SpartanNash Company (NASDAQ:SPTN) Stock Holdings Lifted by Phocas Financial Corp.

Key Points

• Phocas Financial Corp. increased its stake in SpartanNash by 49.3%, owning approximately 0.96% of the company's stock, worth $6.58 million as of the end of the first quarter.
• SpartanNash reported a quarterly EPS of $0.35, missing estimates by $0.08, while its revenue of $2.91 billion exceeded expectations.
• The company declared a quarterly dividend of $0.22 per share, representing a yearly yield of 3.3%, despite a significant negative payout ratio of -275.00%.

Phocas Financial Corp. raised its holdings in SpartanNash Company (NASDAQ:SPTN - Free Report) by 49.3% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 324,606 shares of the company's stock after purchasing an additional 107,125 shares during the quarter. Phocas Financial Corp. owned about 0.96% of SpartanNash worth $6,577,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. LSV Asset Management boosted its holdings in shares of SpartanNash by 12.2% in the first quarter. LSV Asset Management now owns 1,096,261 shares of the company's stock valued at $22,210,000 after acquiring an additional 118,863 shares in the last quarter. Mackenzie Financial Corp boosted its holdings in shares of SpartanNash by 133.4% in the first quarter. Mackenzie Financial Corp now owns 82,915 shares of the company's stock valued at $1,680,000 after acquiring an additional 47,397 shares in the last quarter. Cetera Investment Advisers purchased a new stake in shares of SpartanNash in the first quarter valued at about $237,000. Legato Capital Management LLC boosted its holdings in shares of SpartanNash by 204.1% in the first quarter. Legato Capital Management LLC now owns 54,036 shares of the company's stock valued at $1,095,000 after acquiring an additional 36,265 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH boosted its holdings in shares of SpartanNash by 0.6% in the first quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 104,853 shares of the company's stock valued at $2,124,000 after acquiring an additional 600 shares in the last quarter. 84.59% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts recently commented on the stock. 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 reissued a "market perform" rating and set a $26.90 price objective (up previously from $20.00) on shares of SpartanNash in a report on Tuesday, June 24th.

SpartanNash Price Performance

Shares of NASDAQ:SPTN remained flat at $26.53 during trading on Monday. 554,563 shares of the stock were exchanged, compared to its average volume of 497,535. The firm's fifty day moving average is $23.38 and its two-hundred day moving average is $20.85. The company has a current ratio of 1.66, a quick ratio of 0.86 and a debt-to-equity ratio of 1.03. The firm has a market cap of $898.04 million, a PE ratio of -82.91 and a beta of 0.46. SpartanNash Company has a twelve month low of $17.30 and a twelve month high of $26.69.

SpartanNash (NASDAQ:SPTN - Get Free Report) last posted its quarterly earnings data on Thursday, May 29th. The company reported $0.35 earnings per share for the quarter, missing analysts' consensus estimates of $0.43 by ($0.08). SpartanNash had a negative net margin of 0.11% and a positive return on equity of 8.26%. The firm had revenue of $2.91 billion during the quarter, compared to analyst estimates of $2.87 billion. During the same period in the prior year, the firm earned $0.53 EPS. The business's quarterly revenue was up 3.7% on a year-over-year basis. As a group, equities analysts forecast that SpartanNash Company will post 1.79 EPS for the current year.

SpartanNash Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, June 13th were paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 3.3%. The ex-dividend date was Friday, June 13th. SpartanNash's payout ratio is currently -275.00%.

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.