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

NEW YORK (TheStreet) -- The ex-dividend date for Spartan Stores (Nasdaq:SPTN) is tomorrow, November 29, 2011. Owners of shares as of market close today will be eligible for a dividend of 7 cents per share. At a price of $16.70 as of 9:30 a.m. ET, the dividend yield is 1.6%.

The average volume for Spartan Stores has been 119,400 shares per day over the past 30 days. Spartan Stores has a market cap of $393.7 million and is part of the services sector and wholesale industry. Shares are down 3.5% year to date as of the close of trading on Friday.

Spartan Stores, Inc. operates as a grocery distributor and retailer principally in Michigan and Indiana. The company operates in two segments, Distribution and Retail. The company has a P/E ratio of 12, below the average wholesale industry P/E ratio of 12.6 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, attractive valuation levels, good cash flow from operations, largely solid financial position with reasonable debt levels by most measures and solid stock price performance. We feel these strengths outweigh the fact that the company has had sub par growth in net income. You can view the full Spartan Stores Ratings Report.

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