Connor Clark & Lunn Investment Management Ltd. Increases Position in SpartanNash Company $SPTN

Key Points

• Connor Clark & Lunn Investment Management Ltd. increased its stake in SpartanNash Company by 110.5% during the 1st quarter, bringing its holdings to a total of 108,909 shares valued at approximately $2.21 million.
• SpartanNash recently reported quarterly earnings of $0.54 per share, which surpassed analyst expectations of $0.50, while its revenue was slightly below estimates at $2.27 billion.
• The company announced a quarterly dividend of $0.22 per share, yielding approximately 3.3%, though it has a negative dividend payout ratio of -275.00%.

Connor Clark & Lunn Investment Management Ltd. grew its stake in SpartanNash Company (NASDAQ:SPTN - Free Report) by 110.5% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 108,909 shares of the company's stock after purchasing an additional 57,161 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.32% of SpartanNash worth $2,206,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. Universal Beteiligungs und Servicegesellschaft mbH lifted its stake in shares of 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 purchasing an additional 600 shares during the last quarter. GAMMA Investing LLC lifted its stake in shares of SpartanNash by 8.5% in the 1st quarter. GAMMA Investing LLC now owns 8,097 shares of the company's stock valued at $164,000 after purchasing an additional 636 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of SpartanNash by 4.0% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,198 shares of the company's stock valued at $352,000 after purchasing an additional 732 shares during the last quarter. SummerHaven Investment Management LLC lifted its stake in shares of SpartanNash by 1.9% in the 1st quarter. SummerHaven Investment Management LLC now owns 42,807 shares of the company's stock valued at $867,000 after purchasing an additional 789 shares during the last quarter. Finally, BOKF NA lifted its stake in shares of SpartanNash by 10.6% in the 4th quarter. BOKF NA now owns 13,394 shares of the company's stock valued at $233,000 after purchasing an additional 1,280 shares during the last quarter. 84.59% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. BMO Capital Markets reaffirmed a "market perform" rating and issued a $26.90 price objective (up from $20.00) on shares of SpartanNash in a research note on Tuesday, June 24th. Wall Street Zen downgraded SpartanNash from a "buy" rating to a "hold" rating in a report on Friday, May 30th. Two equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $18.45.

SpartanNash Trading Down 0.0%

SPTN traded down $0.0050 during trading on Tuesday, hitting $26.5950. 181,570 shares of the stock were exchanged, compared to its average volume of 511,594. The firm has a 50 day simple moving average of $25.00 and a 200 day simple moving average of $21.50. The firm has a market cap of $900.24 million, a price-to-earnings ratio of -55.41 and a beta of 0.46. SpartanNash Company has a 1 year low of $17.30 and a 1 year high of $26.71. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.80 and a current ratio of 1.57.

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

SpartanNash Dividend Announcement

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

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.