Investors Research Corp Sells 35,870 Shares of SpartanNash Company $SPTN

Key Points

• Investors Research Corp sold 35,870 shares of SpartanNash Company, decreasing its holdings by 84.5% to a total of 6,585 shares valued at $174,000.
• Wall Street analysts have given SpartanNash a consensus rating of "Hold" with a price target of $18.45, reflecting mixed sentiment among investment firms.
• SpartanNash declared a quarterly dividend of $0.22 per share, representing an annualized yield of 3.3%, despite a payout ratio of -183.33%.

Investors Research Corp trimmed its position in SpartanNash Company (NASDAQ:SPTN - Free Report) by 84.5% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 6,585 shares of the company's stock after selling 35,870 shares during the quarter. Investors Research Corp's holdings in SpartanNash were worth $174,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the company. Northern Trust Corp increased its position in SpartanNash by 19.9% during the fourth quarter. Northern Trust Corp now owns 444,377 shares of the company's stock worth $8,141,000 after buying an additional 73,752 shares during the last quarter. Ameriprise Financial Inc. boosted its stake in shares of SpartanNash by 40.8% during the 4th quarter. Ameriprise Financial Inc. now owns 213,417 shares of the company's stock worth $3,912,000 after acquiring an additional 61,816 shares during the period. Bank of America Corp DE increased its holdings in shares of SpartanNash by 18.5% during the 4th quarter. Bank of America Corp DE now owns 68,950 shares of the company's stock worth $1,263,000 after acquiring an additional 10,787 shares during the last quarter. Deutsche Bank AG raised its stake in SpartanNash by 9.1% in the 4th quarter. Deutsche Bank AG now owns 119,443 shares of the company's stock valued at $2,188,000 after acquiring an additional 9,937 shares during the period. Finally, Lazard Asset Management LLC lifted its holdings in SpartanNash by 40.7% during the 4th quarter. Lazard Asset Management LLC now owns 39,448 shares of the company's stock valued at $722,000 after purchasing an additional 11,409 shares during the last quarter. 84.59% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have commented on SPTN. Wall Street Zen downgraded shares of 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 price target (up previously from $20.00) on shares of SpartanNash in a research note on Tuesday, June 24th. Finally, Zacks Research raised shares of SpartanNash from a "strong sell" rating to a "hold" rating in a report on Monday, August 18th. Three investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $18.45.

SpartanNash Trading Down 0.1%

Shares of SpartanNash stock opened at $26.48 on Friday. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.80 and a current ratio of 1.57. The firm has a 50-day moving average of $26.61 and a 200-day moving average of $22.44. SpartanNash Company has a 52-week low of $17.30 and a 52-week high of $26.89. The stock has a market cap of $896.61 million, a PE ratio of -55.17 and a beta of 0.50.

SpartanNash (NASDAQ:SPTN - Get Free Report) last issued its quarterly earnings data on Thursday, August 14th. The company reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.50 by $0.04. The business had revenue of $2.27 billion during the quarter, compared to analysts' expectations 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 was up 1.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.59 EPS. As a group, sell-side analysts forecast that SpartanNash Company will post 1.79 EPS 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%.

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.

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