Deutsche Bank Aktiengesellschaft raises SpartanNash (NASDAQ:SPTN) price target to $36.00
SpartanNash (NASDAQ:SPTN – Get a rating) saw its target price raised by Deutsche Bank Aktiengesellschaft investment analysts from $26.00 to $36.00 in a research report published on Tuesday, reports The Fly. Deutsche Bank Aktiengesellschaft’s price target suggests a potential upside of 21.54% from the stock’s previous close.
A number of other research analysts have also recently commented on SPTN. BMO Capital Markets raised its price target on SpartanNash shares from $29.00 to $31.00 and gave the company a “market performance” rating in a Friday, Aug. 19 research report. StockNews.com upgraded SpartanNash from a “hold” rating to a “buy” rating in a Sunday, June 19 research report. Three investment analysts gave the stock a hold rating and two gave the stock a buy rating. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $27.83.
SpartanNash Stock Performance
SPTN stock opened at $29.62 on Tuesday. SpartanNash has a 12-month low of $20.26 and a 12-month high of $37.48. The company has a quick ratio of 0.75, a current ratio of 1.59 and a debt ratio of 0.60. The company has a market capitalization of $1.06 billion, a P/E ratio of 17.32 and a beta of 0.68. The company’s 50-day moving average is $31.33 and its 200-day moving average is $32.06.
SpartanNash (NASDAQ:SPTN – Get Rating) last reported results on Thursday, August 18. The company reported earnings per share (EPS) of $0.66 for the quarter, beating consensus analyst estimates of $0.58 by $0.08. The company posted revenue of $2.27 billion in the quarter, versus $2.13 billion expected by analysts. SpartanNash had a return on equity of 9.71% and a net margin of 0.67%. The company’s revenue increased 7.9% year over year. In the same period a year earlier, the company earned earnings per share of $0.54. Equity research analysts expect SpartanNash to post EPS of 2.25 for the current year.
Insider Trading at SpartanNash
In related news, director Hawthorne L. Proctor sold 4,500 shares of SpartanNash in a trade on Tuesday, August 23. The shares were sold at an average price of $31.27, for a total transaction of $140,715.00. Following the completion of the transaction, the director now owns 30,708 shares of the company, valued at $960,239.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available via this link. Separately, director Hawthorne L. Proctor sold 4,500 shares in a trade on Tuesday, August 23. The stock was sold at an average price of $31.27, for a total value of $140,715.00. As a result of the transaction, the administrator now directly owns 30,708 shares of the company, valued at approximately $960,239.16. The sale was disclosed in a filing with the SEC, which is available on the SEC’s website. Additionally, director Matthew Mannelly sold 10,000 shares of the company in a trade dated Tuesday, June 14. The stock was sold at an average price of $31.06, for a total transaction of $310,600.00. Following the sale, the director now directly owns 20,354 shares of the company, valued at $632,195.24. The disclosure of this sale can be found here. 1.80% of the shares are held by insiders.
Institutional investors weigh in on SpartanNash
Several large investors have recently changed their positions in the company. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main purchased a new equity stake in SpartanNash during the second quarter, valued at approximately $12,435,000. JPMorgan Chase & Co. increased its stake in SpartanNash by 116.0% during the second quarter. JPMorgan Chase & Co. now owns 704,131 shares of the company valued at $21,243,000 after acquiring an additional 378,080 shares last quarter. Invesco Ltd. raised its position in SpartanNash shares by 51.4% in the fourth quarter. Invesco Ltd. now owns 1,019,282 shares of the company worth $26,256,000 after purchasing an additional 346,230 shares last quarter. Vanguard Group Inc. increased its stake in SpartanNash by 9.7% in Q1. Vanguard Group Inc. now owns 2,990,249 shares of the company worth $98,649,000 after acquiring an additional 263,582 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its position in SpartanNash shares by 142.9% during the second quarter. Goldman Sachs Group Inc. now owns 383,456 shares of the company valued at $11,569,000 after acquiring an additional 225,579 shares in the last quarter. 87.71% of the shares are held by hedge funds and other institutional investors.
SpartanNash Company Profile
(Get a rating)
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 stocking units, such as dry groceries, fresh produce, dairy, meat, deli items, baked goods, frozen foods, seafood, floral products, general merchandise, beverages, tobacco products, health and beauty care. and pharmaceuticals to independent retailers, national retailers, foodservice distributors, e-commerce vendors and company-owned retail stores.
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