SpartanNash (NASDAQ:SPTN) Stock Price Down 11% – What’s Next?

Shares of SpartanNash (NASDAQ:SPTN) fell 11% during mid-day trading on Thursday . The stock traded as low as $19.65 and last traded at $20.10. 84,793 shares changed hands during trading, a decline of 65% from the average session volume of 245,342 shares. The stock had previously closed at $22.59.

Analysts Set New Price Targets

Separately, StockNews.com cut SpartanNash from a “buy” rating to a “hold” rating in a research report on Friday.

SpartanNash Price Performance

The stock has a market capitalization of $639.13 million, a P/E ratio of 14.24 and a beta of 0.39. The firm has a fifty day moving average price of $21.62 and a two-hundred day moving average price of $20.42. The company has a quick ratio of 0.80, a current ratio of 1.62 and a debt-to-equity ratio of 0.76.

SpartanNash (NASDAQ:SPTN) last issued its earnings results on Thursday, November 7th. The company reported $0.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.47 by $0.01. SpartanNash had a net margin of 0.48% and a return on equity of 8.87%. The business had revenue of $2.25 billion during the quarter, compared to analysts’ expectations of $2.24 billion. During the same period in the previous year, the company earned $0.54 earnings per share. The business’s revenue for the quarter was down .6% compared to the same quarter last year. On average, analysts expect that SpartanNash will post 1.98 EPS for the current year.

SpartanNash Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, October 4th. Shareholders of record on Monday, September 23rd were issued a $0.218 dividend. This represents a $0.87 dividend on an annualized basis and a dividend yield of 4.60%. The ex-dividend date was Monday, September 23rd. SpartanNash’s payout ratio is 65.41%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Foundry Partners LLC raised its position in SpartanNash by 16.5% in the 3rd quarter. Foundry Partners LLC now owns 186,680 shares of the company’s stock worth $4,183,000 after buying an additional 26,375 shares during the last quarter. Intech Investment Management LLC boosted its holdings in SpartanNash by 64.3% in the third quarter. Intech Investment Management LLC now owns 20,769 shares of the company’s stock worth $465,000 after purchasing an additional 8,125 shares during the last quarter. Segall Bryant & Hamill LLC purchased a new stake in SpartanNash during the 3rd quarter valued at $1,802,000. Quest Partners LLC lifted its holdings in SpartanNash by 66.3% in the third quarter. Quest Partners LLC now owns 15,270 shares of the company’s stock valued at $342,000 after acquiring an additional 6,088 shares during the period. Finally, Empowered Funds LLC raised its stake in shares of SpartanNash by 5.3% in the third quarter. Empowered Funds LLC now owns 169,695 shares of the company’s stock worth $3,803,000 after buying an additional 8,576 shares during the period. 84.59% of the stock is owned by institutional investors.

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.