SpartanNash (NASDAQ:SPTN) Reaches New 12-Month Low at $18.28

SpartanNash (NASDAQ:SPTN)’s stock price hit a new 52-week low on Thursday . The company traded as low as $18.28 and last traded at $18.33, with a volume of 63398 shares trading hands. The stock had previously closed at $18.55.

Analyst Upgrades and Downgrades

Separately, BMO Capital Markets cut their price target on shares of SpartanNash from $22.00 to $20.00 and set a “market perform” rating on the stock in a research report on Friday, May 31st.

SpartanNash Stock Up 1.6 %

The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.84 and a current ratio of 1.75. The stock has a market capitalization of $635.81 million, a price-to-earnings ratio of 12.10 and a beta of 0.41. The firm’s fifty day simple moving average is $19.61 and its 200 day simple moving average is $20.79.

SpartanNash (NASDAQ:SPTN) last issued its quarterly earnings results on Thursday, May 30th. The company reported $0.53 earnings per share for the quarter, topping the consensus estimate of $0.52 by $0.01. The company had revenue of $2.81 billion during the quarter, compared to analysts’ expectations of $2.86 billion. SpartanNash had a net margin of 0.56% and a return on equity of 9.22%. The business’s quarterly revenue was down 3.6% on a year-over-year basis. During the same period last year, the business earned $0.64 EPS. On average, sell-side analysts forecast that SpartanNash will post 1.96 earnings per share for the current year.

SpartanNash Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 14th were paid a dividend of $0.218 per share. This is a boost from SpartanNash’s previous quarterly dividend of $0.22. This represents a $0.87 annualized dividend and a dividend yield of 4.65%. The ex-dividend date of this dividend was Friday, June 14th. SpartanNash’s dividend payout ratio (DPR) is currently 56.13%.

Hedge Funds Weigh In On SpartanNash

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Parallel Advisors LLC grew its stake in shares of SpartanNash by 58.3% in the fourth quarter. Parallel Advisors LLC now owns 1,255 shares of the company’s stock valued at $29,000 after buying an additional 462 shares in the last quarter. SummerHaven Investment Management LLC grew its stake in shares of SpartanNash by 1.4% in the fourth quarter. SummerHaven Investment Management LLC now owns 33,259 shares of the company’s stock valued at $763,000 after buying an additional 473 shares in the last quarter. Exchange Traded Concepts LLC grew its stake in shares of SpartanNash by 0.8% in the fourth quarter. Exchange Traded Concepts LLC now owns 60,598 shares of the company’s stock valued at $1,391,000 after buying an additional 481 shares in the last quarter. New York State Teachers Retirement System grew its stake in shares of SpartanNash by 1.0% in the fourth quarter. New York State Teachers Retirement System now owns 77,481 shares of the company’s stock valued at $1,778,000 after buying an additional 755 shares in the last quarter. Finally, Illinois Municipal Retirement Fund grew its stake in shares of SpartanNash by 5.1% in the first quarter. Illinois Municipal Retirement Fund now owns 20,671 shares of the company’s stock valued at $418,000 after buying an additional 1,007 shares in the last quarter. 84.59% of the stock is owned by institutional investors.

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.