SpartanNash (NASDAQ:SPTN) Sets New 12-Month Low – What’s Next?

Shares of SpartanNash (NASDAQ:SPTN) reached a new 52-week low during trading on Wednesday . The stock traded as low as $17.71 and last traded at $17.86, with a volume of 61937 shares traded. The stock had previously closed at $18.02.

Analysts Set New Price Targets

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

SpartanNash Price Performance

The company has a market capitalization of $588.35 million, a PE ratio of 13.11 and a beta of 0.35. The company has a current ratio of 1.62, a quick ratio of 0.83 and a debt-to-equity ratio of 0.80. The company’s 50 day moving average price is $18.97 and its 200-day moving average price is $20.11.

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. SpartanNash had a return on equity of 8.57% and a net margin of 0.48%. The company had revenue of $2.25 billion for the quarter, compared to the consensus estimate of $2.24 billion. During the same period last year, the business posted $0.54 EPS. The company’s quarterly revenue was down .6% compared to the same quarter last year. On average, sell-side analysts forecast that SpartanNash will post 1.88 earnings per share for the current fiscal year.

SpartanNash Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 30th. Shareholders of record on Monday, December 9th were given a $0.2175 dividend. This represents a $0.87 annualized dividend and a yield of 4.99%. The ex-dividend date of this dividend was Monday, December 9th. SpartanNash’s dividend payout ratio (DPR) is presently 65.41%.

Hedge Funds Weigh In On SpartanNash

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. American Century Companies Inc. lifted its stake in shares of SpartanNash by 20.0% in the second quarter. American Century Companies Inc. now owns 744,282 shares of the company’s stock worth $13,963,000 after acquiring an additional 123,952 shares in the last quarter. Dana Investment Advisors Inc. increased its position in SpartanNash by 14.5% in the second quarter. Dana Investment Advisors Inc. now owns 328,357 shares of the company’s stock worth $6,160,000 after buying an additional 41,619 shares during the period. Ellsworth Advisors LLC lifted its position in SpartanNash by 0.8% in the 3rd quarter. Ellsworth Advisors LLC now owns 223,742 shares of the company’s stock valued at $5,014,000 after purchasing an additional 1,803 shares during the last quarter. AQR Capital Management LLC raised its holdings in shares of SpartanNash by 17.8% during the second quarter. AQR Capital Management LLC now owns 197,551 shares of the company’s stock valued at $3,706,000 after buying an additional 29,849 shares during the last quarter. Finally, Dean Investment Associates LLC raised its stake in shares of SpartanNash by 54.2% during the third quarter. Dean Investment Associates LLC now owns 188,335 shares of the company’s stock valued at $4,221,000 after purchasing an additional 66,178 shares in the last quarter. 84.59% of the stock is owned by hedge funds and other institutional investors.

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.