SpartanNash (NASDAQ:SPTN) Shares Down 4.4%

SpartanNash (NASDAQ:SPTN) was down 4.4% during mid-day trading on Wednesday . The company traded as low as $20.82 and last traded at $20.84. Approximately 82,823 shares changed hands during mid-day trading, a decline of 67% from the average daily volume of 250,193 shares. The stock had previously closed at $21.79.

Wall Street Analyst Weigh In

Several research analysts have commented on SPTN shares. StockNews.com upgraded SpartanNash from a “hold” rating to a “buy” rating in a report on Wednesday, September 4th. BMO Capital Markets decreased their price objective on SpartanNash from $22.00 to $20.00 and set a “market perform” rating for the company in a report on Friday, May 31st.

SpartanNash Stock Up 2.4 %

The business’s 50 day moving average is $20.48 and its 200 day moving average is $19.94. The company has a quick ratio of 0.80, a current ratio of 1.62 and a debt-to-equity ratio of 0.76. The company has a market cap of $743.29 million, a P/E ratio of 14.17 and a beta of 0.39.

SpartanNash (NASDAQ:SPTN) last released its quarterly earnings results on Thursday, August 15th. The company reported $0.59 EPS for the quarter, topping the consensus estimate of $0.56 by $0.03. SpartanNash had a return on equity of 8.87% and a net margin of 0.48%. The firm had revenue of $2.23 billion during the quarter, compared to analyst estimates of $2.27 billion. During the same period in the previous year, the company posted $0.65 EPS. The business’s revenue for the quarter was down 3.5% compared to the same quarter last year. As a group, equities analysts anticipate that SpartanNash will post 1.98 earnings per share for the current fiscal year.

SpartanNash Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 4th. Stockholders of record on Monday, September 23rd will be given a $0.218 dividend. This represents a $0.87 dividend on an annualized basis and a dividend yield of 3.96%. The ex-dividend date of this dividend is Monday, September 23rd. SpartanNash’s payout ratio is currently 56.13%.

Institutional Investors Weigh In On SpartanNash

Hedge funds and other institutional investors have recently bought and sold shares of the company. Parallel Advisors LLC increased its position in shares of SpartanNash by 58.3% during the fourth quarter. Parallel Advisors LLC now owns 1,255 shares of the company’s stock worth $29,000 after purchasing an additional 462 shares in the last quarter. Larson Financial Group LLC purchased a new stake in SpartanNash in the first quarter valued at about $30,000. nVerses Capital LLC acquired a new stake in SpartanNash in the second quarter worth about $30,000. Canada Pension Plan Investment Board purchased a new stake in shares of SpartanNash during the second quarter worth about $34,000. Finally, Blue Trust Inc. increased its holdings in shares of SpartanNash by 5,317.6% during the second quarter. Blue Trust Inc. now owns 1,842 shares of the company’s stock valued at $37,000 after acquiring an additional 1,808 shares in the last quarter. Hedge funds and other institutional investors own 84.59% of the company’s stock.

SpartanNash Company Profile

SpartanNash Company distributes and retails grocery products in the United States of America. It operates through Wholesale and Retail segments. The Wholesale segment offers grocery products and perishable food products, including dry groceries, produce, dairy products, meat, delicatessen items, bakery goods, frozen food, seafood, floral products, general merchandise, beverages, tobacco products, health and beauty care, and pharmaceutical products to independent retailers, national accounts, food service distributors, e-commerce providers, and corporate owned retail stores.