Federated Hermes Inc. Raises Stake in SpartanNash (NASDAQ:SPTN)

Posted by Defense World Staff on Mar 10th, 2023

Federated Hermes Inc. increased its holdings in shares of SpartanNash (NASDAQ:SPTN – Get Rating) by 5.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 109,616 shares of the company’s stock after acquiring an additional 5,566 shares during the period. Federated Hermes Inc. owned approximately 0.31% of SpartanNash worth $3,181,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in SPTN. Wipfli Financial Advisors LLC purchased a new stake in shares of SpartanNash in the 3rd quarter worth approximately $43,000. Quadrant Capital Group LLC increased its position in shares of SpartanNash by 90.8% during the 3rd quarter. Quadrant Capital Group LLC now owns 1,736 shares of the company’s stock valued at $50,000 after purchasing an additional 826 shares during the last quarter. SeaCrest Wealth Management LLC bought a new position in shares of SpartanNash in the 2nd quarter worth approximately $60,000. Lazard Asset Management LLC purchased a new position in shares of SpartanNash in the second quarter worth approximately $81,000. Finally, Point72 Hong Kong Ltd purchased a new position in shares of SpartanNash in the first quarter worth approximately $100,000. Institutional investors own 87.14% of the company’s stock.

SpartanNash Price Performance

SpartanNash stock opened at $26.52 on Friday. SpartanNash has a 52-week low of $24.81 and a 52-week high of $37.75. The company has a quick ratio of 0.70, a current ratio of 1.51 and a debt-to-equity ratio of 0.65. The firm’s fifty day moving average is $30.25 and its 200 day moving average is $31.31. The company has a market cap of $929.79 million, a price-to-earnings ratio of 27.92 and a beta of 0.71.

SpartanNash Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 31st. Investors of record on Friday, March 17th will be issued a $0.215 dividend. This is an increase from SpartanNash’s previous quarterly dividend of $0.21. The ex-dividend date is Thursday, March 16th. This represents a $0.86 dividend on an annualized basis and a dividend yield of 3.24%. SpartanNash’s dividend payout ratio (DPR) is presently 88.42%.

Analysts Set New Price Targets

Several research firms have weighed in on SPTN. Northcoast Research upgraded shares of SpartanNash from a “neutral” rating to a “buy” rating in a research report on Thursday, December 1st. StockNews.com cut SpartanNash from a “buy” rating to a “hold” rating in a report on Saturday, March 4th. Finally, Deutsche Bank Aktiengesellschaft cut their price target on SpartanNash from $35.00 to $30.00 and set a “hold” rating for the company in a report on Monday, February 27th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $30.50.

SpartanNash Company Profile

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SpartanNash Co engages in the distribution of grocery products to military commissaries in the U.S. It operates through the following segments: Military, Food Distribution and Retail. The Military segment sells and distributes grocery products primarily to U.S. military commissaries and exchanges. The Food Distribution segment distributes groceries to independent and corporate owned grocery retailers using multi-platform sales approach.