SpartanNash (NASDAQ:SPTN) Stock Price Down 4.4% – Here’s What Happened

SpartanNash (NASDAQ:SPTN)’s share price fell 4.4% during trading on Monday . The company traded as low as $18.50 and last traded at $18.54. 224,412 shares were traded during mid-day trading, a decline of 12% from the average session volume of 253,761 shares. The stock had previously closed at $19.40.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut shares of SpartanNash from a “buy” rating to a “hold” rating in a report on Friday, November 8th.

SpartanNash Stock Performance

The company has a market capitalization of $625.14 million, a price-to-earnings ratio of 13.92 and a beta of 0.35. The stock has a 50 day simple moving average of $19.84 and a 200 day simple moving average of $20.20. The company has a quick ratio of 0.83, a current ratio of 1.62 and a debt-to-equity ratio of 0.80.

SpartanNash (NASDAQ:SPTN) last released its quarterly earnings data on Thursday, November 7th. The company reported $0.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.47 by $0.01. SpartanNash had a return on equity of 8.57% and a net margin of 0.48%. The business had revenue of $2.25 billion during the quarter, compared to analyst estimates of $2.24 billion. During the same quarter in the previous year, the firm posted $0.54 EPS. The business’s revenue for the quarter was down .6% compared to the same quarter last year. As a group, analysts anticipate that SpartanNash will post 1.88 earnings per share for the current fiscal year.

SpartanNash Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Monday, December 9th will be given a $0.2175 dividend. The ex-dividend date of this dividend is Monday, December 9th. This represents a $0.87 annualized dividend and a yield of 4.70%. SpartanNash’s dividend payout ratio is presently 65.41%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of SPTN. Franklin Resources Inc. bought a new stake in shares of SpartanNash during the third quarter valued at approximately $211,000. Barclays PLC raised its stake in SpartanNash by 120.0% during the 3rd quarter. Barclays PLC now owns 86,412 shares of the company’s stock valued at $1,936,000 after acquiring an additional 47,141 shares in the last quarter. Dean Investment Associates LLC boosted its position in SpartanNash by 54.2% during the 3rd quarter. Dean Investment Associates LLC now owns 188,335 shares of the company’s stock worth $4,221,000 after acquiring an additional 66,178 shares during the period. Stifel Financial Corp increased its holdings in shares of SpartanNash by 14.7% during the third quarter. Stifel Financial Corp now owns 47,240 shares of the company’s stock valued at $1,059,000 after purchasing an additional 6,058 shares during the period. Finally, Atom Investors LP bought a new stake in shares of SpartanNash during the third quarter valued at about $419,000. 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.