Thrivent Financial For Lutherans decreased its position in shares of SpartanNash Co (NASDAQ:SPTN) by 37.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 330,557 shares of the company’s stock after selling 198,869 shares during the period. Thrivent Financial For Lutherans owned approximately 0.89% of SpartanNash worth $8,819,000 at the end of the most recent reporting period.
Several other institutional investors have also recently modified their holdings of SPTN. Janus Henderson Group PLC purchased a new position in shares of SpartanNash during the third quarter valued at about $20,161,000. BlackRock Inc. grew its position in SpartanNash by 2.2% in the fourth quarter. BlackRock Inc. now owns 4,781,861 shares of the company’s stock worth $127,582,000 after acquiring an additional 102,108 shares in the last quarter. Ameriprise Financial Inc. grew its position in SpartanNash by 23.0% in the third quarter. Ameriprise Financial Inc. now owns 519,717 shares of the company’s stock worth $13,706,000 after acquiring an additional 97,074 shares in the last quarter. Assenagon Asset Management S.A. purchased a new position in SpartanNash in the fourth quarter worth about $1,569,000. Finally, Schwab Charles Investment Management Inc. grew its position in SpartanNash by 14.7% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 452,425 shares of the company’s stock worth $12,071,000 after acquiring an additional 58,009 shares in the last quarter. Hedge funds and other institutional investors own 89.70% of the company’s stock.
SpartanNash Co (NASDAQ:SPTN) opened at $18.96 on Wednesday. SpartanNash Co has a 12-month low of $16.32 and a 12-month high of $37.83. The stock has a market capitalization of $678.07, a P/E ratio of 8.96, a price-to-earnings-growth ratio of 1.39 and a beta of 1.17. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.82 and a current ratio of 2.03.
SpartanNash announced that its board has authorized a stock buyback plan on Thursday, November 16th that authorizes the company to buyback $50.00 million in shares. This buyback authorization authorizes the company to buy shares of its stock through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 29th. Shareholders of record on Friday, March 16th will be given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 3.80%. The ex-dividend date is Thursday, March 15th. This is a positive change from SpartanNash’s previous quarterly dividend of $0.17. SpartanNash’s payout ratio is -46.48%.
In other SpartanNash news, CFO Mark Shamber bought 5,500 shares of the company’s stock in a transaction on Friday, March 2nd. The stock was acquired at an average price of $18.24 per share, for a total transaction of $100,320.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 3.00% of the stock is owned by insiders.
SPTN has been the subject of several recent research reports. BidaskClub upgraded SpartanNash from a “sell” rating to a “hold” rating in a research report on Saturday, December 2nd. Deutsche Bank dropped their target price on SpartanNash from $24.00 to $21.00 and set a “hold” rating for the company in a research report on Thursday, February 22nd. ValuEngine lowered SpartanNash from a “buy” rating to a “hold” rating in a research report on Friday, February 2nd. Zacks Investment Research upgraded SpartanNash from a “sell” rating to a “hold” rating in a research report on Saturday, February 24th. Finally, Pivotal Research restated a “sell” rating and set a $20.00 target price (down previously from $21.00) on shares of SpartanNash in a research report on Wednesday, February 21st. Two research 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 company presently has a consensus rating of “Hold” and a consensus target price of $22.20.
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SpartanNash Company Profile
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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