SpartanNash (NASDAQ:SPTN) Issues FY 2021 Earnings Guidance

SpartanNash (NASDAQ:SPTN) issued an update on its FY 2021 earnings guidance on Wednesday morning. The company provided EPS guidance of $1.700-$1.800 for the period, compared to the Thomson Reuters consensus EPS estimate of $1.770. The company issued revenue guidance of $8.80 billion-$9 billion, compared to the consensus revenue estimate of $8.89 billion.

Shares of SPTN traded up $0.26 during mid-day trading on Wednesday, reaching $21.11. The company’s stock had a trading volume of 2,387 shares, compared to its average volume of 339,044. The business has a fifty day moving average of $19.98 and a 200 day moving average of $19.93. The company has a market cap of $758.65 million, a price-to-earnings ratio of 10.92 and a beta of 0.81. SpartanNash has a 1 year low of $15.75 and a 1 year high of $23.45. The company has a quick ratio of 0.70, a current ratio of 1.53 and a debt-to-equity ratio of 0.59.

SpartanNash (NASDAQ:SPTN) last posted its quarterly earnings results on Tuesday, August 17th. The company reported $0.54 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.48 by $0.06. SpartanNash had a net margin of 0.75% and a return on equity of 10.80%. The business had revenue of $2.11 billion for the quarter, compared to the consensus estimate of $2.09 billion. During the same period in the prior year, the business posted $0.73 earnings per share. SpartanNash’s revenue for the quarter was down 3.6% compared to the same quarter last year. On average, analysts predict that SpartanNash will post 1.77 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 30th. Shareholders of record on Wednesday, September 15th will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 3.79%. The ex-dividend date of this dividend is Tuesday, September 14th. SpartanNash’s dividend payout ratio is currently 31.62%.

Separately, Zacks Investment Research cut SpartanNash from a buy rating to a hold rating in a research report on Saturday, August 28th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of Hold and an average target price of $20.00.

In related news, Director William R. Voss sold 15,000 shares of the business’s stock in a transaction that occurred on Thursday, August 26th. The shares were sold at an average price of $21.00, for a total transaction of $315,000.00. Following the completion of the transaction, the director now owns 30,352 shares in the company, valued at $637,392. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Kathleen M. Mahoney sold 12,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 1st. The shares were sold at an average price of $21.37, for a total transaction of $256,440.00. Following the transaction, the executive vice president now owns 74,600 shares of the company’s stock, valued at approximately $1,594,202. The disclosure for this sale can be found here. Corporate insiders own 1.80% of the company’s stock.

About SpartanNash

SpartanNash Co engages in the distribution of grocery products to military commissaries in the U.S. It operates through the following segments: Military, Food Distribution and Retail. The Military segment sells and distributes grocery products primarily to U.S. military commissaries and exchanges. The Food Distribution segment distributes groceries to independent and corporate owned grocery retailers using multi-platform sales approach.

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Earnings History and Estimates for SpartanNash (NASDAQ:SPTN)

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