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SPTN

SpartanNash

$9.95

-0.25 (-2.45%)

09:12
08/12/19
08/12
09:12
08/12/19
09:12

SpartanNash exits Fresh Kitchen operations

SpartanNash announced that it has made the decision to exit its Indianapolis-based Fresh Kitchen operations to improve operating earnings and EBITDA results, within the food distribution segment. The company will shift its focus and expertise to its produce distribution and Fresh Cut operations. The Fresh Kitchen, which was acquired in 2017 as part of SpartanNash's acquisition of Caito Foods, is a newly constructed facility that cooks and packages fresh protein-based foods and complete meal solutions for a number of different customers. The annual net sales impact of exiting the Fresh Kitchen operations will be approximately $20M. The company expects to complete its transition by the end of FY19.

  • 15

    Aug

SPTN SpartanNash
$9.95

-0.25 (-2.45%)

05/21/19
LEHM
05/21/19
NO CHANGE
Target $13
LEHM
Underweight
SpartanNash price target lowered to $13 from $15 at Barclays
Barclays analyst Karen Short lowered her price target for SpartanNash to $13 from $15 and keeps an Underweight rating on the shares following the company's Q1 results. Some of SpartanNash's issues are self-inflicted, while some are a product of the environment, Short tells investors in a research note. And the analyst does not expect a meaningful change in the latter going forward.
06/25/19
LOOP
06/25/19
INITIATION
Target $15
LOOP
Buy
SpartanNash initiated with a Buy at Loop Capital
Loop Capital analyst Andrew Wolf initiated SpartanNash with a Buy rating and $15 price target, citing his view that management will make progress executing turnarounds at the company's Caito prepared-food operation and its "poorly performing" Georgia distribution facility. He also expects progress on the company's cost savings and sales productivity program and thinks the company has a robust acquisition pipeline, Wolf tells investors.
06/25/19
06/25/19
INITIATION

Fly Intel: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Rockwell Medical (RMTI) initiated with an Overweight at Cantor Fitzgerald. 2. Hamilton Lane (HLNE) initiated with a Perform at Oppenheimer. 3. Pyxus (PYX) initiated with an Outperform at Imperial Capital. 4. SpartanNash (SPTN) initiated with a Buy at Loop Capital. 5. Shake Shack (SHAK), Chipotle (CMG) and McDonald's (MCD) initiated with an Outperform at Credit Suisse. Yum! Brands (YUM) initiated with a Neutral and Jack in the Box (JACK) initiated with an Underperform. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
08/02/19
BMOC
08/02/19
DOWNGRADE
Target $8
BMOC
Underperform
SpartanNash downgraded to Underperform from Market Perform at BMO Capital
BMO Capital analyst Kelly Bania downgraded SpartanNash to Underperform from Market Perform and lowered her price target for the shares to $8 from $13. The outlook for small and regional grocers is becoming "increasingly challenging in a rapidly changing" digital food retail landscape, Bania tells investors in a research note. The analyst reduced her sales forecasts for SpartanNash by 2% to reflect weaker sales in distribution and retail, and she now expects adjusted EBITDA could decline further in fiscal 2020.

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