SpartanNash (NASDAQ:SPTN) Stock Price Up 5.8%

SpartanNash Co (NASDAQ:SPTN) rose 5.8% on Wednesday . The stock traded as high as $12.39 and last traded at $12.33, approximately 127,190 shares were traded during trading. A decline of 57% from the average daily volume of 292,886 shares. The stock had previously closed at $11.65.

SPTN has been the subject of several recent analyst reports. Loop Capital initiated coverage on SpartanNash in a research note on Tuesday, June 25th. They set a “buy” rating and a $15.00 target price for the company. BMO Capital Markets cut SpartanNash from a “market perform” rating to an “underperform” rating and cut their target price for the stock from $13.00 to $8.00 in a research note on Friday, August 2nd. Barclays cut their target price on SpartanNash from $13.00 to $8.00 and set an “underweight” rating for the company in a research note on Tuesday, August 13th. BidaskClub cut SpartanNash from a “sell” rating to a “strong sell” rating in a research note on Wednesday, September 4th. Finally, Pivotal Research upgraded SpartanNash from a “sell” rating to a “hold” rating and cut their target price for the stock from $10.00 to $9.00 in a research note on Thursday, August 15th. Three research analysts have rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $13.00.

The company has a market capitalization of $432.01 million, a P/E ratio of 6.36, a PEG ratio of 1.29 and a beta of 1.39. The company has a current ratio of 1.76, a quick ratio of 0.75 and a debt-to-equity ratio of 1.40. The stock has a 50 day moving average price of $10.82 and a 200 day moving average price of $13.56.

SpartanNash (NASDAQ:SPTN) last announced its quarterly earnings results on Wednesday, August 14th. The company reported $0.34 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.34. SpartanNash had a return on equity of 7.07% and a net margin of 0.05%. The company had revenue of $2 billion during the quarter, compared to analysts’ expectations of $2.01 billion. During the same period in the prior year, the company earned $0.56 EPS. SpartanNash’s revenue was up 5.3% compared to the same quarter last year. On average, research analysts predict that SpartanNash Co will post 1.29 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 6.39%. The ex-dividend date is Friday, September 13th. SpartanNash’s payout ratio is 40.64%.

Several institutional investors and hedge funds have recently made changes to their positions in SPTN. BNP Paribas Arbitrage SA lifted its stake in shares of SpartanNash by 126.1% in the 1st quarter. BNP Paribas Arbitrage SA now owns 7,540 shares of the company’s stock valued at $120,000 after acquiring an additional 4,205 shares during the last quarter. Bank of Montreal Can lifted its stake in shares of SpartanNash by 1,076.2% in the 1st quarter. Bank of Montreal Can now owns 72,395 shares of the company’s stock valued at $1,149,000 after acquiring an additional 66,240 shares during the last quarter. SG Americas Securities LLC lifted its stake in shares of SpartanNash by 68.7% in the 1st quarter. SG Americas Securities LLC now owns 26,439 shares of the company’s stock valued at $420,000 after acquiring an additional 10,769 shares during the last quarter. Rhumbline Advisers lifted its stake in shares of SpartanNash by 1.0% in the 1st quarter. Rhumbline Advisers now owns 109,002 shares of the company’s stock valued at $1,730,000 after acquiring an additional 1,039 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. lifted its stake in shares of SpartanNash by 277.0% in the 1st quarter. Robeco Institutional Asset Management B.V. now owns 311,204 shares of the company’s stock valued at $4,940,000 after acquiring an additional 228,646 shares during the last quarter. Institutional investors own 84.24% of the company’s stock.

About SpartanNash (NASDAQ:SPTN)

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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