SpartanNash (NASDAQ:SPTN) Shares Up 6.3%

SpartanNash Co (NASDAQ:SPTN)’s stock price shot up 6.3% during trading on Monday . The company traded as high as $13.06 and last traded at $13.04, 411,564 shares traded hands during mid-day trading. An increase of 35% from the average session volume of 305,186 shares. The stock had previously closed at $12.27.

A number of brokerages recently commented on SPTN. BidaskClub upgraded shares of SpartanNash from a “strong sell” rating to a “sell” rating in a research report on Thursday, October 10th. Loop Capital started coverage on shares of SpartanNash in a research report on Tuesday, June 25th. They issued a “buy” rating and a $15.00 price objective on the stock. Zacks Investment Research cut shares of SpartanNash from a “hold” rating to a “sell” rating in a research report on Tuesday. BMO Capital Markets cut shares of SpartanNash from a “market perform” rating to an “underperform” rating and decreased their price objective for the company from $13.00 to $8.00 in a research report on Friday, August 2nd. Finally, Pivotal Research upgraded shares of SpartanNash from a “sell” rating to a “hold” rating and decreased their price objective for the company from $10.00 to $9.00 in a research report on Thursday, August 15th. Four investment analysts have rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $13.00.

The business’s 50-day simple moving average is $11.91 and its 200-day simple moving average is $12.58. The stock has a market cap of $474.17 million, a PE ratio of 7.33, a PEG ratio of 1.44 and a beta of 1.39. The company has a quick ratio of 0.75, a current ratio of 1.76 and a debt-to-equity ratio of 1.40.

SpartanNash (NASDAQ:SPTN) last released its quarterly earnings data on Wednesday, August 14th. The company reported $0.34 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.34. SpartanNash had a net margin of 0.05% and a return on equity of 7.07%. The firm had revenue of $2 billion for the quarter, compared to analysts’ expectations of $2.01 billion. During the same quarter in the previous year, the company earned $0.56 earnings per share. The company’s revenue for the quarter was up 5.3% compared to the same quarter last year. As a group, equities research analysts anticipate that SpartanNash Co will post 1.29 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were given a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 5.54%. The ex-dividend date was Friday, September 13th. SpartanNash’s payout ratio is 40.64%.

Hedge funds have recently added to or reduced their stakes in the business. Arizona State Retirement System increased its position in shares of SpartanNash by 1.6% in the second quarter. Arizona State Retirement System now owns 56,331 shares of the company’s stock valued at $657,000 after acquiring an additional 870 shares during the period. Nisa Investment Advisors LLC increased its position in shares of SpartanNash by 31.7% during the second quarter. Nisa Investment Advisors LLC now owns 17,470 shares of the company’s stock valued at $204,000 after buying an additional 4,200 shares during the period. Comerica Bank increased its position in shares of SpartanNash by 8.8% during the second quarter. Comerica Bank now owns 112,998 shares of the company’s stock valued at $1,324,000 after buying an additional 9,150 shares during the period. Commonwealth Bank of Australia increased its position in shares of SpartanNash by 45.4% during the second quarter. Commonwealth Bank of Australia now owns 25,300 shares of the company’s stock valued at $295,000 after buying an additional 7,900 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. increased its position in shares of SpartanNash by 139.9% during the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 63,050 shares of the company’s stock valued at $736,000 after buying an additional 36,772 shares during the period. Hedge funds and other institutional investors own 83.66% of the company’s stock.

SpartanNash Company Profile (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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