SpartanNash Company (SPTN) Expected to Announce Quarterly Sales of $1.97 Billion
Brokerages expect that SpartanNash Company (NASDAQ:SPTN) will announce sales of $1.97 billion for the current fiscal quarter, Zacks Investment Research reports. Two analysts have made estimates for SpartanNash Company’s earnings, with the highest sales estimate coming in at $1.99 billion and the lowest estimate coming in at $1.96 billion. SpartanNash Company reported sales of $1.83 billion during the same quarter last year, which would suggest a positive year over year growth rate of 7.7%. The company is scheduled to issue its next earnings report on Wednesday, August 16th.
On average, analysts expect that SpartanNash Company will report full-year sales of $1.97 billion for the current year, with estimates ranging from $8.26 billion to $8.31 billion. For the next year, analysts anticipate that the company will report sales of $8.42 billion per share, with estimates ranging from $8.38 billion to $8.46 billion. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that follow SpartanNash Company.
SpartanNash Company (NASDAQ:SPTN) last released its quarterly earnings results on Wednesday, May 24th. The company reported $0.55 EPS for the quarter, beating analysts’ consensus estimates of $0.54 by $0.01. SpartanNash Company had a return on equity of 10.03% and a net margin of 0.79%. The company had revenue of $2.40 billion during the quarter, compared to analysts’ expectations of $2.46 billion. During the same period last year, the business posted $0.54 earnings per share. The firm’s revenue was up 5.4% compared to the same quarter last year.
A number of research firms recently weighed in on SPTN. Zacks Investment Research cut SpartanNash Company from a “hold” rating to a “sell” rating in a report on Tuesday, March 28th. BidaskClub cut SpartanNash Company from a “hold” rating to a “sell” rating in a report on Monday, June 19th. ValuEngine cut SpartanNash Company from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Jefferies Group LLC set a $35.00 price target on SpartanNash Company and gave the stock a “hold” rating in a report on Wednesday, June 14th. Finally, Barclays PLC restated an “equal weight” rating and issued a $28.00 price target (down previously from $36.00) on shares of SpartanNash Company in a report on Friday. Three investment analysts have rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $29.40.
SpartanNash Company (NASDAQ SPTN) traded down 0.42% during midday trading on Thursday, reaching $26.04. The company’s stock had a trading volume of 202,424 shares. The firm has a market capitalization of $985.48 million, a PE ratio of 15.78 and a beta of 0.99. SpartanNash Company has a 1-year low of $24.81 and a 1-year high of $40.38. The stock’s 50-day moving average price is $30.84 and its 200 day moving average price is $35.21.
The business also recently announced a quarterly dividend, which was paid on Friday, June 30th. Investors of record on Friday, June 16th were paid a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a yield of 2.53%. The ex-dividend date was Wednesday, June 14th. SpartanNash Company’s payout ratio is currently 40.00%.
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In related news, Director M Shan Atkins sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, June 19th. The stock was sold at an average price of $27.69, for a total value of $55,380.00. Following the sale, the director now owns 32,425 shares of the company’s stock, valued at approximately $897,848.25. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Theodore Adornato sold 1,182 shares of the company’s stock in a transaction that occurred on Monday, May 15th. The shares were sold at an average price of $36.86, for a total value of $43,568.52. Following the completion of the sale, the insider now directly owns 51,256 shares in the company, valued at approximately $1,889,296.16. The disclosure for this sale can be found here. In the last ninety days, insiders sold 48,407 shares of company stock worth $1,686,020. 3.00% of the stock is owned by corporate insiders.
A number of large investors have recently bought and sold shares of SPTN. BlackRock Inc. raised its stake in SpartanNash Company by 21,712.5% in the first quarter. BlackRock Inc. now owns 4,785,883 shares of the company’s stock worth $167,458,000 after buying an additional 4,763,942 shares during the last quarter. Norges Bank acquired a new position in shares of SpartanNash Company during the fourth quarter worth $22,534,000. Goldman Sachs Group Inc. raised its position in shares of SpartanNash Company by 59.9% in the first quarter. Goldman Sachs Group Inc. now owns 719,700 shares of the company’s stock worth $25,182,000 after buying an additional 269,686 shares in the last quarter. Vanguard Group Inc. raised its position in shares of SpartanNash Company by 10.0% in the first quarter. Vanguard Group Inc. now owns 2,544,312 shares of the company’s stock worth $89,025,000 after buying an additional 230,533 shares in the last quarter. Finally, Nuveen Asset Management LLC raised its position in shares of SpartanNash Company by 55.3% in the first quarter. Nuveen Asset Management LLC now owns 330,399 shares of the company’s stock worth $11,561,000 after buying an additional 117,661 shares in the last quarter. 88.30% of the stock is currently owned by hedge funds and other institutional investors.
About SpartanNash Company
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.
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