Caxton Associates LLP Acquires New Position in SpartanNash Company $SPTN

Key Points

• Caxton Associates LLP purchased 24,788 shares of SpartanNash Company, making their investment valued at approximately $502,000, representing 0.07% ownership of the company.
• Several other institutional investors, including GAMMA Investing LLC and the New York State Common Retirement Fund, increased their holdings in SpartanNash, reflecting growing institutional interest in the stock.
• SpartanNash recently reported earnings of $0.54 per share, surpassing analysts’ expectations, along with a declared quarterly dividend of $0.22 per share, indicating a 3.3% dividend yield.

Caxton Associates LLP purchased a new position in shares of SpartanNash Company (NASDAQ:SPTN - Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 24,788 shares of the company's stock, valued at approximately $502,000. Caxton Associates LLP owned 0.07% of SpartanNash as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. GAMMA Investing LLC increased its stake in shares of SpartanNash by 8.5% during the first quarter. GAMMA Investing LLC now owns 8,097 shares of the company's stock worth $164,000 after acquiring an additional 636 shares during the period. SG Americas Securities LLC acquired a new position in shares of SpartanNash during the first quarter worth about $426,000. New York State Common Retirement Fund increased its stake in shares of SpartanNash by 43.0% during the first quarter. New York State Common Retirement Fund now owns 54,354 shares of the company's stock worth $1,101,000 after acquiring an additional 16,332 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of SpartanNash by 40.1% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 77,650 shares of the company's stock worth $1,423,000 after acquiring an additional 22,223 shares during the period. Finally, Mackenzie Financial Corp grew its position in SpartanNash by 151.1% during the fourth quarter. Mackenzie Financial Corp now owns 35,518 shares of the company's stock worth $651,000 after buying an additional 21,371 shares during the period. 84.59% of the stock is currently owned by institutional investors and hedge funds.

SpartanNash Trading Up 0.0%

Shares of SPTN stock traded up $0.01 during mid-day trading on Wednesday, reaching $26.49. The company's stock had a trading volume of 88,603 shares, compared to its average volume of 536,027. SpartanNash Company has a 12-month low of $17.30 and a 12-month high of $26.89. The firm has a market capitalization of $896.78 million, a PE ratio of -55.18 and a beta of 0.50. The company has a quick ratio of 0.80, a current ratio of 1.57 and a debt-to-equity ratio of 0.96. The company's 50 day simple moving average is $26.61 and its 200-day simple moving average is $22.53.

SpartanNash (NASDAQ:SPTN - Get Free Report) last released its quarterly earnings results on Thursday, August 14th. The company reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.50 by $0.04. SpartanNash had a negative net margin of 0.16% and a positive return on equity of 8.19%. The firm had revenue of $2.27 billion for the quarter, compared to the consensus estimate of $2.29 billion. During the same quarter in the previous year, the firm posted $0.59 EPS. The firm's quarterly revenue was up 1.8% on a year-over-year basis. On average, research analysts predict that SpartanNash Company will post 1.79 EPS for the current fiscal year.

SpartanNash Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Monday, September 15th will be paid a dividend of $0.22 per share. The ex-dividend date of this dividend is Monday, September 15th. This represents a $0.88 annualized dividend and a yield of 3.3%. SpartanNash's payout ratio is -183.33%.

Analysts Set New Price Targets

Several brokerages have weighed in on SPTN. Wall Street Zen lowered shares of SpartanNash from a "buy" rating to a "hold" rating in a research report on Friday, May 30th. BMO Capital Markets reiterated a "market perform" rating and issued a $26.90 price target (up from $20.00) on shares of SpartanNash in a research report on Tuesday, June 24th. Finally, Zacks Research upgraded shares of SpartanNash from a "strong sell" rating to a "hold" rating in a research report on Monday, August 18th. Three research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $18.45.

SpartanNash Company Profile

SpartanNash Company distributes and retails grocery products in the United States of America. It operates through Wholesale and Retail segments. The Wholesale segment offers grocery products and perishable food products, including 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 pharmaceutical products to independent retailers, national accounts, food service distributors, e-commerce providers, and corporate owned retail stores.