Cubist Systematic Strategies LLC Acquires New Position in SpartanNash Company $SPTN

Key Points

• Cubist Systematic Strategies LLC invested approximately $731,000 to acquire around 36,083 shares of SpartanNash Company, representing about 0.11% of the company's stock.
• SpartanNash recently reported earnings of $0.54 per share, surpassing analysts' estimates; however, the company's revenue of $2.27 billion fell short of expectations.
• The firm announced a quarterly dividend of $0.22, with a yield of 3.3%, set to be paid on September 30th to investors of record.

Cubist Systematic Strategies LLC acquired a new stake in SpartanNash Company (NASDAQ:SPTN - Free Report) in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 36,083 shares of the company's stock, valued at approximately $731,000. Cubist Systematic Strategies LLC owned approximately 0.11% of SpartanNash as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the company. American Century Companies Inc. increased its holdings in SpartanNash by 13.0% during the 1st 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 increased its holdings in SpartanNash by 12.2% during the 1st 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. Northern Trust Corp increased its holdings in SpartanNash by 19.9% during the 4th quarter. Northern Trust Corp now owns 444,377 shares of the company's stock worth $8,141,000 after purchasing an additional 73,752 shares in the last quarter. Jacobs Levy Equity Management Inc. increased its holdings in SpartanNash by 0.5% during the 4th quarter. Jacobs Levy Equity Management Inc. now owns 440,712 shares of the company's stock worth $8,074,000 after purchasing an additional 2,247 shares in the last quarter. Finally, ProShare Advisors LLC increased its holdings in SpartanNash by 31.3% during the 4th quarter. ProShare Advisors LLC now owns 422,921 shares of the company's stock worth $7,748,000 after purchasing an additional 100,833 shares in the last quarter. Institutional investors own 84.59% of the company's stock.

SpartanNash Stock Performance

SPTN stock traded down $0.19 during mid-day trading on Monday, hitting $26.29. 711,649 shares of the company were exchanged, compared to its average volume of 706,530. The business has a 50 day simple moving average of $26.61 and a 200-day simple moving average of $22.50. 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 $890.18 million, a PE ratio of -54.77 and a beta of 0.50. SpartanNash Company has a 1-year low of $17.30 and a 1-year high of $26.89.

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

SpartanNash Announces Dividend

The firm also recently declared 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. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date is Monday, September 15th. SpartanNash's payout ratio is presently -183.33%.

Analysts Set New Price Targets

A number of research firms have issued reports on SPTN. Wall Street Zen cut SpartanNash from a "buy" rating to a "hold" rating in a report on Friday, May 30th. BMO Capital Markets reiterated a "market perform" rating and issued a $26.90 target price (up 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 equities research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock has a consensus 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.