SpartanNash (NASDAQ:SPTN) Issues Quarterly Earnings Results

SpartanNash (NASDAQ:SPTN) issued its earnings results on Thursday. The company reported $0.48 EPS for the quarter, topping analysts’ consensus estimates of $0.47 by $0.01, Briefing.com reports. SpartanNash had a net margin of 0.48% and a return on equity of 8.87%. The business had revenue of $2.25 billion for the quarter, compared to the consensus estimate of $2.24 billion. During the same period in the prior year, the firm earned $0.54 EPS. The company’s revenue for the quarter was down .6% compared to the same quarter last year. SpartanNash updated its FY24 guidance to $1.85-1.95 EPS and its FY 2024 guidance to 1.850-1.950 EPS.

SpartanNash Stock Down 4.2 %

SPTN stock traded down $0.83 during trading on Friday, hitting $18.95. 330,651 shares of the company’s stock traded hands, compared to its average volume of 248,713. The business has a fifty day simple moving average of $21.68 and a two-hundred day simple moving average of $20.43. The company has a quick ratio of 0.80, a current ratio of 1.62 and a debt-to-equity ratio of 0.76. The firm has a market capitalization of $639.47 million, a P/E ratio of 14.42 and a beta of 0.39. SpartanNash has a 1 year low of $17.74 and a 1 year high of $24.51.

SpartanNash Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, October 4th. Stockholders of record on Monday, September 23rd were given a $0.218 dividend. The ex-dividend date of this dividend was Monday, September 23rd. This represents a $0.87 annualized dividend and a dividend yield of 4.60%. SpartanNash’s payout ratio is presently 65.41%.

Analysts Set New Price Targets

Separately, StockNews.com upgraded SpartanNash from a “hold” rating to a “buy” rating in a report on Wednesday, September 18th.

SpartanNash Company Profile

SpartanNash Company distributes and retails grocery products in the United States of America. It operates through Wholesale and Retail segments. The Wholesale segment offers grocery products and perishable food products, including 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 pharmaceutical products to independent retailers, national accounts, food service distributors, e-commerce providers, and corporate owned retail stores.