Assenagon Asset Management S.A. Invests $424,000 in SpartanNash Company $SPTN

Key Points

• Assenagon Asset Management S.A. invested approximately $424,000 in SpartanNash Company by acquiring 15,988 shares during the second quarter.
• Institutional investors own 84.59% of SpartanNash, with significant positions lifted by firms like Millennium Management LLC and GAMMA Investing LLC, showcasing strong institutional interest.
• SpartanNash's recent quarterly earnings report showed earnings per share of $0.54, exceeding expectations, although revenue was slightly below forecasts at $2.27 billion.

Assenagon Asset Management S.A. acquired a new position in SpartanNash Company (NASDAQ:SPTN - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 15,988 shares of the company's stock, valued at approximately $424,000.

A number of other institutional investors have also made changes to their positions in SPTN. Millennium Management LLC lifted its position in shares of SpartanNash by 837.8% in the first quarter. Millennium Management LLC now owns 515,436 shares of the company's stock worth $10,443,000 after purchasing an additional 460,474 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of SpartanNash by 2,098.7% in the first quarter. GAMMA Investing LLC now owns 164,045 shares of the company's stock worth $3,324,000 after purchasing an additional 156,584 shares in the last quarter. American Century Companies Inc. lifted its position in shares of SpartanNash by 13.0% in the first quarter. American Century Companies Inc. now owns 1,177,857 shares of the company's stock worth $23,863,000 after purchasing an additional 135,665 shares in the last quarter. LSV Asset Management lifted its position in shares of SpartanNash by 12.2% in the first quarter. LSV Asset Management now owns 1,096,261 shares of the company's stock worth $22,210,000 after purchasing an additional 118,863 shares in the last quarter. Finally, Phocas Financial Corp. lifted its position in shares of SpartanNash by 49.3% in the first quarter. Phocas Financial Corp. now owns 324,606 shares of the company's stock worth $6,577,000 after purchasing an additional 107,125 shares in the last quarter. Institutional investors own 84.59% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Zacks Research raised shares of SpartanNash from a "strong sell" rating to a "hold" rating in a research report on Monday, August 18th. BMO Capital Markets reaffirmed a "market perform" rating and set a $26.90 price target (up from $20.00) on shares of SpartanNash in a research report on Tuesday, June 24th. Three research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, SpartanNash has a consensus rating of "Hold" and a consensus target price of $18.45.

SpartanNash Price Performance

Shares of SPTN opened at $26.90 on Monday. The firm has a market capitalization of $910.78 million, a PE ratio of -56.04 and a beta of 0.50. The company's 50-day moving average is $26.64 and its 200-day moving average is $22.93. SpartanNash Company has a fifty-two week low of $17.30 and a fifty-two week high of $27.07. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.57 and a quick ratio of 0.80.

SpartanNash (NASDAQ:SPTN - Get Free Report) last issued its quarterly earnings data on Thursday, August 14th. The company reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.04. The company had revenue of $2.27 billion for the quarter, compared to analyst estimates of $2.29 billion. SpartanNash had a negative net margin of 0.16% and a positive return on equity of 8.19%. The company's revenue was up 1.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.59 earnings per share. Equities analysts forecast that SpartanNash Company will post 1.79 EPS for the current year.

SpartanNash Announces Dividend

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

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.

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