SpartanNash (NASDAQ:SPTN) Upgraded by StockNews.com to “Buy”

StockNews.com upgraded shares of SpartanNash (NASDAQ:SPTN) from a hold rating to a buy rating in a research report released on Wednesday.

Separately, BMO Capital Markets reduced their price target on shares of SpartanNash from $22.00 to $20.00 and set a market perform rating for the company in a research note on Friday, May 31st.

SpartanNash Stock Performance

Shares of SpartanNash stock opened at $21.66 on Wednesday. SpartanNash has a 1 year low of $17.74 and a 1 year high of $24.51. The firm’s 50-day moving average is $20.91 and its 200 day moving average is $19.98. The stock has a market cap of $734.10 million, a price-to-earnings ratio of 13.97 and a beta of 0.39. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.62 and a quick ratio of 0.80.

SpartanNash (NASDAQ:SPTN) last issued its earnings results on Thursday, August 15th. The company reported $0.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.56 by $0.03. SpartanNash had a net margin of 0.48% and a return on equity of 8.87%. The firm had revenue of $2.23 billion for the quarter, compared to the consensus estimate of $2.27 billion. During the same quarter in the prior year, the firm posted $0.65 earnings per share. The business’s revenue was down 3.5% on a year-over-year basis. Sell-side analysts anticipate that SpartanNash will post 1.98 EPS for the current fiscal year.

SpartanNash Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 4th. Investors of record on Monday, September 23rd will be given a dividend of $0.218 per share. This represents a $0.87 dividend on an annualized basis and a yield of 4.03%. The ex-dividend date is Monday, September 23rd. SpartanNash’s dividend payout ratio (DPR) is presently 56.13%.

Hedge Funds Weigh In On SpartanNash

Institutional investors have recently made changes to their positions in the business. Parallel Advisors LLC grew its position in SpartanNash by 58.3% during the fourth quarter. Parallel Advisors LLC now owns 1,255 shares of the company’s stock valued at $29,000 after buying an additional 462 shares during the period. Larson Financial Group LLC bought a new stake in shares of SpartanNash during the 1st quarter valued at $30,000. nVerses Capital LLC purchased a new stake in shares of SpartanNash in the 2nd quarter worth $30,000. Canada Pension Plan Investment Board bought a new position in SpartanNash in the 2nd quarter worth $34,000. Finally, Blue Trust Inc. lifted its position in SpartanNash by 5,317.6% during the second quarter. Blue Trust Inc. now owns 1,842 shares of the company’s stock valued at $37,000 after purchasing an additional 1,808 shares in the last quarter. 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.