SpartanNash (NASDAQ:SPTN) Downgraded to “Hold” Rating by StockNews.com

StockNews.com lowered shares of SpartanNash (NASDAQ:SPTN) from a buy rating to a hold rating in a research report released on Thursday morning.

SpartanNash Trading Down 0.1 %

SPTN stock opened at $18.45 on Thursday. The firm has a fifty day moving average price of $18.57 and a 200 day moving average price of $20.09. SpartanNash has a fifty-two week low of $17.30 and a fifty-two week high of $23.00. The firm has a market cap of $622.87 million, a PE ratio of 13.87 and a beta of 0.35. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.83 and a current ratio of 1.62.

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

SpartanNash Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 30th. Stockholders of record on Monday, December 9th were paid a $0.2175 dividend. This represents a $0.87 annualized dividend and a dividend yield of 4.72%. The ex-dividend date was Monday, December 9th. SpartanNash’s payout ratio is 65.41%.

Hedge Funds Weigh In On SpartanNash

Several large investors have recently modified their holdings of SPTN. Ellsworth Advisors LLC boosted its stake in SpartanNash by 0.8% during the third quarter. Ellsworth Advisors LLC now owns 223,742 shares of the company’s stock worth $5,014,000 after buying an additional 1,803 shares during the period. AQR Capital Management LLC lifted its holdings in shares of SpartanNash by 17.8% in the 2nd quarter. AQR Capital Management LLC now owns 197,551 shares of the company’s stock worth $3,706,000 after acquiring an additional 29,849 shares during the last quarter. Dean Investment Associates LLC boosted its stake in shares of SpartanNash by 54.2% during the 3rd quarter. Dean Investment Associates LLC now owns 188,335 shares of the company’s stock worth $4,221,000 after purchasing an additional 66,178 shares during the period. Foundry Partners LLC grew its holdings in SpartanNash by 16.5% during the 3rd quarter. Foundry Partners LLC now owns 186,680 shares of the company’s stock valued at $4,183,000 after purchasing an additional 26,375 shares during the last quarter. Finally, Empowered Funds LLC raised its position in SpartanNash by 5.1% in the 4th quarter. Empowered Funds LLC now owns 178,347 shares of the company’s stock worth $3,267,000 after purchasing an additional 8,652 shares during the period. Institutional investors own 84.59% of the company’s stock.

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.