SummerHaven Investment Management LLC Has $1.15 Million Holdings in SpartanNash Company $SPTN

SummerHaven Investment Management LLC raised its stake in SpartanNash Company (NASDAQ:SPTN) by 1.6% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 43,495 shares of the company’s stock after acquiring an additional 688 shares during the quarter. SpartanNash comprises approximately 0.8% of SummerHaven Investment Management LLC’s investment portfolio, making the stock its 24th biggest holding. SummerHaven Investment Management LLC owned approximately 0.13% of SpartanNash worth $1,152,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in SPTN. Millennium Management LLC increased its position in SpartanNash by 837.8% in the 1st quarter. Millennium Management LLC now owns 515,436 shares of the company’s stock valued at $10,443,000 after acquiring an additional 460,474 shares in the last quarter. GAMMA Investing LLC increased its position in SpartanNash by 2,098.7% in the 1st quarter. GAMMA Investing LLC now owns 164,045 shares of the company’s stock valued at $3,324,000 after acquiring an additional 156,584 shares in the last quarter. American Century Companies Inc. increased its position in SpartanNash by 13.0% in the 1st quarter. American Century Companies Inc. now owns 1,177,857 shares of the company’s stock valued at $23,863,000 after acquiring an additional 135,665 shares in the last quarter. LSV Asset Management increased its position in SpartanNash by 12.2% in the 1st quarter. LSV Asset Management now owns 1,096,261 shares of the company’s stock valued at $22,210,000 after acquiring an additional 118,863 shares in the last quarter. Finally, Phocas Financial Corp. increased its position in SpartanNash by 49.3% in the 1st quarter. Phocas Financial Corp. now owns 324,606 shares of the company’s stock valued at $6,577,000 after acquiring an additional 107,125 shares in the last quarter. Institutional investors and hedge funds own 84.59% of the company’s stock.

Analyst Upgrades and Downgrades

SPTN has been the subject of several analyst reports. Zacks Research upgraded shares of SpartanNash from a “strong sell” rating to a “hold” rating in a research report on Monday, August 18th. BMO Capital Markets reiterated a “market perform” rating and set a $26.90 price target (up previously from $20.00) on shares of SpartanNash in a research report on Tuesday, June 24th. Three equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $18.45.

SpartanNash Price Performance

Shares of NASDAQ:SPTN opened at $26.90 on Monday. SpartanNash Company has a one year low of $17.30 and a one year high of $27.07. The company has a 50 day moving average of $26.64 and a 200-day moving average of $22.93. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.57 and a quick ratio of 0.80. The stock has a market cap of $910.78 million, a price-to-earnings ratio of -56.04 and a beta of 0.50.

SpartanNash (NASDAQ:SPTN) last released its quarterly earnings data on Thursday, August 14th. The company reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.50 by $0.04. SpartanNash had a negative net margin of 0.16% and a positive return on equity of 8.19%. The business had revenue of $2.27 billion for the quarter, compared to analyst estimates of $2.29 billion. During the same quarter last year, the firm earned $0.59 EPS. SpartanNash’s quarterly revenue was up 1.8% compared to the same quarter last year. On average, sell-side analysts forecast that SpartanNash Company will post 1.79 earnings per share for the current year.

SpartanNash Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Monday, September 15th will be paid a dividend of $0.22 per share. The ex-dividend date of this dividend is Monday, September 15th. This represents a $0.88 annualized dividend and a yield of 3.3%. SpartanNash’s dividend payout ratio (DPR) is presently -183.33%.

SpartanNash 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.