Brandywine Global Investment Management LLC Raises Position in SpartanNash Company $SPTN

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

A number of other large investors also recently added to or reduced their stakes in SPTN. Universal Beteiligungs und Servicegesellschaft mbH increased its position in shares of SpartanNash by 0.6% in the first quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 104,853 shares of the company's stock valued at $2,124,000 after acquiring an additional 600 shares during the period. GAMMA Investing LLC increased its position in shares of SpartanNash by 8.5% in the first quarter. GAMMA Investing LLC now owns 8,097 shares of the company's stock valued at $164,000 after acquiring an additional 636 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of SpartanNash by 4.0% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,198 shares of the company's stock valued at $352,000 after acquiring an additional 732 shares during the period. SummerHaven Investment Management LLC increased its position in shares of SpartanNash by 1.9% in the first quarter. SummerHaven Investment Management LLC now owns 42,807 shares of the company's stock valued at $867,000 after acquiring an additional 789 shares during the period. Finally, BOKF NA increased its position in shares of SpartanNash by 10.6% in the fourth quarter. BOKF NA now owns 13,394 shares of the company's stock valued at $233,000 after acquiring an additional 1,280 shares during the period. Hedge funds and other institutional investors own 84.59% of the company's stock.

SpartanNash Trading Up 0.3%

Shares of SPTN opened at $26.60 on Tuesday. The firm's 50-day moving average price is $25.00 and its 200-day moving average price is $21.50. The firm has a market capitalization of $900.41 million, a price-to-earnings ratio of -55.42 and a beta of 0.46. The company has a current ratio of 1.57, a quick ratio of 0.80 and a debt-to-equity ratio of 0.96. SpartanNash Company has a 1-year low of $17.30 and a 1-year high of $26.70.

SpartanNash (NASDAQ:SPTN - Get Free Report) last announced its earnings results on Thursday, August 14th. The company reported $0.54 earnings per share for the quarter, beating analysts' consensus estimates of $0.50 by $0.04. The firm 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 for the quarter was up 1.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.59 EPS. Sell-side analysts anticipate that SpartanNash Company will post 1.79 EPS for the current year.

SpartanNash Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, June 13th were paid a dividend of $0.22 per share. The ex-dividend date of this dividend was Friday, June 13th. This represents a $0.88 annualized dividend and a yield of 3.3%. SpartanNash's payout ratio is presently -183.33%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on SPTN shares. Wall Street Zen cut shares of SpartanNash from a "buy" rating to a "hold" rating in a research report on Friday, May 30th. BMO Capital Markets restated a "market perform" rating and issued a $26.90 price objective (up previously from $20.00) on shares of SpartanNash in a research report on Tuesday, June 24th.

SpartanNash 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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