SpartanNash (NASDAQ:SPTN) Trading Down 10.5%

Shares of SpartanNash Co (NASDAQ:SPTN) were down 10.5% on Wednesday . The company traded as low as $12.52 and last traded at $12.66, approximately 1,100,684 shares were traded during trading. An increase of 168% from the average daily volume of 411,435 shares. The stock had previously closed at $14.15.

A number of equities research analysts recently weighed in on SPTN shares. Barclays raised SpartanNash from an “underweight” rating to an “equal weight” rating and set a $15.00 price objective on the stock in a research report on Thursday, March 19th. BMO Capital Markets upgraded SpartanNash from an “underperform” rating to a “market perform” rating and raised their price objective for the stock from $10.00 to $14.00 in a research note on Wednesday, March 18th. ValuEngine upgraded SpartanNash from a “sell” rating to a “hold” rating in a research report on Tuesday, March 17th. BidaskClub upgraded SpartanNash from a “hold” rating to a “buy” rating in a research report on Friday, April 3rd. Finally, Zacks Investment Research upgraded SpartanNash from a “sell” rating to a “hold” rating in a research report on Tuesday, March 10th. Five research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $13.25.

The company has a debt-to-equity ratio of 1.38, a current ratio of 1.76 and a quick ratio of 0.81. The stock has a 50 day moving average price of $12.91 and a 200-day moving average price of $13.04. The stock has a market capitalization of $503.43 million, a price-to-earnings ratio of 79.13 and a beta of 0.86.

SpartanNash (NASDAQ:SPTN) last issued its quarterly earnings results on Wednesday, February 19th. The company reported $0.23 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.27 by ($0.04). The firm had revenue of $2 billion during the quarter, compared to analyst estimates of $2.01 billion. SpartanNash had a return on equity of 5.79% and a net margin of 0.07%. The business’s revenue was up 5.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.32 earnings per share. As a group, research analysts forecast that SpartanNash Co will post 1.14 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 10th were paid a dividend of $0.192 per share. The ex-dividend date of this dividend was Monday, March 9th. This represents a $0.77 dividend on an annualized basis and a yield of 6.07%. This is a positive change from SpartanNash’s previous quarterly dividend of $0.19. SpartanNash’s payout ratio is 70.00%.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. State of Alaska Department of Revenue boosted its stake in SpartanNash by 18.9% during the first quarter. State of Alaska Department of Revenue now owns 32,630 shares of the company’s stock worth $467,000 after buying an additional 5,190 shares during the last quarter. Nuveen Asset Management LLC boosted its stake in SpartanNash by 4.7% during the fourth quarter. Nuveen Asset Management LLC now owns 515,457 shares of the company’s stock worth $7,340,000 after buying an additional 23,253 shares during the last quarter. Norges Bank acquired a new position in SpartanNash during the fourth quarter worth $2,793,000. Total Clarity Wealth Management Inc. acquired a new position in SpartanNash during the fourth quarter worth $75,000. Finally, Geode Capital Management LLC boosted its stake in SpartanNash by 2.7% during the fourth quarter. Geode Capital Management LLC now owns 499,885 shares of the company’s stock worth $7,118,000 after buying an additional 13,036 shares during the last quarter. 78.69% of the stock is currently owned by institutional investors.

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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