EntryPoint Capital LLC Acquires New Position in SpartanNash Company $SPTN

Key Points

• EntryPoint Capital LLC has acquired a new stake in SpartanNash Company, purchasing 11,663 shares valued at approximately $236,000 in the 1st quarter.
• SpartanNash reported earnings of $0.54 per share for the last quarter, exceeding estimates, while its revenue was $2.27 billion, slightly below analyst expectations.
• Institutional investors own 84.59% of SpartanNash's stock, with several hedge funds significantly increasing their positions during the same quarter.

EntryPoint Capital LLC acquired a new stake in SpartanNash Company (NASDAQ:SPTN - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 11,663 shares of the company's stock, valued at approximately $236,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Versor Investments LP purchased a new position in shares of SpartanNash in the 1st quarter valued at approximately $561,000. American Century Companies Inc. raised its position 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 buying an additional 135,665 shares during the last quarter. Brandywine Global Investment Management LLC raised its position in SpartanNash by 440.1% during the 1st quarter. Brandywine Global Investment Management LLC now owns 122,880 shares of the company's stock worth $2,490,000 after buying an additional 100,130 shares during the last quarter. Russell Investments Group Ltd. raised its position in SpartanNash by 59.7% during the 1st quarter. Russell Investments Group Ltd. now owns 55,085 shares of the company's stock worth $1,116,000 after buying an additional 20,601 shares during the last quarter. Finally, Public Sector Pension Investment Board raised its position in SpartanNash by 26.7% during the 1st quarter. Public Sector Pension Investment Board now owns 107,071 shares of the company's stock worth $2,169,000 after buying an additional 22,585 shares during the last quarter. 84.59% of the stock is owned by hedge funds and other institutional investors.

SpartanNash Price Performance

NASDAQ:SPTN opened at $26.67 on Friday. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.57 and a quick ratio of 0.80. The firm has a market cap of $902.99 million, a price-to-earnings ratio of -55.56 and a beta of 0.46. The company has a 50 day moving average price of $25.68 and a 200-day moving average price of $21.70. SpartanNash Company has a 1-year low of $17.30 and a 1-year high of $26.71.

SpartanNash (NASDAQ:SPTN - Get Free Report) last posted its earnings results on Thursday, August 14th. The company reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.04. The firm had revenue of $2.27 billion during 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 business's quarterly revenue was up 1.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.59 EPS. Equities research analysts forecast that SpartanNash Company will post 1.79 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. Zacks Research raised shares of SpartanNash from a "strong sell" rating to a "hold" rating in a research report on Monday, August 18th. Wall Street Zen lowered shares of SpartanNash from a "buy" rating to a "hold" rating in a research report on Friday, May 30th. Finally, BMO Capital Markets reissued a "market perform" rating and set a $26.90 price target (up from $20.00) on shares of SpartanNash in a research report on Tuesday, June 24th. Three equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, SpartanNash has a consensus rating of "Hold" and an average price target 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.

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