SpartanNash (NASDAQ:SPTN) Shares Down 11% – Here’s What Happened

SpartanNash (NASDAQ:SPTN)’s share price traded down 11% during mid-day trading on Thursday . The company traded as low as $19.65 and last traded at $20.10. 84,793 shares traded hands during trading, a decline of 65% from the average session volume of 245,342 shares. The stock had previously closed at $22.59.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded shares of SpartanNash from a “hold” rating to a “buy” rating in a research report on Wednesday, September 18th.

SpartanNash Stock Performance

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 company has a market cap of $672.10 million, a P/E ratio of 14.83 and a beta of 0.39. The company has a 50 day moving average price of $21.72 and a 200-day moving average price of $20.43.

SpartanNash (NASDAQ:SPTN) last issued its earnings results on Thursday, August 15th. The company reported $0.59 EPS for the quarter, topping the consensus estimate 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 business’s quarterly revenue was down 3.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.65 earnings per share. On average, equities analysts expect that SpartanNash will post 1.98 earnings per share for the current fiscal year.

SpartanNash Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 4th. Investors of record on Monday, September 23rd were issued a dividend of $0.218 per share. This represents a $0.87 annualized dividend and a dividend yield of 4.38%. The ex-dividend date was Monday, September 23rd. SpartanNash’s dividend payout ratio (DPR) is 65.41%.

Hedge Funds Weigh In On SpartanNash

Several large investors have recently bought and sold shares of SPTN. Larson Financial Group LLC bought a new position in SpartanNash in the 1st quarter valued at approximately $30,000. nVerses Capital LLC acquired a new position in shares of SpartanNash during the second quarter worth $30,000. Canada Pension Plan Investment Board bought a new stake in shares of SpartanNash in the second quarter worth $34,000. Blue Trust Inc. increased its holdings in SpartanNash by 5,317.6% in the second quarter. Blue Trust Inc. now owns 1,842 shares of the company’s stock valued at $37,000 after purchasing an additional 1,808 shares during the period. Finally, Signaturefd LLC raised its position in SpartanNash by 64.9% during the 3rd quarter. Signaturefd LLC now owns 1,801 shares of the company’s stock worth $40,000 after purchasing an additional 709 shares during the last quarter. 84.59% of the stock is currently owned by institutional investors.

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.