Short Interest in SpartanNash Co (NASDAQ:SPTN) Decreases By 25.0%

SpartanNash Co (NASDAQ:SPTN) was the target of a large decline in short interest during the month of July. As of July 31st, there was short interest totalling 621,700 shares, a decline of 25.0% from the June 30th total of 829,000 shares. Currently, 1.8% of the shares of the company are short sold. Based on an average daily trading volume, of 333,600 shares, the days-to-cover ratio is currently 1.9 days.

Shares of NASDAQ SPTN traded down $0.47 during midday trading on Wednesday, hitting $8.94. 433,185 shares of the company’s stock traded hands, compared to its average volume of 273,219. SpartanNash has a 1 year low of $8.82 and a 1 year high of $24.11. The stock has a market capitalization of $324.65 million, a PE ratio of 4.78, a price-to-earnings-growth ratio of 1.07 and a beta of 1.37. The company has a debt-to-equity ratio of 1.49, a current ratio of 1.90 and a quick ratio of 0.82. The company has a fifty day moving average price of $11.04.

SpartanNash (NASDAQ:SPTN) last released its quarterly earnings results on Monday, May 20th. The company reported $0.24 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.23 by $0.01. SpartanNash had a net margin of 0.35% and a return on equity of 7.77%. The firm had revenue of $2.54 billion during the quarter, compared to analyst estimates of $2.51 billion. During the same quarter in the prior year, the firm earned $0.55 EPS. The business’s revenue for the quarter was up 6.6% compared to the same quarter last year. On average, analysts predict that SpartanNash will post 1.33 EPS for the current year.

Several large investors have recently made changes to their positions in SPTN. Citadel Advisors LLC boosted its stake in SpartanNash by 110.3% in the 2nd quarter. Citadel Advisors LLC now owns 251,710 shares of the company’s stock worth $2,938,000 after purchasing an additional 131,995 shares during the period. D. E. Shaw & Co. Inc. boosted its stake in SpartanNash by 941.4% in the 2nd quarter. D. E. Shaw & Co. Inc. now owns 122,250 shares of the company’s stock worth $1,427,000 after purchasing an additional 110,511 shares during the period. Cubist Systematic Strategies LLC boosted its stake in SpartanNash by 330.5% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 65,004 shares of the company’s stock worth $759,000 after purchasing an additional 49,905 shares during the period. Marshall Wace LLP bought a new position in shares of SpartanNash during the 2nd quarter valued at approximately $449,000. Finally, Morgan Stanley boosted its position in shares of SpartanNash by 35.6% during the 2nd quarter. Morgan Stanley now owns 244,197 shares of the company’s stock valued at $2,850,000 after acquiring an additional 64,153 shares during the last quarter. Institutional investors own 84.63% of the company’s stock.

SPTN has been the subject of a number of recent analyst reports. BidaskClub raised SpartanNash from a “strong sell” rating to a “sell” rating in a research report on Wednesday, July 31st. Barclays reduced their price target on shares of SpartanNash from $13.00 to $8.00 and set an “underweight” rating for the company in a research report on Tuesday. BMO Capital Markets lowered shares of SpartanNash from a “market perform” rating to an “underperform” rating and reduced their price target for the company from $13.00 to $8.00 in a research report on Friday, August 2nd. Zacks Investment Research lowered shares of SpartanNash from a “hold” rating to a “sell” rating in a research report on Tuesday, May 7th. Finally, ValuEngine raised shares of SpartanNash from a “strong sell” rating to a “sell” rating in a research report on Thursday, August 1st. Six research analysts have rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company’s stock. SpartanNash has an average rating of “Hold” and an average price target of $14.33.

About SpartanNash

SpartanNash Company distributes and retails grocery products. It operates in three segments: Food Distribution, Military, and Retail. The Food Distribution segment offers approximately 60,000 stock-keeping units, such as 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 pharmacy products to independent retailers, national retailers, food service distributors, e-commerce providers, and corporate owned retail stores.

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