SpartanNash (NASDAQ:SPTN) Sets New 52-Week High – Here’s What Happened

SpartanNash Company (NASDAQ:SPTN) shares reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $26.71 and last traded at $26.71, with a volume of 95848 shares. The stock had previously closed at $26.67.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Zacks Research raised shares of SpartanNash from a “strong sell” rating to a “hold” rating in a research report on Monday, August 18th. BMO Capital Markets reissued a “market perform” rating and set a $26.90 price target (up from $20.00) on shares of SpartanNash in a research report on Tuesday, June 24th. Finally, Wall Street Zen lowered SpartanNash from a “buy” rating to a “hold” rating in a research report on Friday, May 30th. Three research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $18.45.

SpartanNash Stock Up 0.1%

The firm has a 50-day moving average price of $25.85 and a two-hundred day moving average price of $21.78. The company has a quick ratio of 0.80, a current ratio of 1.57 and a debt-to-equity ratio of 0.96. The company has a market capitalization of $904.23 million, a P/E ratio of -55.64 and a beta of 0.46.

SpartanNash (NASDAQ:SPTN) last announced its quarterly earnings results on Thursday, August 14th. The company reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.50 by $0.04. The firm had revenue of $2.27 billion during the quarter, compared to analysts’ expectations of $2.29 billion. SpartanNash had a negative net margin of 0.16% and a positive return on equity of 8.19%. The company’s revenue for the quarter was up 1.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.59 earnings per share. Equities research analysts anticipate that SpartanNash Company will post 1.79 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. State of Wyoming bought a new stake in shares of SpartanNash during the 4th quarter worth approximately $43,000. CWM LLC boosted its position in shares of SpartanNash by 246.0% in the second quarter. CWM LLC now owns 2,436 shares of the company’s stock valued at $65,000 after acquiring an additional 1,732 shares during the period. Longfellow Investment Management Co. LLC bought a new position in shares of SpartanNash during the second quarter worth approximately $72,000. Tower Research Capital LLC TRC lifted its position in shares of SpartanNash by 264.7% during the 2nd quarter. Tower Research Capital LLC TRC now owns 3,107 shares of the company’s stock valued at $82,000 after acquiring an additional 2,255 shares during the period. Finally, Nisa Investment Advisors LLC boosted its position in shares of SpartanNash by 79.1% during the 2nd quarter. Nisa Investment Advisors LLC now owns 3,171 shares of the company’s stock worth $84,000 after acquiring an additional 1,400 shares in the last quarter. 84.59% of the stock is currently owned by institutional investors.

SpartanNash Company Profile

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.