Sawtooth Solutions LLC Purchases New Stake in SpartanNash Co (NASDAQ:SPTN)

Sawtooth Solutions LLC purchased a new stake in SpartanNash Co (NASDAQ:SPTN) in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 10,547 shares of the company’s stock, valued at approximately $167,000.

Other large investors have also made changes to their positions in the company. Quantamental Technologies LLC grew its position in shares of SpartanNash by 35.5% during the first quarter. Quantamental Technologies LLC now owns 3,859 shares of the company’s stock valued at $61,000 after purchasing an additional 1,011 shares in the last quarter. Convergence Investment Partners LLC purchased a new stake in shares of SpartanNash in the 4th quarter valued at approximately $316,000. PNC Financial Services Group Inc. grew its stake in shares of SpartanNash by 77.2% in the 4th quarter. PNC Financial Services Group Inc. now owns 1,588 shares of the company’s stock valued at $27,000 after buying an additional 692 shares during the period. Foundry Partners LLC grew its stake in shares of SpartanNash by 42.0% in the 1st quarter. Foundry Partners LLC now owns 258,425 shares of the company’s stock valued at $4,101,000 after buying an additional 76,425 shares during the period. Finally, Prudential Financial Inc. boosted its position in shares of SpartanNash by 9.0% during the 4th quarter. Prudential Financial Inc. now owns 592,165 shares of the company’s stock worth $10,174,000 after purchasing an additional 48,848 shares during the period. 83.94% of the stock is owned by institutional investors and hedge funds.

A number of equities research analysts have recently weighed in on the stock. Pivotal Research reduced their price objective on shares of SpartanNash from $12.00 to $10.00 and set a “sell” rating on the stock in a report on Tuesday. BidaskClub lowered shares of SpartanNash from a “sell” rating to a “strong sell” rating in a research note on Wednesday, June 5th. ValuEngine downgraded shares of SpartanNash from a “sell” rating to a “strong sell” rating in a research report on Tuesday, May 28th. BMO Capital Markets set a $13.00 target price on shares of SpartanNash and gave the company a “hold” rating in a report on Thursday, May 23rd. Finally, Barclays decreased their price objective on shares of SpartanNash from $15.00 to $13.00 and set an “underweight” rating on the stock in a report on Tuesday, May 21st. Five equities research analysts have rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $16.20.

In related news, Director M Shan Atkins sold 4,676 shares of the company’s stock in a transaction on Friday, March 22nd. The shares were sold at an average price of $15.88, for a total value of $74,254.88. Following the sale, the director now directly owns 49,949 shares of the company’s stock, valued at $793,190.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.20% of the stock is currently owned by corporate insiders.

Shares of SPTN stock opened at $11.71 on Friday. The firm has a market capitalization of $429.96 million, a PE ratio of 6.26, a PEG ratio of 1.26 and a beta of 1.38. The company has a quick ratio of 0.82, a current ratio of 1.90 and a debt-to-equity ratio of 1.49. SpartanNash Co has a twelve month low of $11.12 and a twelve month high of $26.50.

SpartanNash (NASDAQ:SPTN) last announced its earnings results on Monday, May 20th. The company reported $0.24 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.01. The business had revenue of $2.54 billion during the quarter, compared to the consensus estimate of $2.51 billion. SpartanNash had a net margin of 0.35% and a return on equity of 7.77%. The business’s quarterly revenue was up 6.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.55 earnings per share. On average, research analysts predict that SpartanNash Co will post 1.35 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be paid a $0.19 dividend. The ex-dividend date is Thursday, June 13th. This represents a $0.76 annualized dividend and a dividend yield of 6.49%. SpartanNash’s dividend payout ratio (DPR) is presently 40.64%.

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About SpartanNash

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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Institutional Ownership by Quarter for SpartanNash (NASDAQ:SPTN)

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