Allianz Asset Management GmbH trimmed its holdings in SpartanNash Co (NASDAQ:SPTN) by 24.4% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 351,135 shares of the company’s stock after selling 113,033 shares during the quarter. Allianz Asset Management GmbH owned approximately 0.95% of SpartanNash worth $9,368,000 as of its most recent SEC filing.
A number of other hedge funds have also bought and sold shares of SPTN. Teacher Retirement System of Texas bought a new position in SpartanNash in the 4th quarter worth approximately $334,000. Assetmark Inc. boosted its stake in SpartanNash by 30.4% in the 3rd quarter. Assetmark Inc. now owns 13,276 shares of the company’s stock worth $350,000 after purchasing an additional 3,094 shares during the period. Crossmark Global Holdings Inc. bought a new position in SpartanNash in the 3rd quarter worth approximately $368,000. Teachers Retirement System of The State of Kentucky boosted its stake in SpartanNash by 25.9% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 16,020 shares of the company’s stock worth $422,000 after purchasing an additional 3,300 shares during the period. Finally, Public Employees Retirement System of Ohio boosted its stake in SpartanNash by 1.4% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 18,383 shares of the company’s stock worth $477,000 after purchasing an additional 245 shares during the period. Institutional investors and hedge funds own 89.70% of the company’s stock.
Several research analysts have weighed in on the company. ValuEngine downgraded SpartanNash from a “buy” rating to a “hold” rating in a research note on Sunday, December 31st. Northcoast Research downgraded SpartanNash from a “buy” rating to a “neutral” rating in a research note on Friday, January 5th. BidaskClub upgraded SpartanNash from a “sell” rating to a “hold” rating in a research note on Saturday, December 2nd. Deutsche Bank dropped their price target on SpartanNash from $24.00 to $21.00 and set a “hold” rating for the company in a research note on Thursday, February 22nd. Finally, BMO Capital Markets upgraded SpartanNash from a “market perform” rating to an “outperform” rating and dropped their price target for the stock from $25.00 to $23.00 in a research note on Friday, March 2nd. They noted that the move was a valuation call. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $22.20.
Shares of SpartanNash Co (SPTN) opened at $18.81 on Tuesday. The stock has a market capitalization of $695.44, a P/E ratio of -8.87, a PEG ratio of 1.37 and a beta of 1.17. SpartanNash Co has a twelve month low of $16.32 and a twelve month high of $37.83. The company has a current ratio of 2.03, a quick ratio of 0.82 and a debt-to-equity ratio of 1.03.
SpartanNash (NASDAQ:SPTN) last issued its quarterly earnings data on Wednesday, February 21st. The company reported $0.41 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.42 by ($0.01). The firm had revenue of $1.92 billion for the quarter, compared to analysts’ expectations of $1.94 billion. SpartanNash had a positive return on equity of 10.08% and a negative net margin of 0.65%. The firm’s revenue was up 5.3% on a year-over-year basis. During the same period last year, the company earned $0.53 earnings per share. equities research analysts predict that SpartanNash Co will post 2.26 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 29th. Stockholders of record on Friday, March 16th will be issued a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 3.83%. This is a boost from SpartanNash’s previous quarterly dividend of $0.17. The ex-dividend date is Thursday, March 15th. SpartanNash’s dividend payout ratio is -31.13%.
SpartanNash announced that its Board of Directors has initiated a stock buyback program on Thursday, November 16th that permits the company to buyback $50.00 million in outstanding shares. This buyback authorization permits the company to purchase shares of its stock through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its shares are undervalued.
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SpartanNash Company is a multi-regional grocery distributor and grocery retailer. The Company’s core businesses include distributing grocery products to independent grocery retailers (independent retailers), select national retailers, its corporate owned retail stores, and the United States military commissaries.
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