SpartanNash Announces Quarterly Dividend of $0.22 (NASDAQ:SPTN)

SpartanNash (NASDAQ:SPTN) declared a quarterly dividend on Thursday, May 22nd, RTT News reports. Stockholders of record on Friday, June 13th will be paid a dividend of 0.22 per share on Monday, June 30th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 4.64%.

SpartanNash has raised its dividend by an average of 2.8% per year over the last three years and has raised its dividend every year for the last 15 years. SpartanNash has a dividend payout ratio of 48.6% meaning its dividend is sufficiently covered by earnings. Analysts expect SpartanNash to earn $1.80 per share next year, which means the company should continue to be able to cover its $0.88 annual dividend with an expected future payout ratio of 48.9%.

SpartanNash Trading Down 2.5%

SpartanNash stock opened at $18.96 on Friday. The stock has a 50-day moving average price of $19.68 and a 200 day moving average price of $19.24. The company has a market capitalization of $641.72 million, a price-to-earnings ratio of -1,896.00 and a beta of 0.42. SpartanNash has a 52 week low of $17.30 and a 52 week high of $23.00. The company has a quick ratio of 0.78, a current ratio of 1.57 and a debt-to-equity ratio of 1.00.

Hedge Funds Weigh In On SpartanNash

A number of institutional investors have recently modified their holdings of SPTN. Jane Street Group LLC boosted its stake in shares of SpartanNash by 130.0% in the first quarter. Jane Street Group LLC now owns 57,908 shares of the company’s stock worth $1,173,000 after buying an additional 32,727 shares during the last quarter. Millennium Management LLC raised its position in SpartanNash by 837.8% during the first quarter. Millennium Management LLC now owns 515,436 shares of the company’s stock valued at $10,443,000 after acquiring an additional 460,474 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in SpartanNash by 4.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 20,056 shares of the company’s stock valued at $406,000 after acquiring an additional 858 shares during the period. Finally, AQR Capital Management LLC boosted its position in SpartanNash by 2.4% in the 1st quarter. AQR Capital Management LLC now owns 140,160 shares of the company’s stock worth $2,840,000 after purchasing an additional 3,349 shares in the last quarter. Hedge funds and other institutional investors own 84.59% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. Northcoast Research lowered shares of SpartanNash from a “buy” rating to a “neutral” rating and set a $10.00 price target for the company. in a research report on Wednesday, February 19th. Wall Street Zen lowered shares of SpartanNash from a “buy” rating to a “hold” rating in a research note on Tuesday, May 13th.

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.