Massachusetts Financial Services Co. MA grew its stake in shares of SpartanNash Co (NASDAQ:SPTN) by 63.0% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 59,121 shares of the company’s stock after acquiring an additional 22,851 shares during the quarter. Massachusetts Financial Services Co. MA owned about 0.16% of SpartanNash worth $1,186,000 as of its most recent SEC filing.
Several other large investors also recently added to or reduced their stakes in the company. Millennium Management LLC increased its holdings in shares of SpartanNash by 111.5% in the 1st quarter. Millennium Management LLC now owns 24,151 shares of the company’s stock valued at $416,000 after purchasing an additional 12,732 shares in the last quarter. Xact Kapitalforvaltning AB purchased a new position in shares of SpartanNash in the 2nd quarter valued at about $227,000. FormulaFolio Investments LLC purchased a new position in shares of SpartanNash in the 2nd quarter valued at about $507,000. Creative Planning purchased a new position in shares of SpartanNash in the 2nd quarter valued at about $256,000. Finally, Foster & Motley Inc. purchased a new position in shares of SpartanNash in the 2nd quarter valued at about $264,000. Hedge funds and other institutional investors own 84.94% of the company’s stock.
NASDAQ:SPTN opened at $16.59 on Friday. The company has a quick ratio of 0.88, a current ratio of 2.06 and a debt-to-equity ratio of 0.97. SpartanNash Co has a twelve month low of $16.10 and a twelve month high of $27.72. The stock has a market cap of $684.52 million, a price-to-earnings ratio of 7.90, a price-to-earnings-growth ratio of 1.37 and a beta of 1.17.
SpartanNash (NASDAQ:SPTN) last posted its earnings results on Wednesday, November 7th. The company reported $0.50 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.48 by $0.02. SpartanNash had a negative net margin of 0.72% and a positive return on equity of 10.23%. The firm had revenue of $1.89 billion during the quarter, compared to the consensus estimate of $1.91 billion. During the same period last year, the firm posted $0.54 EPS. The firm’s revenue for the quarter was up 1.0% on a year-over-year basis. On average, research analysts forecast that SpartanNash Co will post 1.99 EPS for the current year.
SPTN has been the subject of a number of research analyst reports. ValuEngine downgraded shares of SpartanNash from a “sell” rating to a “strong sell” rating in a report on Monday, July 30th. BidaskClub downgraded shares of SpartanNash from a “hold” rating to a “sell” rating in a report on Friday, September 28th. BMO Capital Markets downgraded shares of SpartanNash from an “outperform” rating to a “market perform” rating and set a $23.00 price target for the company. in a report on Thursday. Zacks Investment Research upgraded shares of SpartanNash from a “sell” rating to a “hold” rating in a report on Thursday, August 16th. Finally, Deutsche Bank cut their price target on shares of SpartanNash from $21.00 to $20.00 and set a “hold” rating for the company in a report on Friday, August 17th. Two research analysts have rated the stock with a sell rating and six have given a hold rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $21.80.
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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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