SpartanNash Company $SPTN Shares Acquired by Russell Investments Group Ltd.

Key Points

• Russell Investments Group Ltd. increased its stake in SpartanNash Company by 59.7%, acquiring 20,601 shares to reach a total of 55,085 shares valued at approximately $1.116 million.
• SpartanNash reported earnings per share of $0.54 for the last quarter, exceeding analyst expectations, while its revenue was reported at $2.27 billion.
• The company announced a quarterly dividend of $0.22 per share, representing an annualized yield of 3.3%, despite a negative dividend payout ratio of -183.33%.

Russell Investments Group Ltd. boosted its position in SpartanNash Company (NASDAQ:SPTN - Free Report) by 59.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 55,085 shares of the company's stock after acquiring an additional 20,601 shares during the quarter. Russell Investments Group Ltd. owned 0.16% of SpartanNash worth $1,116,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Universal Beteiligungs und Servicegesellschaft mbH raised its holdings in SpartanNash by 0.6% during the first quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 104,853 shares of the company's stock worth $2,124,000 after purchasing an additional 600 shares in the last quarter. GAMMA Investing LLC grew its position in shares of SpartanNash by 8.5% during the first 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. grew its position in shares of SpartanNash by 4.0% during the fourth 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 grew its position in shares of SpartanNash by 1.9% during the first 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 grew its position in shares of SpartanNash by 10.6% during the fourth 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. Institutional investors and hedge funds own 84.59% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. Zacks Research upgraded shares of SpartanNash from a "strong sell" rating to a "hold" rating in a research report on Monday, August 18th. BMO Capital Markets reiterated a "market perform" rating and issued a $26.90 price objective (up from $20.00) on shares of SpartanNash in a research report on Tuesday, June 24th. Finally, Wall Street Zen lowered shares of SpartanNash from a "buy" rating to a "hold" rating in a research report on Friday, May 30th. Three investment analysts have rated the stock with a Hold rating, According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $18.45.

SpartanNash Price Performance

Shares of NASDAQ SPTN traded up $0.04 during trading on Tuesday, hitting $26.84. 177,693 shares of the company were exchanged, compared to its average volume of 524,991. The company has a market cap of $908.63 million, a price-to-earnings ratio of -55.91 and a beta of 0.50. SpartanNash Company has a 1 year low of $17.30 and a 1 year high of $26.87. The firm's fifty day moving average price is $26.57 and its 200 day moving average price is $22.02. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.57 and a quick ratio of 0.80.

SpartanNash (NASDAQ:SPTN - Get Free Report) last issued its earnings results on Thursday, August 14th. The company reported $0.54 EPS for the quarter, topping the consensus estimate of $0.50 by $0.04. The company had revenue of $2.27 billion for the quarter, compared to analyst estimates 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 period in the previous year, the firm earned $0.59 EPS. On average, sell-side analysts expect that SpartanNash Company will post 1.79 earnings per share for the current fiscal year.

SpartanNash Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th will be paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 3.3%. The ex-dividend date of this dividend is Monday, September 15th. SpartanNash's payout ratio is -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.