SpartanNash (NASDAQ:SPTN) Cut to “Hold” at StockNews.com

StockNews.com cut shares of SpartanNash (NASDAQ:SPTN) from a buy rating to a hold rating in a report published on Tuesday morning.

Separately, Northcoast Research lowered SpartanNash from a “buy” rating to a “neutral” rating and set a $10.00 price objective for the company. in a research report on Wednesday, February 19th.

SpartanNash Price Performance

SPTN stock opened at $19.44 on Tuesday. The stock has a market capitalization of $657.97 million, a price-to-earnings ratio of -1,944.00 and a beta of 0.42. The firm’s 50-day moving average price is $19.72 and its two-hundred day moving average price is $19.29. The company has a current ratio of 1.57, a quick ratio of 0.78 and a debt-to-equity ratio of 1.00. SpartanNash has a 12-month low of $17.30 and a 12-month high of $23.00.

SpartanNash (NASDAQ:SPTN) last issued its quarterly earnings data on Wednesday, February 12th. The company reported $0.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.33 by $0.09. During the same quarter in the previous year, the company earned $0.35 EPS. As a group, equities analysts predict that SpartanNash will post 1.79 earnings per share for the current year.

SpartanNash Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 2nd. Stockholders of record on Friday, March 21st were paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 4.53%. The ex-dividend date was Friday, March 21st. This is a boost from SpartanNash’s previous quarterly dividend of $0.22. SpartanNash’s dividend payout ratio (DPR) is currently -8,800.00%.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Universal Beteiligungs und Servicegesellschaft mbH raised its stake in SpartanNash by 0.6% in the 1st quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 104,853 shares of the company’s stock valued at $2,124,000 after purchasing an additional 600 shares during the last quarter. GAMMA Investing LLC boosted its stake in shares of SpartanNash by 8.5% during the 1st quarter. GAMMA Investing LLC now owns 8,097 shares of the company’s stock worth $164,000 after purchasing an additional 636 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of SpartanNash by 4.0% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,198 shares of the company’s stock worth $352,000 after buying an additional 732 shares in the last quarter. Yousif Capital Management LLC raised its position in shares of SpartanNash by 5.9% in the fourth quarter. Yousif Capital Management LLC now owns 13,696 shares of the company’s stock valued at $251,000 after buying an additional 768 shares during the last quarter. Finally, SummerHaven Investment Management LLC lifted its stake in shares of SpartanNash by 1.9% during the first quarter. SummerHaven Investment Management LLC now owns 42,807 shares of the company’s stock valued at $867,000 after buying an additional 789 shares during the period. 84.59% of the stock is owned by hedge funds and other institutional investors.

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.