SpartanNash Declares Quarterly Dividend of $0.22 (NASDAQ:SPTN)

SpartanNash (NASDAQ:SPTN) declared a quarterly dividend on Thursday, May 22nd, RTT News reports. Shareholders of record on Friday, June 13th will be paid a dividend of 0.22 per share on Monday, June 30th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 4.53%.

SpartanNash has increased its dividend payment by an average of 2.8% annually over the last three years and has raised its dividend every year for the last 15 years. SpartanNash has a dividend payout ratio of 48.6% indicating that its dividend is sufficiently covered by earnings. Analysts expect SpartanNash to earn $1.80 per share next year, which means the company should continue to be able to cover its $0.88 annual dividend with an expected future payout ratio of 48.9%.

SpartanNash Stock Performance

Shares of SPTN opened at $19.44 on Thursday. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.57 and a quick ratio of 0.78. SpartanNash has a 12-month low of $17.30 and a 12-month high of $23.00. The business’s fifty day moving average price is $19.71 and its 200 day moving average price is $19.26. The stock has a market capitalization of $657.97 million, a PE ratio of -1,944.00 and a beta of 0.42.

Institutional Investors Weigh In On SpartanNash

Institutional investors and hedge funds have recently bought and sold shares of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of SpartanNash by 4.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 20,056 shares of the company’s stock worth $406,000 after purchasing an additional 858 shares during the last quarter. Jane Street Group LLC boosted its holdings in SpartanNash by 130.0% during the first quarter. Jane Street Group LLC now owns 57,908 shares of the company’s stock worth $1,173,000 after buying an additional 32,727 shares in the last quarter. AQR Capital Management LLC grew its position in SpartanNash by 2.4% in the first quarter. AQR Capital Management LLC now owns 140,160 shares of the company’s stock worth $2,840,000 after buying an additional 3,349 shares during the last quarter. Finally, Millennium Management LLC boosted its stake in shares of SpartanNash by 837.8% during the 1st quarter. Millennium Management LLC now owns 515,436 shares of the company’s stock worth $10,443,000 after acquiring an additional 460,474 shares in the last quarter. 84.59% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on SPTN shares. Northcoast Research downgraded shares of 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. StockNews.com cut SpartanNash from a “buy” rating to a “hold” rating in a research report on Tuesday, May 13th.

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.