Public Sector Pension Investment Board Grows Stock Holdings in SpartanNash Company $SPTN

Key Points

• The Public Sector Pension Investment Board increased its stake in SpartanNash Company by 26.7% during the first quarter, now owning 107,071 shares valued at approximately $2.17 million.
• SpartanNash reported earnings per share of $0.54 for the last quarter, surpassing analysts' estimates of $0.50, but had a negative net margin of 0.16%.
• Analyst ratings for SpartanNash have varied, with MBO Capital Markets setting a target price of $26.90 and Zacks upgrading it from a "strong sell" to a "hold" rating.

Public Sector Pension Investment Board increased its position in SpartanNash Company (NASDAQ:SPTN - Free Report) by 26.7% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 107,071 shares of the company's stock after buying an additional 22,585 shares during the period. Public Sector Pension Investment Board owned about 0.32% of SpartanNash worth $2,169,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Raymond James Financial Inc. purchased a new position in shares of SpartanNash in the fourth quarter valued at about $319,000. GAMMA Investing LLC raised its stake in SpartanNash by 8.5% during the 1st quarter. GAMMA Investing LLC now owns 8,097 shares of the company's stock valued at $164,000 after purchasing an additional 636 shares during the period. SG Americas Securities LLC bought a new stake in SpartanNash during the 1st quarter valued at approximately $426,000. AXA S.A. lifted its holdings in SpartanNash by 465.1% in the 4th quarter. AXA S.A. now owns 58,354 shares of the company's stock worth $1,069,000 after purchasing an additional 48,028 shares in the last quarter. Finally, New York State Common Retirement Fund boosted its stake in SpartanNash by 43.0% in the 1st quarter. New York State Common Retirement Fund now owns 54,354 shares of the company's stock worth $1,101,000 after purchasing an additional 16,332 shares during the period. 84.59% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms have recently issued reports on SPTN. BMO Capital Markets reiterated a "market perform" rating and set a $26.90 price objective (up previously from $20.00) on shares of SpartanNash in a research report on Tuesday, June 24th. Zacks Research upgraded shares of SpartanNash from a "strong sell" rating to a "hold" rating in a research report on Monday. Finally, Wall Street Zen downgraded shares of SpartanNash from a "buy" rating to a "hold" rating in a report on Friday, May 30th. Three investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, SpartanNash currently has an average rating of "Hold" and a consensus target price of $18.45.

SpartanNash Trading Down 0.1%

SPTN stock opened at $26.57 on Thursday. The firm has a fifty day moving average price of $25.33 and a 200 day moving average price of $21.57. SpartanNash Company has a fifty-two week low of $17.30 and a fifty-two week high of $26.71. 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 market cap of $899.66 million, a PE ratio of -55.35 and a beta of 0.46.

SpartanNash (NASDAQ:SPTN - Get Free Report) last released 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 negative net margin of 0.16% and a positive return on equity of 8.19%. The company had revenue of $2.27 billion for the quarter, compared to the consensus estimate of $2.29 billion. During the same quarter in the prior year, the firm earned $0.59 earnings per share. SpartanNash's revenue was up 1.8% on a year-over-year basis. Sell-side analysts anticipate that SpartanNash Company will post 1.79 earnings per share for the current fiscal year.

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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