SpartanNash (NASDAQ:SPTN) Rating Lowered to Hold at StockNews.com

SpartanNash (NASDAQ:SPTN) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a note issued to investors on Friday.

SpartanNash Stock Down 4.2 %

SpartanNash stock opened at $18.94 on Friday. The stock has a market capitalization of $639.13 million, a PE ratio of 14.24 and a beta of 0.39. SpartanNash has a 12 month low of $17.74 and a 12 month high of $24.51. The business has a 50 day simple moving average of $21.62 and a 200-day simple moving average of $20.43. 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 quarterly earnings results on Thursday, November 7th. The company reported $0.48 EPS for the quarter, topping the consensus estimate of $0.47 by $0.01. SpartanNash had a return on equity of 8.87% and a net margin of 0.48%. The firm 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 business earned $0.54 earnings per share. The firm’s revenue for the quarter was down .6% on a year-over-year basis. On average, analysts anticipate that SpartanNash will post 1.98 EPS for the current fiscal year.

Hedge Funds Weigh In On SpartanNash

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SPTN. American Century Companies Inc. boosted its stake in SpartanNash by 20.0% during the second quarter. American Century Companies Inc. now owns 744,282 shares of the company’s stock worth $13,963,000 after buying an additional 123,952 shares during the last quarter. Segall Bryant & Hamill LLC acquired a new position in shares of SpartanNash in the 3rd quarter valued at $1,802,000. Dana Investment Advisors Inc. lifted its stake in shares of SpartanNash by 14.5% in the 2nd quarter. Dana Investment Advisors Inc. now owns 328,357 shares of the company’s stock valued at $6,160,000 after purchasing an additional 41,619 shares during the last quarter. SageView Advisory Group LLC purchased a new stake in shares of SpartanNash in the 1st quarter valued at $789,000. Finally, Foundry Partners LLC raised its holdings in shares of SpartanNash by 31.5% in the 2nd quarter. Foundry Partners LLC now owns 160,305 shares of the company’s stock valued at $3,007,000 after buying an additional 38,425 shares during the period. Institutional investors and hedge funds own 84.59% of the company’s stock.

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.