SpartanNash Company $SPTN Position Increased by Brandywine Global Investment Management LLC

Key Points

• Brandywine Global Investment Management LLC significantly increased its holdings in SpartanNash by 440.1% during the first quarter, acquiring an additional 100,130 shares to reach a total of 122,880 shares.
• SpartanNash reported $0.54 earnings per share for the most recent quarter, exceeding analysts' estimates of $0.50, although its revenue of $2.27 billion was slightly below the anticipated $2.29 billion.
• The company's quarterly dividend of $0.22 per share represents an annualized yield of 3.3%, despite a notable negative payout ratio of -183.33%.

Brandywine Global Investment Management LLC raised its holdings in shares of SpartanNash Company (NASDAQ:SPTN - Free Report) by 440.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 122,880 shares of the company's stock after buying an additional 100,130 shares during the period. Brandywine Global Investment Management LLC owned about 0.36% of SpartanNash worth $2,490,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of SPTN. State of Wyoming acquired a new position in SpartanNash during the fourth quarter valued at approximately $43,000. Tower Research Capital LLC TRC lifted its position in SpartanNash by 167.4% during the fourth quarter. Tower Research Capital LLC TRC now owns 5,966 shares of the company's stock valued at $109,000 after buying an additional 3,735 shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main acquired a new position in SpartanNash during the fourth quarter valued at approximately $113,000. GAMMA Investing LLC lifted its position in SpartanNash by 8.5% during the first quarter. GAMMA Investing LLC now owns 8,097 shares of the company's stock valued at $164,000 after buying an additional 636 shares in the last quarter. Finally, US Asset Management LLC purchased a new stake in shares of SpartanNash during the fourth quarter valued at approximately $190,000. 84.59% of the stock is owned by institutional investors and hedge funds.

SpartanNash Stock Up 0.2%

NASDAQ SPTN traded up $0.05 during trading hours on Friday, reaching $26.67. 823,230 shares of the company traded hands, compared to its average volume of 775,321. SpartanNash Company has a 12 month low of $17.30 and a 12 month high of $26.71. The company has a current ratio of 1.57, a quick ratio of 0.80 and a debt-to-equity ratio of 0.96. The stock has a market capitalization of $903.05 million, a PE ratio of -55.56 and a beta of 0.46. The company has a 50 day moving average of $25.68 and a two-hundred day moving average of $21.72.

SpartanNash (NASDAQ:SPTN - Get Free Report) last posted its quarterly earnings data on Thursday, August 14th. The company reported $0.54 EPS for the quarter, beating analysts' consensus estimates 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 period in the prior year, the firm posted $0.59 EPS. The firm's revenue was up 1.8% compared to the same quarter last year. As a group, equities analysts expect that SpartanNash Company will post 1.79 earnings per share for the current year.

Analyst Ratings Changes

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

About SpartanNash

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.