SpartanNash (NASDAQ:SPTN) Shares Gap Down – What’s Next?

SpartanNash (NASDAQ:SPTN) shares gapped down prior to trading on Wednesday . The stock had previously closed at $19.76, but opened at $18.86. SpartanNash shares last traded at $19.24, with a volume of 55,091 shares trading hands.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on SPTN shares. StockNews.com cut SpartanNash from a “buy” rating to a “hold” rating in a report on Thursday, January 30th. Northcoast Research lowered SpartanNash from a “buy” rating to a “neutral” rating and set a $10.00 price target on the stock. in a research note on Wednesday.

SpartanNash Stock Down 2.8 %

The stock has a market cap of $648.53 million, a price-to-earnings ratio of -1,916.50 and a beta of 0.34. The firm’s 50-day moving average is $18.64 and its 200 day moving average is $19.98. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.57 and a quick ratio of 0.78.

SpartanNash (NASDAQ:SPTN) last issued its earnings results on Wednesday, February 12th. The company reported $0.42 earnings per share for the quarter, topping the consensus estimate of $0.33 by $0.09. During the same period in the previous year, the business earned $0.35 earnings per share. Sell-side analysts anticipate that SpartanNash will post 1.79 earnings per share for the current fiscal year.

Institutional Trading of SpartanNash

Institutional investors have recently modified their holdings of the company. Nisa Investment Advisors LLC lifted its position in SpartanNash by 3,585.1% during the fourth quarter. Nisa Investment Advisors LLC now owns 1,732 shares of the company’s stock valued at $32,000 after buying an additional 1,685 shares in the last quarter. Signaturefd LLC raised its stake in shares of SpartanNash by 64.9% in the 3rd quarter. Signaturefd LLC now owns 1,801 shares of the company’s stock valued at $40,000 after acquiring an additional 709 shares during the period. State of Wyoming acquired a new position in shares of SpartanNash during the 4th quarter valued at $43,000. Tower Research Capital LLC TRC boosted its position in SpartanNash by 167.4% during the 4th quarter. Tower Research Capital LLC TRC now owns 5,966 shares of the company’s stock worth $109,000 after purchasing an additional 3,735 shares during the period. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main acquired a new stake in SpartanNash in the 4th quarter valued at $113,000. Hedge funds and other institutional investors own 84.59% of the company’s stock.

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.