MBM Wealth Consultants LLC Grows Stake in SpartanNash (NASDAQ:SPTN)

MBM Wealth Consultants LLC grew its holdings in SpartanNash (NASDAQ:SPTNGet Rating) by 30.6% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 2,670 shares of the company’s stock after buying an additional 625 shares during the quarter. MBM Wealth Consultants LLC’s holdings in SpartanNash were worth $88,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Reitz Capital Advisors LLC bought a new position in shares of SpartanNash in the 1st quarter worth approximately $138,000. US Bancorp DE raised its position in shares of SpartanNash by 10.7% in the 1st quarter. US Bancorp DE now owns 5,275 shares of the company’s stock worth $174,000 after acquiring an additional 508 shares in the last quarter. Gotham Asset Management LLC bought a new position in shares of SpartanNash in the 4th quarter worth approximately $217,000. Private Advisor Group LLC bought a new position in shares of SpartanNash in the 1st quarter worth approximately $235,000. Finally, Bailard Inc. bought a new position in shares of SpartanNash in the 1st quarter worth approximately $237,000. Hedge funds and other institutional investors own 87.71% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Deutsche Bank Aktiengesellschaft increased their target price on SpartanNash from $26.00 to $36.00 and gave the stock a “hold” rating in a research report on Tuesday, September 6th. BMO Capital Markets increased their target price on SpartanNash from $29.00 to $31.00 and gave the stock a “market perform” rating in a research report on Friday, August 19th. Finally, StockNews.com raised SpartanNash from a “hold” rating to a “buy” rating in a research report on Sunday, June 19th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $27.83.

Insiders Place Their Bets

In other SpartanNash news, Director Hawthorne L. Proctor sold 4,500 shares of SpartanNash stock in a transaction on Tuesday, August 23rd. The stock was sold at an average price of $31.27, for a total value of $140,715.00. Following the completion of the sale, the director now owns 30,708 shares of the company’s stock, valued at approximately $960,239.16. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, Director Hawthorne L. Proctor sold 4,500 shares of the firm’s stock in a transaction on Tuesday, August 23rd. The stock was sold at an average price of $31.27, for a total value of $140,715.00. Following the transaction, the director now directly owns 30,708 shares in the company, valued at approximately $960,239.16. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Matthew Mannelly sold 10,000 shares of the firm’s stock in a transaction on Tuesday, June 14th. The stock was sold at an average price of $31.06, for a total value of $310,600.00. Following the completion of the transaction, the director now owns 20,354 shares in the company, valued at $632,195.24. The disclosure for this sale can be found here. Corporate insiders own 1.80% of the company’s stock.

SpartanNash Stock Up 1.4 %

SPTN stock opened at $31.55 on Friday. SpartanNash has a twelve month low of $20.26 and a twelve month high of $37.48. The company has a quick ratio of 0.75, a current ratio of 1.59 and a debt-to-equity ratio of 0.60. The firm has a market cap of $1.13 billion, a PE ratio of 18.45 and a beta of 0.68. The business has a 50 day moving average of $31.38 and a 200 day moving average of $32.26.

SpartanNash (NASDAQ:SPTNGet Rating) last posted its earnings results on Thursday, August 18th. The company reported $0.66 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.08. The business had revenue of $2.27 billion during the quarter, compared to analyst estimates of $2.13 billion. SpartanNash had a return on equity of 9.71% and a net margin of 0.67%. The company’s quarterly revenue was up 7.9% compared to the same quarter last year. During the same quarter last year, the company earned $0.54 EPS. On average, research analysts forecast that SpartanNash will post 2.27 EPS for the current fiscal year.

SpartanNash Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 30th. Shareholders of record on Thursday, September 15th will be issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.66%. The ex-dividend date is Wednesday, September 14th. SpartanNash’s payout ratio is 49.12%.

SpartanNash Company Profile

(Get Rating)

SpartanNash Company distributes and retails grocery products. It operates in three segments: Food Distribution, Military, and Retail. The Food Distribution segment offers approximately 65,000 stock-keeping units, such as 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 pharmacy products to independent retailers, national retailers, food service distributors, e-commerce providers, and corporate owned retail stores.

See Also

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Institutional Ownership by Quarter for SpartanNash (NASDAQ:SPTN)

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