SpartanNash Co (SPTN) reported quarterly earnings results on Wednesday, May-25-2016. The company said it had a profit of $0.54 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.04. Analysts had a consensus of $0.50. The company posted revenue of $2278.80 million in the period, compared to analysts expectations of $2284.76 million. The company’s revenue was down -1.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.44 EPS.
Many Wall Street Analysts have commented on SpartanNash Co. Pivotal Research Group Downgraded SpartanNash Co on Apr 1, 2016 to ” Hold”, Price Target of the shares are set at $30.
SpartanNash Co opened for trading at $27.29 and hit $27.9 on the upside on Friday, eventually ending the session at $27.88, with a gain of 2.88% or 0.78 points. The heightened volatility saw the trading volume jump to 1,70,535 shares. Company has a market cap of $1,045,639 M.
In a different news, on Mar 30, 2016, Edward L Brunot (Exec. V. P. and Pres. of MDV) sold 2,722 shares at $28.58 per share price. According to the SEC, on Mar 23, 2016, Lawrence R Pierce (EVP Merch. and Marketing) sold 2,453 shares at $28.75 per share price. On Mar 23, 2016, David M Staples (EVP and COO, Int. CFO) sold 3,441 shares at $29.31 per share price, according to the Form-4 filing with the securities and exchange commission.
Spartannash Company formerly Spartan Stores Inc. is a multi-regional grocery distributor and grocery retailer. The Company’s core businesses include distributing food to military commissaries and exchanges and independent and corporate-owned retail stores located in 42 states and the District of Columbia Europe Cuba Puerto Rico Bahrain Egypt Honduras Afghanistan and Bosnia. The Company operates through three segments: Military which sells and distributes grocery products to military commissaries and exchanges in the United States and overseas; Food Distribution which uses a multi-platform sales approach to distribute groceries to independent and corporate owned grocery retailers and Retail which operates retail supermarkets.