Spartan Stores Inc. (SPTN) Trading Down 1.5%

spartan-stores-inc-sptn-trading-down-15.png

Shares of Spartan Stores Inc. (NASDAQ:SPTN) dropped 1.5% during trading on Thursday . The stock traded as low as $28.88 and last traded at $28.94, with a volume of 90,111 shares. The stock had previously closed at $29.39.
SPTN has been the subject of several research analyst reports. Deutsche Bank AG set a $28.00 price objective on Spartan Stores and gave the stock a “hold” rating in a report on Thursday, August 18th. Zacks Investment Research raised Spartan Stores from a “hold” rating to a “buy” rating and set a $35.00 price objective for the company in a report on Saturday, August 20th. Jefferies Group set a $33.00 price objective on Spartan Stores and gave the stock a “hold” rating in a report on Wednesday, July 27th. Finally, Northcoast Research raised Spartan Stores from a “neutral” rating to a “buy” rating in a report on Tuesday, August 23rd. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $31.50.
The stock has a market capitalization of $1.11 billion, a P/E ratio of 18.76 and a beta of 0.84. The stock has a 50-day moving average price of $31.36 and a 200 day moving average price of $29.52.

This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at http://www.americanbankingnews.com/2016/09/15/spartan-stores-inc-sptn-trading-down-1-5.html

Spartan Stores (NASDAQ:SPTN) last released its quarterly earnings data on Wednesday, August 17th. The company reported $0.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.01. Spartan Stores had a net margin of 0.78% and a return on equity of 10.15%. The company earned $1.83 billion during the quarter, compared to the consensus estimate of $1.80 billion. During the same quarter in the prior year, the firm posted $0.53 earnings per share. Spartan Stores’s revenue for the quarter was up 1.8% on a year-over-year basis. Equities research analysts forecast that Spartan Stores Inc. will post $2.15 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 30th. Shareholders of record on Friday, September 16th will be paid a $0.15 dividend. The ex-dividend date of this dividend is Wednesday, September 14th. This represents a $0.60 annualized dividend and a yield of 2.03%. Spartan Stores’s dividend payout ratio is presently 37.97%.
In other Spartan Stores news, VP David Des Couch sold 14,092 shares of the company’s stock in a transaction on Monday, August 1st. The shares were sold at an average price of $32.29, for a total value of $455,030.68. Following the completion of the transaction, the vice president now owns 59,270 shares in the company, valued at $1,913,828.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 3.30% of the stock is currently owned by company insiders.
A number of institutional investors have recently added to or reduced their stakes in SPTN. Louisiana State Employees Retirement System increased its position in 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 boosted 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 worth $259,000 after buying an additional 100 shares during the last quarter. PineBridge Investments L.P. boosted 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 worth $145,000 after buying an additional 197 shares during the last quarter. Arizona State Retirement System boosted 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 worth $595,000 after buying an additional 300 shares during the last quarter. Finally, Suntrust Banks Inc. boosted 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 worth $315,000 after buying an additional 336 shares during the last quarter. Institutional investors own 86.99% of the company’s stock.
About Spartan Stores
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 & 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 companies with MarketBeat.com’s FREE daily email newsletter.

Be the first to comment on "Spartan Stores Inc. (SPTN) Trading Down 1.5%"

Leave a comment

Your email address will not be published.

*