SpartanNash (NASDAQ:SPTN) Stock Rating Lowered by StockNews.com

StockNews.com lowered shares of SpartanNash (NASDAQ:SPTN) from a buy rating to a hold rating in a research report released on Wednesday morning.

Separately, Northcoast Research downgraded SpartanNash from a “buy” rating to a “neutral” rating and set a $10.00 price target for the company. in a research note on Wednesday, February 19th.

SpartanNash Stock Down 0.1 %

SPTN opened at $20.03 on Wednesday. The stock has a market cap of $676.31 million, a price-to-earnings ratio of -2,003.00 and a beta of 0.34. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.78 and a current ratio of 1.57. The firm’s fifty day moving average is $19.43 and its 200 day moving average is $19.79. SpartanNash has a fifty-two week low of $17.30 and a fifty-two week high of $23.00.

SpartanNash (NASDAQ:SPTN) last announced its quarterly earnings data on Wednesday, February 12th. The company reported $0.42 EPS for the quarter, beating the consensus estimate of $0.33 by $0.09. During the same period in the previous year, the company earned $0.35 earnings per share. On average, sell-side analysts forecast that SpartanNash will post 1.79 earnings per share for the current fiscal year.

SpartanNash Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Friday, March 21st will be issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 4.39%. The ex-dividend date of this dividend is Friday, March 21st. This is an increase from SpartanNash’s previous quarterly dividend of $0.22. SpartanNash’s dividend payout ratio is -8,800.00%.

Institutional Investors Weigh In On SpartanNash

A number of hedge funds have recently made changes to their positions in SPTN. Nisa Investment Advisors LLC grew its holdings in SpartanNash by 3,585.1% during the 4th quarter. Nisa Investment Advisors LLC now owns 1,732 shares of the company’s stock valued at $32,000 after buying an additional 1,685 shares in the last quarter. State of Wyoming purchased a new position in shares of SpartanNash in the fourth quarter valued at $43,000. Tower Research Capital LLC TRC increased its position in SpartanNash by 167.4% in the fourth quarter. Tower Research Capital LLC TRC now owns 5,966 shares of the company’s stock worth $109,000 after purchasing an additional 3,735 shares during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main purchased a new stake in SpartanNash during the fourth quarter valued at $113,000. Finally, KLP Kapitalforvaltning AS bought a new position in SpartanNash during the fourth quarter valued at $132,000. 84.59% of the stock is currently owned by hedge funds and other institutional investors.

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.