Cubist Systematic Strategies LLC Invests $731,000 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 purchased a new stake in SpartanNash Company (NASDAQ:SPTN - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 36,083 shares of the company's stock, valued at approximately $731,000. Cubist Systematic Strategies LLC owned about 0.11% of SpartanNash as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. GAMMA Investing LLC boosted its holdings in 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 last quarter. SG Americas Securities LLC bought a new position in SpartanNash in the first quarter valued at about $426,000. New York State Common Retirement Fund boosted its holdings in SpartanNash by 43.0% in the first 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 during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in SpartanNash by 40.1% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 77,650 shares of the company's stock valued at $1,423,000 after acquiring an additional 22,223 shares during the last quarter. Finally, Mackenzie Financial Corp boosted its holdings in SpartanNash by 151.1% in the fourth quarter. Mackenzie Financial Corp now owns 35,518 shares of the company's stock valued at $651,000 after acquiring an additional 21,371 shares during the last quarter. Institutional investors own 84.59% of the company's stock.

Analysts Set New Price Targets

Several research firms recently issued reports on SPTN. BMO Capital Markets reiterated a "market perform" rating and issued a $26.90 price target (up previously from $20.00) on shares of SpartanNash in a report on Tuesday, June 24th. Zacks Research upgraded SpartanNash from a "strong sell" rating to a "hold" rating in a report on Monday, August 18th. Finally, Wall Street Zen cut SpartanNash from a "buy" rating to a "hold" rating in a report on Friday, May 30th. Three analysts have rated the stock with a Hold rating, According to MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $18.45.

SpartanNash Stock Down 0.1%

Shares of NASDAQ SPTN traded down $0.03 during mid-day trading on Friday, reaching $26.48. 504,965 shares of the company's stock were exchanged, compared to its average volume of 739,883. The firm has a market capitalization of $896.61 million, a price-to-earnings ratio of -55.17 and a beta of 0.50. 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 business has a fifty day simple moving average of $26.61 and a 200 day simple moving average of $22.42. SpartanNash Company has a twelve month low of $17.30 and a twelve month high of $26.89.

SpartanNash (NASDAQ:SPTN - Get Free Report) last released its quarterly earnings results on Thursday, August 14th. The company reported $0.54 EPS for the quarter, topping analysts' consensus estimates of $0.50 by $0.04. The company had revenue of $2.27 billion for the quarter, compared to analyst estimates of $2.29 billion. SpartanNash had a positive return on equity of 8.19% and a negative net margin of 0.16%.SpartanNash's revenue was up 1.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.59 earnings per share. As a group, equities analysts expect that SpartanNash Company will post 1.79 EPS for the current fiscal 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 dividend of $0.22 per share. The ex-dividend date of this dividend is Monday, September 15th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.3%. SpartanNash's dividend payout ratio (DPR) is currently -183.33%.

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.