stores’ FY2016 earnings at $2.14 EPS, Q1 2017 earnings at $0.57 EPS, Q2 2017 earnings at $0.61 EPS, Q3 2017 earnings at $0.55 EPS, Q4 2017 earnings at $0.53 EPS, FY2017 earnings at $2.26 EPS, FY2018 earnings at $2.39 EPS, FY2019 earnings at $2.53 EPS and FY2020 earnings at $2.53 EPS.
Spartan Stores (NASDAQ:SPTN) last announced its quarterly earnings results on Wednesday, August 17th. The company reported $0.58 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.57 by $0.01. The company earned $1.83 billion during the quarter, compared to the consensus estimate of $1.80 billion. Spartan Stores had a return on equity of 10.15% and a net margin of 0.78%. Spartan Stores’s revenue for the quarter was up 1.8% on a year-over-year basis. During the same period in the previous year, the business earned $0.53 EPS.
SPTN has been the topic of several other reports. Northcoast Research raised Spartan Stores from a “neutral” rating to a “buy” rating in a research report on Tuesday, August 23rd. Zacks Investment Research lowered Spartan Stores from a “buy” rating to a “hold” rating in a research report on Wednesday, August 3rd. Barclays PLC assumed coverage on Spartan Stores in a research report on Friday, September 23rd. They issued an “equal weight” rating and a $31.00 target price on the stock. Finally, Deutsche Bank AG set a $28.00 target price on Spartan Stores and gave the stock a “hold” rating in a research report on Thursday, August 18th. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $30.20.
Shares of Spartan Stores (NASDAQ:SPTN) opened at 28.86 on Monday. The firm’s 50-day moving average price is $30.50 and its 200-day moving average price is $29.56. The stock has a market capitalization of $1.08 billion, a P/E ratio of 18.30 and a beta of 0.87. Spartan Stores has a one year low of $17.66 and a one year high of $33.89.
The business also recently declared a quarterly dividend, which was paid on Friday, September 30th. Investors of record on Friday, September 16th were issued a $0.15 dividend. The ex-dividend date of this dividend was Wednesday, September 14th. This represents a $0.60 annualized dividend and a yield of 2.08%. Spartan Stores’s dividend payout ratio is currently 37.97%.
In related news, VP David Des Couch sold 14,092 shares of the stock in a transaction on Monday, August 1st. The stock was sold at an average price of $32.29, for a total value of $455,030.68. Following the completion of the sale, the vice president now directly owns 59,270 shares in the company, valued at approximately $1,913,828.30. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 3.30% of the stock is owned by corporate insiders.
Several hedge funds have recently made changes to their positions in SPTN. Louisiana State Employees Retirement System increased its stake in shares of Spartan Stores by 0.6% in the second quarter. Louisiana State Employees Retirement System now owns 16,560 shares of the company’s stock valued at $506,000 after buying an additional 100 shares in the last quarter. FMR LLC increased its stake in shares of Spartan Stores by 1.2% in the second quarter. FMR LLC now owns 8,454 shares of the company’s stock valued at $259,000 after buying an additional 100 shares in the last quarter. PineBridge Investments L.P. increased its stake in shares of Spartan Stores by 4.3% in the second quarter. PineBridge Investments L.P. now owns 4,753 shares of the company’s stock valued at $145,000 after buying an additional 197 shares in the last quarter. Arizona State Retirement System increased its stake in shares of Spartan Stores by 1.6% in the second quarter. Arizona State Retirement System now owns 19,460 shares of the company’s stock valued at $595,000 after buying an additional 300 shares in the last quarter. Finally, Suntrust Banks Inc. increased its stake in shares of Spartan Stores by 3.4% in the second quarter. Suntrust Banks Inc. now owns 10,356 shares of the company’s stock valued at $315,000 after buying an additional 336 shares in the last quarter. Institutional investors own 86.54% of the company’s stock.
Spartan Stores Company Profile
Spartannash Company, formerly Spartan Stores, Inc, is a multi-regional grocery distributor and grocery retailer, and a distributor of grocery products to military commissaries in the United States. The Company’s core businesses include distributing food to military commissaries and exchanges, and independent and corporate-owned retail stores located in over 40 states and the District of Columbia, Europe, Cuba, Puerto Rico, Bahrain, Egypt, Honduras, Afghanistan and Bosnia.
Receive News & Stock Ratings for Spartan Stores Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Spartan Stores Inc. and related stocks with our FREE daily email newsletter.