SpartanNash (NASDAQ:SPTN) Downgraded to “Hold” Rating by StockNews.com

StockNews.com downgraded shares of SpartanNash (NASDAQ:SPTN) from a buy rating to a hold rating in a research note released on Wednesday.

SpartanNash Stock Down 2.6 %

Shares of NASDAQ:SPTN opened at $17.77 on Wednesday. The company has a 50 day moving average price of $18.58 and a two-hundred day moving average price of $20.11. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.83 and a current ratio of 1.62. The company has a market capitalization of $599.92 million, a PE ratio of 13.36 and a beta of 0.35. SpartanNash has a 52 week low of $17.30 and a 52 week high of $23.00.

SpartanNash (NASDAQ:SPTN) last released its quarterly earnings data on Thursday, November 7th. The company reported $0.48 EPS for the quarter, beating analysts’ consensus estimates of $0.47 by $0.01. The business had revenue of $2.25 billion during the quarter, compared to analysts’ expectations of $2.24 billion. SpartanNash had a net margin of 0.48% and a return on equity of 8.57%. The firm’s quarterly revenue was down .6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.54 EPS. Analysts forecast that SpartanNash will post 1.88 earnings per share for the current year.

SpartanNash Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 30th. Investors of record on Monday, December 9th were paid a dividend of $0.2175 per share. The ex-dividend date was Monday, December 9th. This represents a $0.87 dividend on an annualized basis and a yield of 4.90%. SpartanNash’s payout ratio is 65.41%.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of SPTN. Intech Investment Management LLC acquired a new position in SpartanNash in the 2nd quarter worth $237,000. Canada Pension Plan Investment Board bought a new stake in shares of SpartanNash in the second quarter valued at about $34,000. AE Wealth Management LLC acquired a new position in shares of SpartanNash during the second quarter worth about $200,000. Public Sector Pension Investment Board grew its holdings in shares of SpartanNash by 5.6% during the second quarter. Public Sector Pension Investment Board now owns 75,871 shares of the company’s stock worth $1,423,000 after buying an additional 4,019 shares in the last quarter. Finally, Marshall Wace LLP acquired a new stake in SpartanNash in the 2nd quarter valued at approximately $638,000. Institutional investors own 84.59% of the company’s stock.

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.