SpartanNash (NASDAQ:SPTN) Stock Price Down 4.4% – Should You Sell?

SpartanNash (NASDAQ:SPTN)’s share price was down 4.4% during mid-day trading on Monday . The stock traded as low as $18.50 and last traded at $18.54. Approximately 224,412 shares changed hands during trading, a decline of 12% from the average daily volume of 253,761 shares. The stock had previously closed at $19.40.

Analysts Set New Price Targets

Separately, StockNews.com lowered shares of SpartanNash from a “buy” rating to a “hold” rating in a research report on Friday, November 8th.

SpartanNash Stock Up 0.9 %

The company has a market cap of $625.14 million, a PE ratio of 13.92 and a beta of 0.35. 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 firm has a fifty day simple moving average of $19.84 and a 200 day simple moving average of $20.20.

SpartanNash (NASDAQ:SPTN) last released its quarterly earnings data on Thursday, November 7th. The company reported $0.48 EPS for the quarter, topping analysts’ consensus estimates of $0.47 by $0.01. The company had revenue of $2.25 billion for the quarter, compared to the consensus estimate of $2.24 billion. SpartanNash had a return on equity of 8.57% and a net margin of 0.48%. The company’s quarterly revenue was down .6% compared to the same quarter last year. During the same period last year, the business posted $0.54 EPS. Equities research analysts predict that SpartanNash will post 1.88 EPS for the current year.

SpartanNash Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Monday, December 9th will be given a $0.2175 dividend. This represents a $0.87 annualized dividend and a dividend yield of 4.70%. The ex-dividend date is Monday, December 9th. SpartanNash’s payout ratio is 65.41%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. nVerses Capital LLC purchased a new stake in SpartanNash during the 2nd quarter worth $30,000. Canada Pension Plan Investment Board purchased a new stake in shares of SpartanNash during the second quarter worth about $34,000. Signaturefd LLC boosted its holdings in SpartanNash by 64.9% in the third quarter. Signaturefd LLC now owns 1,801 shares of the company’s stock valued at $40,000 after purchasing an additional 709 shares during the last quarter. Point72 Hong Kong Ltd acquired a new position in shares of SpartanNash in the 2nd quarter valued at approximately $79,000. Finally, GAMMA Investing LLC grew its position in shares of SpartanNash by 64.7% during the third quarter. GAMMA Investing LLC now owns 3,920 shares of the company’s stock worth $88,000 after buying an additional 1,540 shares in the last quarter. 84.59% of the stock is owned by institutional investors and hedge funds.

SpartanNash Company 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.