Corebridge Financial Inc. Decreases Stock Position in SpartanNash (NASDAQ:SPTN)

Corebridge Financial Inc. trimmed its holdings in SpartanNash (NASDAQ:SPTN) by 7.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 17,963 shares of the company’s stock after selling 1,402 shares during the period. Corebridge Financial Inc.’s holdings in SpartanNash were worth $329,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the business. Nisa Investment Advisors LLC grew its position in shares of SpartanNash by 3,585.1% in the fourth quarter. Nisa Investment Advisors LLC now owns 1,732 shares of the company’s stock valued at $32,000 after purchasing an additional 1,685 shares during the last quarter. KLP Kapitalforvaltning AS purchased a new stake in SpartanNash in the 4th quarter valued at approximately $132,000. GAMMA Investing LLC grew its holdings in SpartanNash by 90.3% during the 4th quarter. GAMMA Investing LLC now owns 7,461 shares of the company’s stock valued at $137,000 after buying an additional 3,541 shares during the last quarter. Franklin Resources Inc. purchased a new position in SpartanNash during the third quarter worth $211,000. Finally, Verition Fund Management LLC acquired a new position in shares of SpartanNash in the third quarter worth $244,000. 84.59% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

SPTN has been the topic of a number of analyst reports. StockNews.com raised SpartanNash from a “hold” rating to a “buy” rating in a research note on Thursday, April 3rd. Northcoast Research downgraded shares of SpartanNash from a “buy” rating to a “neutral” rating and set a $10.00 price target for the company. in a report on Wednesday, February 19th.

SpartanNash Price Performance

Shares of NASDAQ:SPTN opened at $19.09 on Friday. The business has a fifty day simple moving average of $19.78 and a 200-day simple moving average of $19.63. SpartanNash has a 52 week low of $17.30 and a 52 week high of $23.00. The company has a market cap of $646.12 million, a P/E ratio of -1,909.00 and a beta of 0.53. The company has a quick ratio of 0.78, a current ratio of 1.57 and a debt-to-equity ratio of 1.00.

SpartanNash (NASDAQ:SPTN) last posted its quarterly earnings data on Wednesday, February 12th. The company reported $0.42 EPS for the quarter, beating analysts’ consensus estimates of $0.33 by $0.09. During the same quarter last year, the company posted $0.35 EPS. Equities research analysts forecast that SpartanNash will post 1.79 EPS for the current year.

SpartanNash Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 2nd. Shareholders of record on Friday, March 21st were paid a dividend of $0.22 per share. The ex-dividend date was Friday, March 21st. This represents a $0.88 dividend on an annualized basis and a yield of 4.61%. This is an increase from SpartanNash’s previous quarterly dividend of $0.22. SpartanNash’s dividend payout ratio (DPR) is currently -8,800.00%.

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.