SpartanNash (NASDAQ:SPTN) Trading 5.8% Higher
Shares of SpartanNash Co (NASDAQ:SPTN) traded up 5.8% during trading on Wednesday . The stock traded as high as $12.39 and last traded at $12.33, 127,190 shares were traded during mid-day trading. A decline of 57% from the average session volume of 292,886 shares. The stock had previously closed at $11.65.
SPTN has been the topic of a number of recent analyst reports. BidaskClub lowered shares of SpartanNash from a “sell” rating to a “strong sell” rating in a research report on Wednesday, September 4th. Barclays reduced their price objective on shares of SpartanNash from $13.00 to $8.00 and set an “underweight” rating for the company in a research report on Tuesday, August 13th. ValuEngine upgraded shares of SpartanNash from a “sell” rating to a “hold” rating in a research note on Wednesday. Loop Capital started coverage on shares of SpartanNash in a research report on Tuesday, June 25th. They set a “buy” rating and a $15.00 target price on the stock. Finally, Zacks Investment Research upgraded SpartanNash from a “sell” rating to a “hold” rating in a research note on Thursday, August 22nd. Three analysts have rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $13.00.
The stock has a market cap of $431.24 million, a P/E ratio of 6.59, a P/E/G ratio of 1.23 and a beta of 1.39. The business has a 50 day simple moving average of $10.81 and a 200-day simple moving average of $13.59. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.75 and a current ratio of 1.76.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be issued a dividend of $0.19 per share. The ex-dividend date of this dividend is Friday, September 13th. This represents a $0.76 dividend on an annualized basis and a yield of 6.16%. SpartanNash’s dividend payout ratio (DPR) is presently 40.64%.
A number of hedge funds have recently made changes to their positions in the business. Advisory Services Network LLC bought a new position in shares of SpartanNash during the 2nd quarter valued at approximately $35,000. Glen Harbor Capital Management LLC increased its stake in shares of SpartanNash by 14.3% during the 2nd quarter. Glen Harbor Capital Management LLC now owns 8,736 shares of the company’s stock worth $102,000 after purchasing an additional 1,092 shares during the last quarter. BNP Paribas Arbitrage SA raised its holdings in shares of SpartanNash by 126.1% in the 1st quarter. BNP Paribas Arbitrage SA now owns 7,540 shares of the company’s stock worth $120,000 after purchasing an additional 4,205 shares during the period. Elkfork Partners LLC raised its holdings in shares of SpartanNash by 14.3% in the 2nd quarter. Elkfork Partners LLC now owns 10,608 shares of the company’s stock worth $124,000 after purchasing an additional 1,326 shares during the period. Finally, Bowling Portfolio Management LLC purchased a new position in SpartanNash in the second quarter valued at approximately $135,000. 84.24% of the stock is currently owned by institutional investors and hedge funds.
About SpartanNash (NASDAQ:SPTN)
SpartanNash Company distributes and retails grocery products. It operates in three segments: Food Distribution, Military, and Retail. The Food Distribution segment offers approximately 60,000 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.
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