Invesco Ltd. Reduces Stock Holdings in SpartanNash Company $SPTN

Key Points

• Invesco Ltd. has reduced its stake in SpartanNash Company by 21.1%, now owning approximately 2.90% of the company's shares, valued at around $19.87 million.
• Despite Invesco's sell-off, several other institutional investors have increased their holdings in SpartanNash, with Connor Clark & Lunn Investment Management boosting its stake by 110.5%.
• Wall Street analysts provide mixed ratings for SpartanNash, with Zacks raising its rating to "hold" while BMO Capital Markets increased the target price to $26.90, reflecting ongoing interest and caution in the stock.

Invesco Ltd. reduced its holdings in shares of SpartanNash Company (NASDAQ:SPTN - Free Report) by 21.1% in the first quarter, according to its most recent filing with the SEC. The fund owned 980,768 shares of the company's stock after selling 262,739 shares during the period. Invesco Ltd. owned about 2.90% of SpartanNash worth $19,870,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Universal Beteiligungs und Servicegesellschaft mbH lifted its stake in shares of SpartanNash by 0.6% during the 1st quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 104,853 shares of the company's stock worth $2,124,000 after acquiring an additional 600 shares during the last quarter. GAMMA Investing LLC lifted its stake in shares of SpartanNash by 8.5% during the 1st quarter. GAMMA Investing LLC now owns 8,097 shares of the company's stock worth $164,000 after acquiring an additional 636 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of SpartanNash by 4.0% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,198 shares of the company's stock worth $352,000 after acquiring an additional 732 shares during the last quarter. SummerHaven Investment Management LLC lifted its stake in shares of SpartanNash by 1.9% during the 1st quarter. SummerHaven Investment Management LLC now owns 42,807 shares of the company's stock worth $867,000 after acquiring an additional 789 shares during the last quarter. Finally, BOKF NA lifted its stake in shares of SpartanNash by 10.6% during the 4th quarter. BOKF NA now owns 13,394 shares of the company's stock worth $233,000 after acquiring an additional 1,280 shares during the last quarter. 84.59% of the stock is owned by institutional investors.

SpartanNash Stock Up 0.1%

Shares of NASDAQ:SPTN traded up $0.02 on Wednesday, reaching $26.80. The company had a trading volume of 589,304 shares, compared to its average volume of 776,509. SpartanNash Company has a 52-week low of $17.30 and a 52-week high of $26.83. The firm's 50 day simple moving average is $26.21 and its 200-day simple moving average is $21.85. The firm has a market capitalization of $907.45 million, a PE ratio of -55.83 and a beta of 0.46. The company has a current ratio of 1.57, a quick ratio of 0.80 and a debt-to-equity ratio of 0.96.

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 analysts' consensus estimates of $0.50 by $0.04. SpartanNash had a positive return on equity of 8.19% and a negative net margin of 0.16%.The business had revenue of $2.27 billion for the quarter, compared to the consensus estimate of $2.29 billion. During the same period last year, the business posted $0.59 EPS. The business's revenue was up 1.8% compared to the same quarter last year. As a group, analysts expect that SpartanNash Company will post 1.79 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

SPTN has been the subject of a number of research analyst reports. Zacks Research raised SpartanNash from a "strong sell" rating to a "hold" rating in a research note on Monday, August 18th. 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 note on Tuesday, June 24th. Finally, Wall Street Zen lowered SpartanNash from a "buy" rating to a "hold" rating in a research report on Friday, May 30th. Three research analysts have rated the stock with a Hold rating, According to data from MarketBeat, SpartanNash currently has an average rating of "Hold" and an average 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.