Cetera Investment Advisers Invests $237,000 in SpartanNash Company $SPTN

Key Points

• Cetera Investment Advisers has invested $237,000 in SpartanNash Company by acquiring 11,713 shares, marking the firm's new position in the company.
• SpartanNash reported $0.54 earnings per share for the last quarter, exceeding analysts' expectations, although its revenue of $2.27 billion fell slightly short of the forecast.
• Several hedge funds, including AXA S.A., have recently increased their stakes in SpartanNash, raising the percentage of stock owned by institutional investors to 84.59%.

Cetera Investment Advisers purchased a new position in shares of SpartanNash Company (NASDAQ:SPTN - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 11,713 shares of the company's stock, valued at approximately $237,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Legato Capital Management LLC increased its holdings in SpartanNash by 204.1% in the first quarter. Legato Capital Management LLC now owns 54,036 shares of the company's stock valued at $1,095,000 after purchasing an additional 36,265 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH lifted its position in SpartanNash by 0.6% in the 1st 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 in the last quarter. New York State Common Retirement Fund lifted its position in SpartanNash by 43.0% in the 1st quarter. New York State Common Retirement Fund now owns 54,354 shares of the company's stock valued at $1,101,000 after acquiring an additional 16,332 shares in the last quarter. Significant Wealth Partners LLC increased its stake in SpartanNash by 21.5% in the 1st quarter. Significant Wealth Partners LLC now owns 23,521 shares of the company's stock valued at $477,000 after buying an additional 4,161 shares during the last quarter. Finally, Principal Financial Group Inc. increased its stake in SpartanNash by 2.7% in the 1st quarter. Principal Financial Group Inc. now owns 168,064 shares of the company's stock valued at $3,405,000 after buying an additional 4,391 shares during the last quarter. 84.59% of the stock is currently owned by institutional investors and hedge funds.

SpartanNash Trading Up 0.1%

Shares of NASDAQ SPTN traded up $0.02 during midday trading on Wednesday, hitting $26.80. 589,304 shares of the company traded hands, compared to its average volume of 776,509. SpartanNash Company has a 12-month low of $17.30 and a 12-month high of $26.83. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.80 and a current ratio of 1.57. The stock has a 50-day moving average price of $26.21 and a 200 day moving average price of $21.85. The firm has a market cap of $907.45 million, a P/E ratio of -55.83 and a beta of 0.46.

SpartanNash (NASDAQ:SPTN - Get Free Report) last announced its quarterly earnings results on Thursday, August 14th. The company reported $0.54 earnings per share (EPS) for the quarter, beating 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 company had revenue of $2.27 billion for the quarter, compared to analysts' expectations of $2.29 billion. During the same quarter in the previous year, the company earned $0.59 earnings per share. SpartanNash's quarterly revenue was up 1.8% on a year-over-year basis. As a group, analysts expect that SpartanNash Company will post 1.79 earnings per share for the current year.

Analyst Upgrades and Downgrades

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

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.