SpartanNash (NASDAQ:SPTN) Hits New 52-Week Low – Here’s Why

SpartanNash (NASDAQ:SPTN)’s share price hit a new 52-week low on Tuesday . The stock traded as low as $17.30 and last traded at $17.49, with a volume of 239632 shares trading hands. The stock had previously closed at $17.43.

Analysts Set New Price Targets

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

SpartanNash Trading Up 0.3 %

The firm’s 50 day simple moving average is $18.82 and its two-hundred day simple moving average is $20.12. The company has a quick ratio of 0.83, a current ratio of 1.62 and a debt-to-equity ratio of 0.80. The stock has a market cap of $590.37 million, a P/E ratio of 13.15 and a beta of 0.35.

SpartanNash (NASDAQ:SPTN) last released its quarterly earnings data on Thursday, November 7th. The company reported $0.48 earnings per share for the quarter, topping the consensus estimate of $0.47 by $0.01. SpartanNash had a net margin of 0.48% and a return on equity of 8.57%. The firm had revenue of $2.25 billion for the quarter, compared to analyst estimates of $2.24 billion. During the same quarter in the prior year, the business earned $0.54 earnings per share. SpartanNash’s quarterly revenue was down .6% on a year-over-year basis. As a group, equities research analysts predict 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. Investors of record on Monday, December 9th were paid a dividend of $0.2175 per share. The ex-dividend date of this dividend was Monday, December 9th. This represents a $0.87 dividend on an annualized basis and a yield of 4.97%. SpartanNash’s payout ratio is currently 65.41%.

Institutional Investors Weigh In On SpartanNash

A number of hedge funds have recently added to or reduced their stakes in SPTN. American Century Companies Inc. raised its holdings in shares of SpartanNash by 20.0% during the second quarter. American Century Companies Inc. now owns 744,282 shares of the company’s stock valued at $13,963,000 after buying an additional 123,952 shares during the last quarter. Segall Bryant & Hamill LLC acquired a new position in SpartanNash during the 3rd quarter worth $1,802,000. Dean Investment Associates LLC grew its stake in shares of SpartanNash by 54.2% in the third quarter. Dean Investment Associates LLC now owns 188,335 shares of the company’s stock worth $4,221,000 after purchasing an additional 66,178 shares in the last quarter. Barclays PLC increased its holdings in shares of SpartanNash by 120.0% during the third quarter. Barclays PLC now owns 86,412 shares of the company’s stock valued at $1,936,000 after purchasing an additional 47,141 shares during the period. Finally, JPMorgan Chase & Co. raised its stake in shares of SpartanNash by 71.5% during the third quarter. JPMorgan Chase & Co. now owns 102,486 shares of the company’s stock valued at $2,297,000 after purchasing an additional 42,719 shares in the last quarter. 84.59% of the stock is currently owned by 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.