SpartanNash (NASDAQ:SPTN) Rating Increased to Buy at StockNews.com

SpartanNash (NASDAQ:SPTN) was upgraded by equities researchers at StockNews.com from a “hold” rating to a “buy” rating in a research note issued to investors on Wednesday.

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

SpartanNash Stock Up 0.5 %

NASDAQ:SPTN opened at $21.93 on Wednesday. The company has a current ratio of 1.62, a quick ratio of 0.80 and a debt-to-equity ratio of 0.76. The stock has a 50 day moving average of $20.85 and a 200-day moving average of $19.98. The firm has a market capitalization of $739.92 million, a PE ratio of 14.15 and a beta of 0.39. SpartanNash has a 52 week low of $17.74 and a 52 week high of $24.51.

SpartanNash (NASDAQ:SPTN) last issued its quarterly earnings data on Thursday, August 15th. The company reported $0.59 EPS for the quarter, topping analysts’ consensus estimates of $0.56 by $0.03. The firm had revenue of $2.23 billion during the quarter, compared to the consensus estimate of $2.27 billion. SpartanNash had a return on equity of 8.87% and a net margin of 0.48%. The firm’s revenue was down 3.5% on a year-over-year basis. During the same period in the prior year, the business earned $0.65 EPS. Analysts predict that SpartanNash will post 1.98 EPS for the current year.

Hedge Funds Weigh In On SpartanNash

Institutional investors and hedge funds have recently bought and sold shares of the stock. Victory Capital Management Inc. bought a new position in shares of SpartanNash in the fourth quarter valued at approximately $238,000. Charles Schwab Investment Management Inc. lifted its position in SpartanNash by 7.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 477,579 shares of the company’s stock worth $10,960,000 after purchasing an additional 33,550 shares during the period. Teacher Retirement System of Texas lifted its position in SpartanNash by 48.9% in the fourth quarter. Teacher Retirement System of Texas now owns 37,698 shares of the company’s stock worth $865,000 after purchasing an additional 12,382 shares during the period. Dimensional Fund Advisors LP boosted its stake in SpartanNash by 0.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,809,909 shares of the company’s stock valued at $64,488,000 after purchasing an additional 11,683 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd acquired a new position in shares of SpartanNash during the 4th quarter valued at $711,000. 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.