Investment Analysts’ Recent Ratings Updates for SpartanNash (SPTN)

Several analysts have recently updated their ratings and price targets for SpartanNash (NASDAQ: SPTN):

  • 6/9/2022 – SpartanNash was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $37.00 price target on the stock. According to Zacks, “SpartanNash Co. is a food distributor serving military commissaries and exchanges 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 44 states and the District of Columbia, Europe, Cuba, Puerto Rico, the Azores, Bahrain and Egypt. It operates supermarkets, primarily under the banners of Family Fare Supermarkets, No Frills, Bag ‘n Save and Econofoods. SpartanNash Co., formerly known as Spartan Stores, Inc., is headquartered in United States. “
  • 6/7/2022 – SpartanNash had its price target raised by analysts at BMO Capital Markets from $24.00 to $29.00.
  • 6/3/2022 – SpartanNash was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating.
  • 6/3/2022 – SpartanNash had its price target raised by analysts at Deutsche Bank Aktiengesellschaft from $25.00 to $26.00.
  • 5/21/2022 – SpartanNash was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “SpartanNash Co. is a food distributor serving military commissaries and exchanges 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 44 states and the District of Columbia, Europe, Cuba, Puerto Rico, the Azores, Bahrain and Egypt. It operates supermarkets, primarily under the banners of Family Fare Supermarkets, No Frills, Bag ‘n Save and Econofoods. SpartanNash Co., formerly known as Spartan Stores, Inc., is headquartered in United States. “
  • 5/14/2022 – SpartanNash was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating.
  • 5/6/2022 – SpartanNash was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating.
  • 4/21/2022 – SpartanNash was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating.
  • 4/13/2022 – SpartanNash was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating.

Shares of NASDAQ:SPTN opened at $32.14 on Friday. The company has a quick ratio of 0.72, a current ratio of 1.56 and a debt-to-equity ratio of 0.56. The business has a fifty day moving average of $33.95 and a two-hundred day moving average of $29.51. The stock has a market cap of $1.16 billion, a P/E ratio of 15.75 and a beta of 0.64. SpartanNash has a 52-week low of $18.08 and a 52-week high of $37.48.

SpartanNash (NASDAQ:SPTNGet Rating) last issued its earnings results on Thursday, June 2nd. The company reported $0.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.64 by $0.19. The company had revenue of $2.76 billion during the quarter, compared to analysts’ expectations of $2.77 billion. SpartanNash had a return on equity of 9.21% and a net margin of 0.81%. The firm’s quarterly revenue was up 4.0% on a year-over-year basis. During the same period in the prior year, the business earned $0.56 EPS. On average, equities analysts anticipate that SpartanNash will post 2.26 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 30th. Shareholders of record on Wednesday, June 15th will be issued a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 2.61%. The ex-dividend date is Tuesday, June 14th. SpartanNash’s payout ratio is currently 41.18%.

A number of large investors have recently modified their holdings of the business. Eaton Vance Management raised its position in SpartanNash by 4.3% in the 3rd quarter. Eaton Vance Management now owns 10,360 shares of the company’s stock valued at $31,000 after purchasing an additional 423 shares in the last quarter. Commonwealth Equity Services LLC raised its position in SpartanNash by 2.3% in the 1st quarter. Commonwealth Equity Services LLC now owns 21,556 shares of the company’s stock valued at $711,000 after purchasing an additional 494 shares in the last quarter. US Bancorp DE raised its position in SpartanNash by 10.7% in the 1st quarter. US Bancorp DE now owns 5,275 shares of the company’s stock valued at $174,000 after purchasing an additional 508 shares in the last quarter. MBM Wealth Consultants LLC raised its position in shares of SpartanNash by 33.7% during the 4th quarter. MBM Wealth Consultants LLC now owns 2,045 shares of the company’s stock worth $53,000 after acquiring an additional 515 shares in the last quarter. Finally, Burney Co. raised its position in shares of SpartanNash by 1.2% during the 1st quarter. Burney Co. now owns 45,695 shares of the company’s stock worth $1,507,000 after acquiring an additional 546 shares in the last quarter. Institutional investors own 79.36% of the company’s stock.

SpartanNash Company distributes and retails grocery products. It operates in three segments: Food Distribution, Military, and Retail. The Food Distribution segment offers approximately 65,000 stock-keeping units, such as dry groceries, produce, dairy products, meat, delicatessen items, bakery goods, frozen food, seafood, floral products, general merchandise, beverages, tobacco products, health and beauty care, and pharmacy products to independent retailers, national retailers, food service distributors, e-commerce providers, and corporate owned retail stores.

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