Texas Permanent School Fund Corp decreased its holdings in SpartanNash (NASDAQ:SPTN – Free Report) by 2.3% in the 2nd quarter, HoldingsChannel reports. The firm owned 30,910 shares of the company’s stock after selling 725 shares during the quarter. Texas Permanent School Fund Corp’s holdings in SpartanNash were worth $696,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds also recently modified their holdings of the company. Jump Financial LLC lifted its holdings in shares of SpartanNash by 417.5% in the first quarter. Jump Financial LLC now owns 44,797 shares of the company’s stock valued at $1,111,000 after buying an additional 36,140 shares during the period. Burney Co. lifted its holdings in shares of SpartanNash by 4.3% in the first quarter. Burney Co. now owns 46,160 shares of the company’s stock valued at $1,145,000 after buying an additional 1,900 shares during the period. Bank of Montreal Can acquired a new stake in shares of SpartanNash in the second quarter valued at $390,000. Bank of New York Mellon Corp lifted its holdings in shares of SpartanNash by 0.4% in the second quarter. Bank of New York Mellon Corp now owns 518,526 shares of the company’s stock valued at $11,672,000 after buying an additional 2,204 shares during the period. Finally, Gladius Capital Management LP acquired a new stake in shares of SpartanNash in the first quarter valued at $30,000. Institutional investors own 81.49% of the company’s stock.
Wall Street Analyst Weigh In
Several analysts have recently weighed in on SPTN shares. BMO Capital Markets cut their price objective on SpartanNash from $23.00 to $22.00 and set a “market perform” rating for the company in a report on Friday, November 10th. TheStreet downgraded SpartanNash from a “b” rating to a “c+” rating in a report on Wednesday, November 8th. Finally, StockNews.com raised SpartanNash from a “hold” rating to a “buy” rating in a report on Friday. Two research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $26.00.
SpartanNash Trading Up 0.8 %
Shares of NASDAQ SPTN opened at $22.04 on Tuesday. SpartanNash has a 12 month low of $20.51 and a 12 month high of $34.99. The company has a market cap of $763.02 million, a price-to-earnings ratio of 18.07, a P/E/G ratio of 2.64 and a beta of 0.64. The company has a quick ratio of 0.75, a current ratio of 1.59 and a debt-to-equity ratio of 0.69. The business has a fifty day simple moving average of $22.33 and a 200-day simple moving average of $22.41.
SpartanNash (NASDAQ:SPTN – Get Free Report) last announced its quarterly earnings data on Wednesday, November 8th. The company reported $0.54 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.60 by ($0.06). The business had revenue of $2.26 billion during the quarter, compared to analysts’ expectations of $2.31 billion. SpartanNash had a return on equity of 9.66% and a net margin of 0.43%. Sell-side analysts predict that SpartanNash will post 2.21 EPS for the current year.
SpartanNash Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Friday, December 8th will be paid a $0.215 dividend. This represents a $0.86 annualized dividend and a yield of 3.90%. The ex-dividend date of this dividend is Thursday, December 7th. SpartanNash’s dividend payout ratio is currently 70.49%.
SpartanNash Company distributes and retails grocery products. It operates through Wholesale and Retail segments. The Wholesale segment offers grocery products and perishable food products, 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 accounts, food service distributors, e-commerce providers, and corporate owned retail stores.
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