Spartan Stores Stock To Go Ex-dividend Tomorrow (SPTN)

NEW YORK (TheStreet) -- The ex-dividend date for Spartan Stores (Nasdaq:SPTN) is tomorrow, August 30, 2011. Owners of shares as of market close today will be eligible for a dividend of 7 cents per share. At a price of $14.89 as of 9:30 a.m. ET, the dividend yield is 1.8%.

The average volume for Spartan Stores has been 176,700 shares per day over the past 30 days. Spartan Stores has a market cap of $337.6 million and is part of the services sector and wholesale industry. Shares are down 13.6% year to date as of the close of trading on Friday.

Spartan Stores, Inc. operates as a grocery distributor and grocery retailer principally in Michigan and Indiana. The company operates in two segments, Distribution and Retail. The company has a P/E ratio of 10.3, equal to the average wholesale industry P/E ratio and below the S&P 500 P/E ratio of 17.7.

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TheStreet Ratings rates Spartan Stores as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, reasonable valuation levels, increase in net income, largely solid financial position with reasonable debt levels by most measures and increase in stock price during the past year. We feel these strengths outweigh the fact that the company shows low profit margins. You can view the full Spartan Stores Ratings Report.

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