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SpartanNash (SPTN) Hikes Dividend, Boosts Shareholder Value
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Food products retailer, SpartanNash Company (SPTN - Free Report) has announced a 10% hike in quarterly cash dividend to 16.5 cents per share. The dividend is scheduled to be paid on Mar 31, 2017 to shareholders of record as of Mar 20, 2017.
The annualized dividend of 66 cents now amounts to a dividend yield of 1.78%, based on SpartanNash’s closing price of $33.60 as of Mar 6, 2017. The dividend hike marks the sixth consecutive year of dividend hike after 2011. The company previously increased annual dividend by 11.1% in Mar 17, 2016 to 15 cents per share from 13.5 cents. As of Mar 1, 2017, SpartanNash reported that there were outstanding shares of 37.5 million.
SpartanNash, a food distributor serving military commissaries and exchanges in the U.S., reported better-than-expected fourth-quarter fiscal 2016 results on Feb 22. The company reported adjusted earnings of 53 cents in the fourth quarter, up 1.92% from the year-ago quarter.
Net sales increased 3.4% to $1.83 billion during the quarter driven by improvements in the food distribution and military segments, and retail comparable store sales trends. The company benefited from the shift of New Year’s Day into fiscal 2017. In fact, it posted positive surprises in all the trailing four quarters resulting in an average positive surprise of 5.03%.
Investors optimism about the stock is evident from the share price movement of the company. We observe that SpartanNash has been a promising over the past one year. In the said period, the stock has gained 16.1%, outperforming the Zacks categorized Food Items-Wholesale industry’s decline of 16% during the same period.
Despite posting better-than-expected results, the company faces several issues. Food deflation, lower sales at the DeCA-operated commissaries and the closure of retail stores has remained potent headwinds for the Zacks Rank #4 (Sell) company.
While Burlington Stores has an expected earnings growth of 19.9%, Genesco and CarMax has an expected earnings growth rate of 9.5% and 14%, respectively.
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SpartanNash (SPTN) Hikes Dividend, Boosts Shareholder Value
Food products retailer, SpartanNash Company (SPTN - Free Report) has announced a 10% hike in quarterly cash dividend to 16.5 cents per share. The dividend is scheduled to be paid on Mar 31, 2017 to shareholders of record as of Mar 20, 2017.
The annualized dividend of 66 cents now amounts to a dividend yield of 1.78%, based on SpartanNash’s closing price of $33.60 as of Mar 6, 2017. The dividend hike marks the sixth consecutive year of dividend hike after 2011. The company previously increased annual dividend by 11.1% in Mar 17, 2016 to 15 cents per share from 13.5 cents. As of Mar 1, 2017, SpartanNash reported that there were outstanding shares of 37.5 million.
SpartanNash, a food distributor serving military commissaries and exchanges in the U.S., reported better-than-expected fourth-quarter fiscal 2016 results on Feb 22. The company reported adjusted earnings of 53 cents in the fourth quarter, up 1.92% from the year-ago quarter.
Net sales increased 3.4% to $1.83 billion during the quarter driven by improvements in the food distribution and military segments, and retail comparable store sales trends. The company benefited from the shift of New Year’s Day into fiscal 2017. In fact, it posted positive surprises in all the trailing four quarters resulting in an average positive surprise of 5.03%.
Investors optimism about the stock is evident from the share price movement of the company. We observe that SpartanNash has been a promising over the past one year. In the said period, the stock has gained 16.1%, outperforming the Zacks categorized Food Items-Wholesale industry’s decline of 16% during the same period.
Despite posting better-than-expected results, the company faces several issues. Food deflation, lower sales at the DeCA-operated commissaries and the closure of retail stores has remained potent headwinds for the Zacks Rank #4 (Sell) company.
Key Picks
Some better-ranked stocks in the retail sector are Burlington Stores Inc. (BURL - Free Report) , Genesco Inc. (GCO - Free Report) and CarMax Inc. (KMX - Free Report) all carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
While Burlington Stores has an expected earnings growth of 19.9%, Genesco and CarMax has an expected earnings growth rate of 9.5% and 14%, respectively.
Zacks' Top 10 Stocks for 2017
In addition to the stocks discussed above, would you like to know about our 10 finest tickers for the entirety of 2017?
Who wouldn't? These 10 are painstakingly hand-picked from 4,400 companies covered by the Zacks Rank. They are our primary picks to buy and hold. Be among the very first to see them >>