Analysts at Royal Bank of Canada began coverage on shares of SpartanNash (NASDAQ:SPTN) in a report released on Thursday, Marketbeat.com reports. The firm set an “outperform” rating and a $25.00 price target on the stock. Royal Bank of Canada’s target price points to a potential upside of 21.18% from the company’s current price.
SPTN has been the topic of several other reports. BidaskClub cut SpartanNash from a “buy” rating to a “hold” rating in a research report on Tuesday, January 1st. BMO Capital Markets cut SpartanNash from an “outperform” rating to a “market perform” rating and set a $23.00 target price on the stock. in a research report on Thursday, November 8th. Zacks Investment Research upgraded SpartanNash from a “sell” rating to a “hold” rating in a research report on Wednesday. Northcoast Research upgraded SpartanNash from a “neutral” rating to a “buy” rating in a research report on Thursday, November 15th. Finally, ValuEngine upgraded SpartanNash from a “strong sell” rating to a “sell” rating in a research report on Thursday, November 8th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $21.83.
Shares of NASDAQ SPTN opened at $20.63 on Thursday. The company has a market capitalization of $695.83 million, a P/E ratio of 9.82, a P/E/G ratio of 1.35 and a beta of 1.12. SpartanNash has a 12-month low of $16.08 and a 12-month high of $26.99. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.84 and a current ratio of 1.99.
In related news, insider David M. Staples sold 11,960 shares of the firm’s stock in a transaction that occurred on Wednesday, November 28th. The stock was sold at an average price of $18.39, for a total value of $219,944.40. Following the sale, the insider now directly owns 182,706 shares in the company, valued at approximately $3,359,963.34. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Douglas A. Hacker sold 2,499 shares of the firm’s stock in a transaction that occurred on Tuesday, November 27th. The shares were sold at an average price of $18.75, for a total value of $46,856.25. Following the completion of the sale, the director now owns 31,265 shares in the company, valued at $586,218.75. The disclosure for this sale can be found here. 2.40% of the stock is owned by company insiders.
Several hedge funds have recently modified their holdings of the company. Cubist Systematic Strategies LLC increased its position in shares of SpartanNash by 29.4% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 19,968 shares of the company’s stock valued at $510,000 after purchasing an additional 4,537 shares during the period. IndexIQ Advisors LLC increased its position in shares of SpartanNash by 3.9% during the 3rd quarter. IndexIQ Advisors LLC now owns 132,089 shares of the company’s stock valued at $2,650,000 after purchasing an additional 4,988 shares during the period. Bessemer Group Inc. acquired a new position in shares of SpartanNash during the 3rd quarter valued at $102,000. Legal & General Group Plc increased its position in shares of SpartanNash by 5.5% during the 3rd quarter. Legal & General Group Plc now owns 106,454 shares of the company’s stock valued at $2,136,000 after purchasing an additional 5,515 shares during the period. Finally, Northern Trust Corp increased its position in shares of SpartanNash by 1.0% during the 2nd quarter. Northern Trust Corp now owns 772,030 shares of the company’s stock valued at $19,703,000 after purchasing an additional 7,331 shares during the period. Institutional investors own 84.28% 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 60,000 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 retail locations, food service distributors, and corporate-owned retail stores.
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