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SpartanNash (NASDAQ:SPTN) Expected to Announce Quarterly Sales of $2.15 Billion

Last updated on Sunday, October 18, 2020 | 2020 MarketBeat

Brokerages expect SpartanNash (NASDAQ:SPTN) to announce $2.15 billion in sales for the current quarter, according to Zacks Investment Research. Two analysts have provided estimates for SpartanNash's earnings, with estimates ranging from $2.13 billion to $2.17 billion. SpartanNash posted sales of $2.00 billion during the same quarter last year, which would indicate a positive year over year growth rate of 7.5%. The firm is expected to report its next quarterly earnings report on Wednesday, November 4th.

According to Zacks, analysts expect that SpartanNash will report full year sales of $9.45 billion for the current financial year, with estimates ranging from $9.41 billion to $9.49 billion. For the next financial year, analysts expect that the firm will post sales of $8.76 billion, with estimates ranging from $8.63 billion to $8.88 billion. Zacks' sales calculations are an average based on a survey of analysts that follow SpartanNash.

SpartanNash (NASDAQ:SPTN) last issued its earnings results on Wednesday, August 12th. The company reported $0.73 EPS for the quarter, beating the Thomson Reuters' consensus estimate of $0.62 by $0.11. The company had revenue of $2.18 billion for the quarter, compared to the consensus estimate of $2.31 billion. SpartanNash had a net margin of 0.54% and a return on equity of 10.02%.

Several brokerages recently issued reports on SPTN. Wolfe Research began coverage on shares of SpartanNash in a research report on Friday, October 9th. They set an "outperform" rating and a $20.00 price target on the stock. TheStreet upgraded shares of SpartanNash from a "c" rating to a "b" rating in a research report on Wednesday, August 12th. BidaskClub downgraded shares of SpartanNash from a "hold" rating to a "sell" rating in a research report on Thursday, September 17th. ValuEngine upgraded shares of SpartanNash from a "strong sell" rating to a "sell" rating in a research report on Saturday, June 27th. Finally, BMO Capital Markets restated a "hold" rating and set a $23.00 target price on shares of SpartanNash in a research report on Friday, August 14th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of "Hold" and a consensus target price of $20.60.

In other news, Director M Shan Atkins sold 6,000 shares of the company's stock in a transaction dated Monday, July 27th. The stock was sold at an average price of $22.75, for a total value of $136,500.00. Following the completion of the sale, the director now directly owns 39,112 shares of the company's stock, valued at approximately $889,798. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Over the last ninety days, insiders sold 12,000 shares of company stock valued at $270,000. 1.80% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Martin & Co. Inc. TN increased its stake in SpartanNash by 1.7% during the 2nd quarter. Martin & Co. Inc. TN now owns 63,918 shares of the company's stock worth $1,358,000 after purchasing an additional 1,078 shares in the last quarter. Paloma Partners Management Co increased its stake in SpartanNash by 8.8% during the 1st quarter. Paloma Partners Management Co now owns 14,202 shares of the company's stock worth $203,000 after purchasing an additional 1,152 shares in the last quarter. State of Tennessee Treasury Department increased its stake in SpartanNash by 3.6% during the 1st quarter. State of Tennessee Treasury Department now owns 36,251 shares of the company's stock worth $519,000 after purchasing an additional 1,274 shares in the last quarter. Thrivent Financial for Lutherans increased its stake in SpartanNash by 5.3% during the 1st quarter. Thrivent Financial for Lutherans now owns 30,462 shares of the company's stock worth $436,000 after purchasing an additional 1,521 shares in the last quarter. Finally, National Asset Management Inc. increased its stake in SpartanNash by 14.0% during the 2nd quarter. National Asset Management Inc. now owns 12,644 shares of the company's stock worth $269,000 after purchasing an additional 1,550 shares in the last quarter. 84.92% of the stock is owned by institutional investors and hedge funds.

Shares of NASDAQ SPTN opened at $20.80 on Friday. The firm's 50-day simple moving average is $18.08 and its 200 day simple moving average is $18.71. The company has a market cap of $745.33 million, a price-to-earnings ratio of 15.18 and a beta of 0.94. The company has a quick ratio of 0.75, a current ratio of 1.56 and a debt-to-equity ratio of 0.78. SpartanNash has a 12-month low of $9.00 and a 12-month high of $23.94.

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Friday, September 11th were paid a $0.1925 dividend. The ex-dividend date of this dividend was Thursday, September 10th. This is a boost from SpartanNash's previous quarterly dividend of $0.19. This represents a $0.77 dividend on an annualized basis and a dividend yield of 3.70%. SpartanNash's dividend payout ratio is 70.00%.

SpartanNash Company Profile

SpartanNash Company distributes and retails grocery products. It operates in three segments: Food Distribution, Military, and Retail. The Food Distribution segment offers approximately 52,000 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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Earnings History and Estimates for SpartanNash (NASDAQ:SPTN)

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12 Stocks Corporate Insiders are Abandoning

An insider trade occurs when a corporate executive (such as a CEO, CFO or COO) that has non-public information about a company buys or sells shares of that company's stock. Company insiders are required by law to regularly report their stock purchases and sales to the SEC.

Tracking a company's insider trades is a metric that can be used to identify the direction that the company's executives believes that the company is headed. If a number of insiders sell shares of their company, they may believe that the company will have weak future earnings and that the share price will decline in the near future.

For example, if Microsoft's CEO, CFO and COO all recently sold shares of Microsoft stock, that would be an indication that there could be unreported news that may negatively effect Microsoft's stock price in the near future.

This slideshow lists the 12 companies that have had the highest levels of insider buying within the last 180 days.

View the "12 Stocks Corporate Insiders are Abandoning".

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