Bank of New York Mellon Corp trimmed its stake in shares of SpartanNash Co (NASDAQ:SPTN) by 12.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 857,185 shares of the company’s stock after selling 122,436 shares during the period. Bank of New York Mellon Corp owned 2.39% of SpartanNash worth $21,875,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently bought and sold shares of SPTN. Los Angeles Capital Management & Equity Research Inc. purchased a new position in SpartanNash during the second quarter valued at $2,900,000. Schwab Charles Investment Management Inc. lifted its holdings in SpartanNash by 21.1% during the first quarter. Schwab Charles Investment Management Inc. now owns 547,679 shares of the company’s stock valued at $9,426,000 after purchasing an additional 95,254 shares in the last quarter. Robeco Institutional Asset Management B.V. purchased a new position in SpartanNash during the first quarter valued at $1,421,000. OppenheimerFunds Inc. lifted its holdings in SpartanNash by 32.2% during the first quarter. OppenheimerFunds Inc. now owns 275,024 shares of the company’s stock valued at $4,733,000 after purchasing an additional 66,935 shares in the last quarter. Finally, Citadel Advisors LLC lifted its holdings in SpartanNash by 50.2% during the first quarter. Citadel Advisors LLC now owns 156,434 shares of the company’s stock valued at $2,692,000 after purchasing an additional 52,263 shares in the last quarter. 85.09% of the stock is currently owned by institutional investors and hedge funds.
NASDAQ:SPTN opened at $20.30 on Friday. The company has a current ratio of 2.06, a quick ratio of 0.88 and a debt-to-equity ratio of 0.97. The stock has a market capitalization of $741.65 million, a PE ratio of 9.67, a price-to-earnings-growth ratio of 1.45 and a beta of 1.16. SpartanNash Co has a twelve month low of $16.32 and a twelve month high of $27.72.
SpartanNash (NASDAQ:SPTN) last posted its quarterly earnings results on Wednesday, August 15th. The company reported $0.50 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.57 by ($0.07). The business had revenue of $1.90 billion during the quarter, compared to analysts’ expectations of $1.88 billion. SpartanNash had a positive return on equity of 10.23% and a negative net margin of 0.72%. The business’s quarterly revenue was up 2.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.60 earnings per share. research analysts anticipate that SpartanNash Co will post 2.03 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 28th. Stockholders of record on Friday, September 14th will be paid a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 3.55%. The ex-dividend date of this dividend is Thursday, September 13th. SpartanNash’s dividend payout ratio is currently 34.29%.
SPTN has been the topic of several recent analyst reports. Deutsche Bank decreased their price objective on shares of SpartanNash from $21.00 to $20.00 and set a “hold” rating on the stock in a report on Friday, August 17th. Zacks Investment Research downgraded shares of SpartanNash from a “hold” rating to a “sell” rating in a report on Wednesday, August 1st. ValuEngine downgraded shares of SpartanNash from a “sell” rating to a “strong sell” rating in a report on Monday, July 30th. BidaskClub raised shares of SpartanNash from a “sell” rating to a “hold” rating in a report on Wednesday, May 23rd. Finally, Barclays increased their price objective on shares of SpartanNash from $17.00 to $23.00 and gave the company an “equal weight” rating in a report on Thursday, May 31st. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the stock. SpartanNash currently has an average rating of “Hold” and an average target price of $22.33.
SpartanNash Company Profile
SpartanNash Company distributes and retails grocery products. It operates in three segments: Food Distribution, Military, and Retail. The Food Distribution segment offers approximately 60,000 stock-keeping units, such as 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 pharmacy products to independent retail locations, food service distributors, and corporate-owned retail stores.
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