SpartanNash (NASDAQ:SPTN) to Issue Quarterly Dividend of $0.22

SpartanNash (NASDAQ:SPTN) announced a quarterly dividend on Tuesday, March 11th, RTT News reports. Investors of record on Friday, March 21st will be given a dividend of 0.22 per share on Wednesday, April 2nd. This represents a $0.88 annualized dividend and a yield of 4.46%. This is a 1.1% increase from SpartanNash’s previous quarterly dividend of $0.22.

SpartanNash has increased its dividend by an average of 2.8% per year over the last three years and has increased its dividend annually for the last 14 consecutive years. SpartanNash has a payout ratio of 48.9% indicating that its dividend is sufficiently covered by earnings. Research analysts expect SpartanNash to earn $1.80 per share next year, which means the company should continue to be able to cover its $0.87 annual dividend with an expected future payout ratio of 48.3%.

SpartanNash Stock Down 0.5 %

NASDAQ:SPTN traded down $0.09 on Wednesday, reaching $19.72. The stock had a trading volume of 29,627 shares, compared to its average volume of 270,210. The company has a 50-day moving average of $18.93 and a 200 day moving average of $19.94. The company has a current ratio of 1.57, a quick ratio of 0.78 and a debt-to-equity ratio of 1.00. The stock has a market cap of $665.85 million, a P/E ratio of -1,973.00 and a beta of 0.34. SpartanNash has a 12-month low of $17.30 and a 12-month high of $23.00.

SpartanNash (NASDAQ:SPTN) last issued its quarterly earnings results on Wednesday, February 12th. The company reported $0.42 EPS for the quarter, beating analysts’ consensus estimates of $0.33 by $0.09. During the same period in the previous year, the company posted $0.35 earnings per share. On average, research analysts predict that SpartanNash will post 1.79 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms have recently weighed in on SPTN. StockNews.com downgraded shares of SpartanNash from a “buy” rating to a “hold” rating in a research report on Thursday, January 30th. Northcoast Research downgraded SpartanNash from a “buy” rating to a “neutral” rating and set a $10.00 target price for the company. in a research note on Wednesday, February 19th.

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.