Spartan Stores Inc. (SPTN) Plans Quarterly Dividend of $0.15
Spartan Stores Inc. (NASDAQ:SPTN) declared a quarterly dividend on Tuesday, November 22nd. Investors of record on Friday, December 9th will be given a dividend of 0.15 per share on Friday, December 30th. This represents a $0.60 dividend on an annualized basis and a yield of 1.61%. The ex-dividend date of this dividend is Wednesday, December 7th.
Spartan Stores (NASDAQ:SPTN) traded up 0.78% during trading on Tuesday, reaching $37.31. 195,342 shares of the company were exchanged. The firm’s 50-day moving average is $30.22 and its 200 day moving average is $30.04. The company has a market capitalization of $1.40 billion, a P/E ratio of 23.17 and a beta of 0.87. Spartan Stores has a one year low of $17.66 and a one year high of $37.81.
Spartan Stores (NASDAQ:SPTN) last posted its earnings results on Wednesday, November 9th. The company reported $0.53 earnings per share for the quarter, hitting the consensus estimate of $0.53. The firm earned $1.80 billion during the quarter, compared to the consensus estimate of $1.81 billion. Spartan Stores had a net margin of 0.79% and a return on equity of 10.21%. The company’s revenue was up 1.4% on a year-over-year basis. During the same quarter last year, the company earned $0.49 earnings per share. On average, analysts anticipate that Spartan Stores will post $2.13 EPS for the current fiscal year.
Several research firms have recently weighed in on SPTN. Zacks Investment Research upgraded shares of Spartan Stores from a “hold” rating to a “buy” rating and set a $35.00 target price for the company in a research note on Saturday, August 20th. Jefferies Group set a $33.00 price objective on shares of Spartan Stores and gave the company a “hold” rating in a research report on Wednesday, July 27th. Northcoast Research upgraded shares of Spartan Stores from a “neutral” rating to a “buy” rating in a research report on Tuesday, August 23rd. Deutsche Bank AG set a $28.00 price objective on shares of Spartan Stores and gave the company a “hold” rating in a research report on Thursday, August 18th. Finally, Barclays PLC started coverage on shares of Spartan Stores in a research report on Friday, September 23rd. They issued an “equal weight” rating and a $31.00 price objective for the company. Five research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Spartan Stores has a consensus rating of “Hold” and an average price target of $29.80.
Large investors have recently made changes to their positions in the stock. Profund Advisors LLC raised its stake in shares of Spartan Stores by 4.8% in the second quarter. Profund Advisors LLC now owns 12,042 shares of the company’s stock valued at $368,000 after buying an additional 556 shares during the last quarter. Algert Global LLC acquired a new position in Spartan Stores during the second quarter valued at approximately $383,000. WBI Investments Inc. acquired a new position in Spartan Stores during the second quarter valued at approximately $1,682,000. Teachers Advisors Inc. increased its position in Spartan Stores by 2.3% in the second quarter. Teachers Advisors Inc. now owns 63,603 shares of the company’s stock valued at $1,945,000 after buying an additional 1,432 shares during the period. Finally, FMR LLC increased its position in 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 during the period. Institutional investors and hedge funds own 87.69% 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.
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