SpartanNash (NASDAQ:SPTN) Hits New 1-Year Low – Here’s Why

SpartanNash (NASDAQ:SPTN) shares reached a new 52-week low on Wednesday . The stock traded as low as $17.71 and last traded at $17.86, with a volume of 61937 shares traded. The stock had previously closed at $18.02.

Analyst Ratings Changes

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

SpartanNash Price Performance

The company has a 50 day moving average of $19.09 and a two-hundred day moving average of $20.14. The firm has a market cap of $608.27 million, a P/E ratio of 13.55 and a beta of 0.35. The company has a quick ratio of 0.83, a current ratio of 1.62 and a debt-to-equity ratio of 0.80.

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

SpartanNash Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 30th. Shareholders of record on Monday, December 9th were given a dividend of $0.2175 per share. This represents a $0.87 annualized dividend and a yield of 4.83%. The ex-dividend date of this dividend was Monday, December 9th. SpartanNash’s payout ratio is 65.41%.

Institutional Investors Weigh In On SpartanNash

Hedge funds have recently bought and sold shares of the business. Canada Pension Plan Investment Board bought a new stake in shares of SpartanNash in the 2nd quarter valued at approximately $34,000. Signaturefd LLC increased its stake in shares of SpartanNash by 64.9% during the 3rd quarter. Signaturefd LLC now owns 1,801 shares of the company’s stock worth $40,000 after purchasing an additional 709 shares during the last quarter. GAMMA Investing LLC lifted its stake in shares of SpartanNash by 64.7% in the 3rd quarter. GAMMA Investing LLC now owns 3,920 shares of the company’s stock valued at $88,000 after purchasing an additional 1,540 shares during the last quarter. Point72 Hong Kong Ltd bought a new stake in SpartanNash in the second quarter worth $79,000. Finally, Blue Trust Inc. increased its position in SpartanNash by 308.8% during the third quarter. Blue Trust Inc. now owns 7,531 shares of the company’s stock worth $169,000 after buying an additional 5,689 shares during the last quarter. 84.59% of the stock is owned by hedge funds and other 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.