Assenagon Asset Management S.A. lowered its stake in shares of SpartanNash (NASDAQ:SPTN – Free Report) by 7.7% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 34,789 shares of the company’s stock after selling 2,886 shares during the period. Assenagon Asset Management S.A. owned 0.10% of SpartanNash worth $783,000 as of its most recent SEC filing.
A number of other large investors have also made changes to their positions in SPTN. Bank of New York Mellon Corp boosted its stake in shares of SpartanNash by 4.0% during the first quarter. Bank of New York Mellon Corp now owns 671,233 shares of the company’s stock valued at $22,144,000 after acquiring an additional 25,649 shares during the last quarter. US Bancorp DE lifted its position in SpartanNash by 10.7% during the first quarter. US Bancorp DE now owns 5,275 shares of the company’s stock worth $174,000 after buying an additional 508 shares during the period. Private Advisor Group LLC purchased a new position in SpartanNash during the first quarter worth about $235,000. Citigroup Inc. lifted its position in SpartanNash by 2.5% during the first quarter. Citigroup Inc. now owns 35,322 shares of the company’s stock worth $1,165,000 after buying an additional 853 shares during the period. Finally, Bank of Montreal Can lifted its position in SpartanNash by 4.2% during the first quarter. Bank of Montreal Can now owns 31,961 shares of the company’s stock worth $1,096,000 after buying an additional 1,278 shares during the period. Institutional investors and hedge funds own 81.49% of the company’s stock.
Analyst Upgrades and Downgrades
Separately, StockNews.com assumed coverage on SpartanNash in a research report on Thursday, October 5th. They set a “buy” rating on the stock.
SpartanNash Stock Performance
SpartanNash stock opened at $23.03 on Wednesday. The stock’s 50-day moving average is $22.20 and its 200-day moving average is $22.77. The company has a market cap of $797.21 million, a price-to-earnings ratio of 19.85, a price-to-earnings-growth ratio of 2.75 and a beta of 0.68. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.62 and a quick ratio of 0.76. SpartanNash has a 12 month low of $20.57 and a 12 month high of $37.75.
SpartanNash (NASDAQ:SPTN – Get Free Report) last released its quarterly earnings data on Thursday, August 17th. The company reported $0.65 EPS for the quarter, topping analysts’ consensus estimates of $0.64 by $0.01. The company had revenue of $2.31 billion for the quarter, compared to the consensus estimate of $2.36 billion. SpartanNash had a return on equity of 9.82% and a net margin of 0.42%. The company’s quarterly revenue was up 1.7% compared to the same quarter last year. During the same period last year, the business posted $0.66 EPS. Equities analysts anticipate that SpartanNash will post 2.26 earnings per share for the current year.
SpartanNash Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 29th. Stockholders of record on Friday, September 15th were issued a $0.215 dividend. The ex-dividend date of this dividend was Thursday, September 14th. This represents a $0.86 dividend on an annualized basis and a dividend yield of 3.73%. SpartanNash’s dividend payout ratio (DPR) is 74.14%.
SpartanNash Company Profile
SpartanNash Company distributes and retails grocery products. It operates through Wholesale and Retail segments. The Wholesale segment offers grocery products and perishable food products, 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 retailers, national accounts, food service distributors, e-commerce providers, and corporate owned retail stores.
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