SpartanNash (NASDAQ:SPTN) Rating Lowered to “Hold” at StockNews.com

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

SpartanNash Trading Down 2.6 %

SpartanNash stock opened at $17.77 on Wednesday. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.62 and a quick ratio of 0.83. The firm has a 50-day moving average of $18.58 and a 200-day moving average of $20.11. The company has a market cap of $599.92 million, a price-to-earnings ratio of 13.36 and a beta of 0.35. SpartanNash has a one year low of $17.30 and a one year high of $23.00.

SpartanNash (NASDAQ:SPTN) last posted its quarterly earnings results on Thursday, November 7th. The company reported $0.48 earnings per share for the quarter, beating analysts’ consensus estimates of $0.47 by $0.01. The firm had revenue of $2.25 billion during the quarter, compared to the consensus estimate of $2.24 billion. SpartanNash had a return on equity of 8.57% and a net margin of 0.48%. The business’s 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. On average, equities analysts expect that SpartanNash will post 1.88 earnings per share for the current fiscal year.

SpartanNash Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 30th. Shareholders of record on Monday, December 9th were paid a $0.2175 dividend. This represents a $0.87 dividend on an annualized basis and a yield of 4.90%. The ex-dividend date was Monday, December 9th. SpartanNash’s dividend payout ratio is currently 65.41%.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Intech Investment Management LLC acquired a new stake in SpartanNash in the 2nd quarter valued at about $237,000. Canada Pension Plan Investment Board acquired a new stake in shares of SpartanNash in the second quarter valued at approximately $34,000. AE Wealth Management LLC bought a new position in shares of SpartanNash during the 2nd quarter worth approximately $200,000. Public Sector Pension Investment Board increased its holdings in shares of SpartanNash by 5.6% during the 2nd quarter. Public Sector Pension Investment Board now owns 75,871 shares of the company’s stock worth $1,423,000 after acquiring an additional 4,019 shares during the last quarter. Finally, Marshall Wace LLP bought a new stake in SpartanNash in the 2nd quarter valued at $638,000. 84.59% of the stock is currently owned by institutional investors and hedge funds.

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.