Quest Partners LLC Increases Stock Position in SpartanNash (NASDAQ:SPTN)

Quest Partners LLC raised its holdings in SpartanNash (NASDAQ:SPTN) by 66.3% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 15,270 shares of the company’s stock after purchasing an additional 6,088 shares during the period. Quest Partners LLC’s holdings in SpartanNash were worth $342,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the company. US Bancorp DE increased its position in SpartanNash by 3.6% during the third quarter. US Bancorp DE now owns 16,816 shares of the company’s stock worth $377,000 after purchasing an additional 587 shares during the last quarter. Creative Planning increased its position in shares of SpartanNash by 5.7% in the third quarter. Creative Planning now owns 13,165 shares of the company’s stock worth $295,000 after acquiring an additional 708 shares in the last quarter. Signaturefd LLC increased its position in shares of SpartanNash by 64.9% in the third quarter. Signaturefd LLC now owns 1,801 shares of the company’s stock worth $40,000 after acquiring an additional 709 shares in the last quarter. SummerHaven Investment Management LLC increased its position in shares of SpartanNash by 2.2% in the second quarter. SummerHaven Investment Management LLC now owns 34,421 shares of the company’s stock worth $646,000 after acquiring an additional 752 shares in the last quarter. Finally, Inspire Investing LLC increased its position in shares of SpartanNash by 6.1% in the second quarter. Inspire Investing LLC now owns 18,792 shares of the company’s stock worth $353,000 after acquiring an additional 1,082 shares in the last quarter. Hedge funds and other institutional investors own 84.59% of the company’s stock.

SpartanNash Price Performance

SPTN opened at $19.09 on Tuesday. The company has a fifty day simple moving average of $20.90 and a 200 day simple moving average of $20.36. The firm has a market cap of $644.38 million, a price-to-earnings ratio of 14.35 and a beta of 0.39. SpartanNash has a twelve month low of $17.74 and a twelve month high of $24.51. The company has a current ratio of 1.62, a quick ratio of 0.83 and a debt-to-equity ratio of 0.80.

SpartanNash (NASDAQ:SPTN) last released its quarterly earnings results on Thursday, November 7th. The company reported $0.48 earnings per share for the quarter, beating analysts’ consensus estimates of $0.47 by $0.01. SpartanNash had a net margin of 0.48% and a return on equity of 8.57%. The business had revenue of $2.25 billion during the quarter, compared to analyst estimates of $2.24 billion. During the same period last year, the business earned $0.54 EPS. The business’s revenue was down .6% on a year-over-year basis. Equities research analysts expect that SpartanNash will post 1.88 EPS for the current fiscal year.

SpartanNash Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Monday, December 9th will be given a $0.2175 dividend. The ex-dividend date is Monday, December 9th. This represents a $0.87 dividend on an annualized basis and a dividend yield of 4.56%. SpartanNash’s payout ratio is currently 65.41%.

Analyst Upgrades and Downgrades

Separately, StockNews.com lowered shares of SpartanNash from a “buy” rating to a “hold” rating in a research report on Friday, November 8th.

About SpartanNash

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.