SpartanNash (NASDAQ:SPTN) Updates FY 2024 Earnings Guidance

SpartanNash (NASDAQ:SPTNGet Free Report) updated its FY 2024 earnings guidance on Thursday. The company provided earnings per share guidance of 1.850-2.100 for the period, compared to the consensus earnings per share estimate of 2.000. The company issued revenue guidance of $9.5 billion-$9.7 billion, compared to the consensus revenue estimate of $9.7 billion. SpartanNash also updated its FY24 guidance to $1.85-2.10 EPS.

SpartanNash Price Performance

Shares of NASDAQ:SPTN opened at $19.65 on Friday. SpartanNash has a twelve month low of $18.57 and a twelve month high of $24.51. The stock’s 50 day moving average is $19.76 and its 200-day moving average is $21.25. The company has a quick ratio of 0.76, a current ratio of 1.75 and a debt-to-equity ratio of 0.78. The firm has a market capitalization of $677.34 million, a price-to-earnings ratio of 12.68 and a beta of 0.53.

SpartanNash (NASDAQ:SPTNGet Free Report) last released its quarterly earnings data on Thursday, May 30th. The company reported $0.53 earnings per share for the quarter, topping the consensus estimate of $0.52 by $0.01. SpartanNash had a net margin of 0.56% and a return on equity of 9.22%. The firm had revenue of $2.81 billion for the quarter, compared to the consensus estimate of $2.86 billion. During the same quarter in the prior year, the company posted $0.64 earnings per share. The business’s revenue was down 3.6% on a year-over-year basis. Sell-side analysts forecast that SpartanNash will post 1.93 EPS for the current fiscal year.

SpartanNash Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be given a dividend of $0.218 per share. This represents a $0.87 dividend on an annualized basis and a dividend yield of 4.44%. This is an increase from SpartanNash’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend is Friday, June 14th. SpartanNash’s dividend payout ratio (DPR) is presently 56.13%.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. BMO Capital Markets reduced their price objective on SpartanNash from $22.00 to $20.00 and set a market perform rating for the company in a research note on Friday. TheStreet raised SpartanNash from a c+ rating to a b rating in a report on Thursday, February 15th. Finally, downgraded shares of SpartanNash from a buy rating to a hold rating in a research note on Monday, February 19th.

Get Our Latest Analysis on SpartanNash

Insider Buying and Selling at SpartanNash

In other SpartanNash news, Director William R. Voss sold 16,439 shares of the company’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $19.84, for a total value of $326,149.76. Following the transaction, the director now directly owns 15,248 shares in the company, valued at approximately $302,520.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.40% of the company’s stock.

About SpartanNash

(Get Free Report)

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.

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