SpartanNash (NASDAQ:SPTN) Cut to Hold at StockNews.com

SpartanNash (NASDAQ:SPTN) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a research note issued to investors on Friday.

SpartanNash Price Performance

Shares of NASDAQ SPTN opened at $18.94 on Friday. The stock’s 50-day moving average is $21.62 and its two-hundred day moving average is $20.43. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.62 and a quick ratio of 0.80. SpartanNash has a 1-year low of $17.74 and a 1-year high of $24.51. The company has a market cap of $639.13 million, a price-to-earnings ratio of 14.24 and a beta of 0.39.

SpartanNash (NASDAQ:SPTN) last released its quarterly earnings data on Thursday, November 7th. The company reported $0.48 EPS for the quarter, beating analysts’ consensus estimates of $0.47 by $0.01. SpartanNash had a return on equity of 8.87% and a net margin of 0.48%. The business had revenue of $2.25 billion for the quarter, compared to the consensus estimate of $2.24 billion. During the same quarter in the prior year, the business posted $0.54 EPS. The business’s revenue for the quarter was down .6% on a year-over-year basis. Analysts forecast that SpartanNash will post 1.98 EPS for the current fiscal year.

Institutional Investors Weigh In On SpartanNash

Several hedge funds and other institutional investors have recently made changes to their positions in SPTN. nVerses Capital LLC purchased a new position in SpartanNash during the 2nd quarter worth approximately $30,000. Canada Pension Plan Investment Board purchased a new position in SpartanNash during the 2nd quarter worth approximately $34,000. Blue Trust Inc. grew its stake in SpartanNash by 5,317.6% during the 2nd quarter. Blue Trust Inc. now owns 1,842 shares of the company’s stock worth $37,000 after buying an additional 1,808 shares during the last quarter. Signaturefd LLC grew its stake in SpartanNash by 64.9% during the 3rd quarter. Signaturefd LLC now owns 1,801 shares of the company’s stock worth $40,000 after buying an additional 709 shares during the last quarter. Finally, GAMMA Investing LLC grew its stake in SpartanNash by 114.4% during the 2nd quarter. GAMMA Investing LLC now owns 2,380 shares of the company’s stock worth $45,000 after buying an additional 1,270 shares during the last quarter. Institutional investors and hedge funds 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.