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 cut its holdings in shares of SpartanNash Company (NASDAQ:SPTN - Free Report) by 84.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund 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.

A number of other institutional investors have also made changes to their positions in SPTN. Millennium Management LLC increased its holdings in shares of SpartanNash by 837.8% during the 1st quarter. Millennium Management LLC now owns 515,436 shares of the company's stock worth $10,443,000 after acquiring an additional 460,474 shares during the last quarter. GAMMA Investing LLC increased its holdings in shares of SpartanNash by 2,098.7% during the 1st quarter. GAMMA Investing LLC now owns 164,045 shares of the company's stock worth $3,324,000 after acquiring an additional 156,584 shares during the last quarter. American Century Companies Inc. increased its holdings in shares of 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 acquiring an additional 135,665 shares during the last quarter. LSV Asset Management grew its holdings in SpartanNash by 12.2% in the 1st quarter. LSV Asset Management now owns 1,096,261 shares of the company's stock valued at $22,210,000 after buying an additional 118,863 shares in the last quarter. Finally, Phocas Financial Corp. grew its holdings in SpartanNash by 49.3% in the 1st quarter. Phocas Financial Corp. now owns 324,606 shares of the company's stock valued at $6,577,000 after buying an additional 107,125 shares in the last quarter. 84.59% of the stock is owned by institutional investors and hedge funds.

SpartanNash Trading Up 1.7%

Shares of SPTN stock traded up $0.45 during mid-day trading on Friday, reaching $26.91. 1,187,925 shares of the stock traded hands, compared to its average volume of 546,827. The stock's fifty day simple moving average is $26.60 and its two-hundred day simple moving average is $22.60. SpartanNash Company has a 1-year low of $17.30 and a 1-year high of $26.95. The company has a market cap of $911.00 million, a price-to-earnings ratio of -56.05 and a beta of 0.50. The company has a quick ratio of 0.80, a current ratio of 1.57 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 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 firm had revenue of $2.27 billion for the quarter, compared to analyst estimates of $2.29 billion. During the same period last year, the firm posted $0.59 earnings per share. The business's revenue for the quarter was up 1.8% on a year-over-year basis. On average, research analysts anticipate that SpartanNash Company will post 1.79 EPS for the current fiscal year.

SpartanNash Dividend Announcement

The business also recently disclosed 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. 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 dividend payout ratio (DPR) is -183.33%.

Analysts Set New Price Targets

A number of research analysts have commented on the company. BMO Capital Markets reaffirmed a "market perform" rating and issued a $26.90 price objective (up from $20.00) on shares of SpartanNash in a report on Tuesday, June 24th. Wall Street Zen lowered SpartanNash from a "buy" rating to a "hold" rating in a report on Friday, May 30th. Finally, Zacks Research raised 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.com, the stock presently has an average 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.