SpartanNash (NASDAQ:SPTN) Reaches New 12-Month Low at $18.28

Shares of SpartanNash (NASDAQ:SPTN) reached a new 52-week low during trading on Thursday . The stock traded as low as $18.28 and last traded at $18.33, with a volume of 63398 shares changing hands. The stock had previously closed at $18.55.

Analysts Set New Price Targets

Separately, BMO Capital Markets cut their price objective on shares of SpartanNash from $22.00 to $20.00 and set a “market perform” rating on the stock in a report on Friday, May 31st.

SpartanNash Trading Up 1.6 %

The company has a debt-to-equity ratio of 0.78, a current ratio of 1.75 and a quick ratio of 0.84. The company’s fifty day moving average price is $19.61 and its 200-day moving average price is $20.79. The stock has a market cap of $635.81 million, a price-to-earnings ratio of 12.10 and a beta of 0.41.

SpartanNash (NASDAQ:SPTN) last released its earnings results on Thursday, May 30th. The company reported $0.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.52 by $0.01. The firm had revenue of $2.81 billion during the quarter, compared to analyst estimates of $2.86 billion. SpartanNash had a return on equity of 9.22% and a net margin of 0.56%. SpartanNash’s revenue was down 3.6% compared to the same quarter last year. During the same period last year, the business posted $0.64 earnings per share. On average, research analysts expect that SpartanNash will post 1.96 EPS for the current fiscal year.

SpartanNash Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 14th were issued a $0.218 dividend. This is an increase from SpartanNash’s previous quarterly dividend of $0.22. This represents a $0.87 annualized dividend and a dividend yield of 4.65%. The ex-dividend date of this dividend was Friday, June 14th. SpartanNash’s payout ratio is presently 56.13%.

Institutional Trading of SpartanNash

Several institutional investors and hedge funds have recently made changes to their positions in SPTN. Charles Schwab Investment Management Inc. lifted its holdings in shares of SpartanNash by 7.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 444,029 shares of the company’s stock valued at $9,769,000 after purchasing an additional 31,932 shares during the last quarter. HighTower Advisors LLC acquired a new position in SpartanNash in the 3rd quarter valued at about $359,000. PNC Financial Services Group Inc. increased its position in SpartanNash by 132.9% in the 3rd quarter. PNC Financial Services Group Inc. now owns 7,868 shares of the company’s stock valued at $173,000 after acquiring an additional 4,490 shares during the period. Invesco Ltd. increased its position in SpartanNash by 21.8% in the 3rd quarter. Invesco Ltd. now owns 832,250 shares of the company’s stock valued at $18,310,000 after acquiring an additional 149,078 shares during the period. Finally, Hsbc Holdings PLC increased its position in SpartanNash by 48.2% in the 3rd quarter. Hsbc Holdings PLC now owns 58,764 shares of the company’s stock valued at $1,291,000 after acquiring an additional 19,103 shares during the period. 84.59% of the stock is owned by hedge funds and other institutional investors.

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.