SpartanNash (NASDAQ:SPTN) Short Interest Update

SpartanNash (NASDAQ:SPTN) was the recipient of a large decrease in short interest in the month of July. As of July 15th, there was short interest totalling 814,500 shares, a decrease of 23.2% from the June 30th total of 1,060,000 shares. Currently, 2.4% of the shares of the company are short sold. Based on an average daily trading volume, of 267,700 shares, the days-to-cover ratio is presently 3.0 days.

SpartanNash Stock Performance

NASDAQ SPTN traded up $0.02 on Monday, reaching $20.81. 96,966 shares of the company’s stock traded hands, compared to its average volume of 256,390. SpartanNash has a fifty-two week low of $17.74 and a fifty-two week high of $24.51. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.84 and a current ratio of 1.75. The stock has a 50 day moving average price of $19.32 and a 200-day moving average price of $20.16. The firm has a market cap of $705.08 million, a price-to-earnings ratio of 13.42 and a beta of 0.41.

SpartanNash (NASDAQ:SPTN) last issued its quarterly earnings data on Thursday, May 30th. The company reported $0.53 EPS for the quarter, topping the consensus estimate of $0.52 by $0.01. SpartanNash had a net margin of 0.56% and a return on equity of 9.22%. The firm had revenue of $2.81 billion for the quarter, compared to analyst estimates of $2.86 billion. During the same period in the prior year, the business posted $0.64 EPS. The business’s revenue for the quarter was down 3.6% compared to the same quarter last year. Equities research analysts predict that SpartanNash will post 1.96 EPS for the current fiscal year.

SpartanNash Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 14th were paid a dividend of $0.218 per share. This represents a $0.87 dividend on an annualized basis and a yield of 4.19%. This is an increase from SpartanNash’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend was Friday, June 14th. SpartanNash’s dividend payout ratio is 56.13%.

Hedge Funds Weigh In On SpartanNash

Institutional investors and hedge funds have recently bought and sold shares of the stock. Legato Capital Management LLC raised its position in shares of SpartanNash by 11.2% in the second quarter. Legato Capital Management LLC now owns 45,073 shares of the company’s stock valued at $846,000 after purchasing an additional 4,526 shares during the period. SummerHaven Investment Management LLC raised its holdings in SpartanNash by 2.2% in the second quarter. SummerHaven Investment Management LLC now owns 34,421 shares of the company’s stock worth $646,000 after purchasing an additional 752 shares during the period. Nisa Investment Advisors LLC raised its holdings in shares of SpartanNash by 753.1% during the second quarter. Nisa Investment Advisors LLC now owns 11,576 shares of the company’s stock worth $217,000 after acquiring an additional 10,219 shares during the period. Gladius Capital Management LP bought a new position in SpartanNash in the second quarter valued at $224,000. Finally, Blue Trust Inc. grew its position in shares of SpartanNash by 5,317.6% in the 2nd quarter. Blue Trust Inc. now owns 1,842 shares of the company’s stock valued at $37,000 after acquiring an additional 1,808 shares during the period. Institutional investors own 84.59% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, BMO Capital Markets dropped their price objective on shares of SpartanNash from $22.00 to $20.00 and set a “market perform” rating for the company in a report on Friday, May 31st.

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.