SpartanNash (NASDAQ:SPTN) Trading Up 6.3%

SpartanNash Co (NASDAQ:SPTN)’s stock price was up 6.3% during mid-day trading on Monday . The company traded as high as $13.06 and last traded at $13.04, approximately 411,564 shares traded hands during mid-day trading. An increase of 35% from the average daily volume of 305,186 shares. The stock had previously closed at $12.27.

A number of equities research analysts recently issued reports on SPTN shares. Barclays decreased their price objective on shares of SpartanNash from $13.00 to $8.00 and set an “underweight” rating for the company in a report on Tuesday, August 13th. Zacks Investment Research upgraded shares of SpartanNash from a “sell” rating to a “hold” rating in a report on Thursday, August 22nd. TheStreet cut shares of SpartanNash from a “c” rating to a “d+” rating in a report on Wednesday, August 14th. Pivotal Research upgraded shares of SpartanNash from a “sell” rating to a “hold” rating and decreased their price objective for the stock from $10.00 to $9.00 in a report on Thursday, August 15th. Finally, BidaskClub upgraded shares of SpartanNash from a “strong sell” rating to a “sell” rating in a report on Thursday, October 10th. Three equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the stock. SpartanNash presently has an average rating of “Hold” and a consensus price target of $13.00.

The company has a debt-to-equity ratio of 1.40, a current ratio of 1.76 and a quick ratio of 0.75. The stock’s fifty day simple moving average is $11.80 and its 200-day simple moving average is $12.61. The company has a market capitalization of $459.94 million, a P/E ratio of 6.97, a PEG ratio of 1.40 and a beta of 1.39.

SpartanNash (NASDAQ:SPTN) last released its quarterly earnings results on Wednesday, August 14th. The company reported $0.34 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.34. SpartanNash had a net margin of 0.05% and a return on equity of 7.07%. 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 earnings per share. The business’s quarterly revenue was up 5.3% compared to the same quarter last year. On average, research analysts predict that SpartanNash Co will post 1.29 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were issued a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 5.83%. The ex-dividend date was Friday, September 13th. SpartanNash’s dividend payout ratio (DPR) is 40.64%.

A number of hedge funds have recently added to or reduced their stakes in the business. Nuveen Asset Management LLC bought a new position in SpartanNash in the second quarter valued at approximately $5,803,000. Invesco Ltd. boosted its holdings in shares of SpartanNash by 53.7% during the 2nd quarter. Invesco Ltd. now owns 817,636 shares of the company’s stock valued at $9,542,000 after buying an additional 285,630 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of SpartanNash by 9.1% during the 2nd quarter. Vanguard Group Inc. now owns 2,681,176 shares of the company’s stock valued at $31,288,000 after buying an additional 223,193 shares in the last quarter. Renaissance Technologies LLC boosted its holdings in shares of SpartanNash by 115.1% during the 2nd quarter. Renaissance Technologies LLC now owns 411,678 shares of the company’s stock valued at $4,804,000 after buying an additional 220,266 shares in the last quarter. Finally, Assenagon Asset Management S.A. bought a new stake in shares of SpartanNash during the 3rd quarter valued at $1,862,000. Institutional investors own 83.66% of the company’s stock.

SpartanNash Company Profile (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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