Goldman Sachs Group Inc. Trims Holdings in SpartanNash Company $SPTN

Key Points

• Goldman Sachs has reduced its holdings in SpartanNash Company by 15.7%, now owning approximately 1.12% of the company, worth $7.68 million.
• SpartanNash recently reported an EPS of $0.54 for the last quarter, slightly surpassing analyst expectations, while its revenue was $2.27 billion, a 1.8% year-over-year increase.
• The company announced a quarterly dividend of $0.22 per share, yielding approximately 3.3%, with a payout ratio significantly below standard at -183.33%.

Goldman Sachs Group Inc. lowered its holdings in shares of SpartanNash Company (NASDAQ:SPTN - Free Report) by 15.7% in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 378,906 shares of the company's stock after selling 70,713 shares during the period. Goldman Sachs Group Inc. owned about 1.12% of SpartanNash worth $7,677,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. American Century Companies Inc. increased its holdings in SpartanNash by 13.0% in the 1st quarter. American Century Companies Inc. now owns 1,177,857 shares of the company's stock worth $23,863,000 after purchasing an additional 135,665 shares in the last quarter. LSV Asset Management increased its stake 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 buying an additional 118,863 shares during the period. Millennium Management LLC increased its stake in shares of SpartanNash by 837.8% in the first quarter. Millennium Management LLC now owns 515,436 shares of the company's stock valued at $10,443,000 after buying an additional 460,474 shares during the period. Bridgeway Capital Management LLC increased its stake in shares of SpartanNash by 1.6% in the first quarter. Bridgeway Capital Management LLC now owns 504,229 shares of the company's stock valued at $10,216,000 after buying an additional 7,886 shares during the period. Finally, Northern Trust Corp increased its stake in shares of SpartanNash by 19.9% in the fourth quarter. Northern Trust Corp now owns 444,377 shares of the company's stock valued at $8,141,000 after buying an additional 73,752 shares during the period. Institutional investors and hedge funds own 84.59% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on SPTN shares. Wall Street Zen lowered SpartanNash from a "buy" rating to a "hold" rating in a research report on Friday, May 30th. BMO Capital Markets restated a "market perform" rating and set a $26.90 target price (up previously from $20.00) on shares of SpartanNash in a research report on Tuesday, June 24th. Finally, Zacks Research upgraded SpartanNash from a "strong sell" rating to a "hold" rating in a research report on Monday, August 18th. Three equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company has an average rating of "Hold" and an average target price of $18.45.

SpartanNash Price Performance

SPTN stock traded up $0.45 during mid-day trading on Friday, hitting $26.91. 1,095,850 shares of the stock were exchanged, compared to its average volume of 546,350. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.57 and a quick ratio of 0.80. The business has a fifty day moving average price of $26.60 and a 200 day moving average price of $22.60. SpartanNash Company has a 12 month low of $17.30 and a 12 month high of $26.95. The stock has a market capitalization of $911.00 million, a price-to-earnings ratio of -56.05 and a beta of 0.50.

SpartanNash (NASDAQ:SPTN - Get Free Report) last issued its quarterly earnings results on Thursday, August 14th. The company reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.50 by $0.04. The firm had revenue of $2.27 billion during the quarter, compared to analyst estimates of $2.29 billion. SpartanNash had a positive return on equity of 8.19% and a negative net margin of 0.16%.The company's revenue was up 1.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.59 earnings per share. On average, sell-side analysts anticipate that SpartanNash Company will post 1.79 EPS for the current year.

SpartanNash Announces Dividend

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 issued a $0.22 dividend. The ex-dividend date is Monday, September 15th. This represents a $0.88 annualized dividend and a dividend yield of 3.3%. SpartanNash's payout ratio is currently -183.33%.

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.