SpartanNash SPTN Rating Downgraded; Financial Institutions Adjust Holdings

Equity research analysts at StockNews.com have recently revised their rating on SpartanNash SPTN, the Grand Rapids, Michigan-based food distributor and retailer. The company's stock has been downgraded from a 'buy' to a 'hold' status, suggesting a shift in expert opinion on the stock's prospective performance. This adjustment aligns with another recent rating change, where TheStreet moved SpartanNash down from a 'b' rating to a 'c+' rating, cumulatively signaling a more cautious stance from the analysis sector.

Market Analyst Ratings and Price Targets

At present, the consensus among research analysts who cover SpartanNash SPTN indicates a 'Hold' rating for the stock, which is supported by three 'hold' ratings and one 'buy' rating. The stock currently carries an average price target of $26.00, as extracted from data compiled by MarketBeat.

Trading Performance and Financial Ratios

On the trading floor, SpartanNash's stock instigated at $21.91. It showcases a current ratio of 1.59 and a quicker ratio of 0.76, alongside a debt-to-equity ratio sitting at 0.69. Throughout the past year, SpartanNash has seen lows of $20.51 and highs of $34.99. The stock's moving averages suggest a 50-day simple moving average of $22.25 and a 200-day simple moving average of $22.53, with a market capitalization hovering around $758.52 million. The company also presents with a PE ratio of 17.96, a P/E/G ratio of 2.52, and registers a beta of 0.64.

Earnings Insights

For the latest quarterly report, SpartanNash SPTN shared EPS figures of $0.54, falling short of the expected $0.60 by $0.06. The company's return on equity was noted at 9.66% with a net margin of 0.43%. Recorded quarterly revenue amounted to $2.26 billion, slightly below the projected $2.31 billion. For the ongoing fiscal year, analysts anticipate that SpartanNash will post earnings of $2.26 per share.

Institutional Activity

A spectrum of hedge funds and institutional investors have recently amended their stakes in SpartanNash. EMC Capital Management augmented their SpartanNash holdings by 28.5% during the third quarter, now possessing 8,626 shares estimated at $190,000. Deutsche Bank AG DB increased its shares by 14.7%, currently owning 18,038 shares with a value of $397,000. Mitsubishi UFJ Trust & Banking Corp MSBHF also elevated their position by 33.6%, now holding 25,289 shares valued at $556,000. Additionally, HighTower Advisors LLC initiated a new holding in SpartanNash during the same period, worth approximately $359,000. Furthermore, Charles Schwab Investment Management Inc.SCHW, raised its stake by 7.7%, now overseeing 444,029 shares with a market value of $9,769,000. Overall, 81.49% of SpartanNash's stock is held by institutional investors.

Company Outlook

SpartanNash not only distributes a comprehensive range of grocery products but also has a significant footprint in the retail sector. The company's Wholesale segment engages in supplying a vast array of products including dry groceries and perishable items to a diverse set of clientele that includes independent retailers, national accounts, and food service distributors, among others.

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