SpartanNash (NASDAQ:SPTN) Hits New 12-Month Low – Here’s What Happened

SpartanNash (NASDAQ:SPTN) reached a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $17.71 and last traded at $17.86, with a volume of 61937 shares. The stock had previously closed at $18.02.

Analyst Ratings Changes

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

SpartanNash Price Performance

The stock has a market capitalization of $588.35 million, a PE ratio of 13.11 and a beta of 0.35. The company has a quick ratio of 0.83, a current ratio of 1.62 and a debt-to-equity ratio of 0.80. The stock’s 50-day moving average is $18.97 and its 200 day moving average is $20.11.

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

SpartanNash Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 30th. Investors of record on Monday, December 9th were issued a $0.2175 dividend. The ex-dividend date of this dividend was Monday, December 9th. This represents a $0.87 dividend on an annualized basis and a yield of 4.99%. SpartanNash’s dividend payout ratio is currently 65.41%.

Institutional Trading of SpartanNash

Institutional investors have recently added to or reduced their stakes in the business. US Bancorp DE raised its holdings in shares of SpartanNash by 3.6% during the 3rd quarter. US Bancorp DE now owns 16,816 shares of the company’s stock valued at $377,000 after purchasing an additional 587 shares in the last quarter. Creative Planning raised its holdings in SpartanNash by 5.7% during the third quarter. Creative Planning now owns 13,165 shares of the company’s stock valued at $295,000 after buying an additional 708 shares in the last quarter. Signaturefd LLC lifted its position in shares of SpartanNash by 64.9% in the third 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. Martingale Asset Management L P boosted its stake in shares of SpartanNash by 2.2% during the 3rd quarter. Martingale Asset Management L P now owns 48,114 shares of the company’s stock worth $1,078,000 after acquiring an additional 1,040 shares in the last quarter. Finally, Inspire Investing LLC increased its holdings in shares of SpartanNash by 6.1% during the 2nd quarter. Inspire Investing LLC now owns 18,792 shares of the company’s stock valued at $353,000 after acquiring an additional 1,082 shares during the last quarter. 84.59% of the stock is currently owned by institutional investors and hedge funds.

About SpartanNash

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.