Goldman Sachs Group Inc. Trims Position 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. cut its holdings in shares of SpartanNash Company (NASDAQ:SPTN - Free Report) by 15.7% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 378,906 shares of the company's stock after selling 70,713 shares during the quarter. Goldman Sachs Group Inc. owned approximately 1.12% of SpartanNash worth $7,677,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in SPTN. American Century Companies Inc. boosted its stake in SpartanNash by 13.0% in the first quarter. American Century Companies Inc. now owns 1,177,857 shares of the company's stock valued at $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% during 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. Millennium Management LLC increased its holdings in 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 period. Bridgeway Capital Management LLC grew its position in shares of SpartanNash by 1.6% during the 1st quarter. Bridgeway Capital Management LLC now owns 504,229 shares of the company's stock valued at $10,216,000 after purchasing an additional 7,886 shares in the last quarter. Finally, Northern Trust Corp increased its holdings in shares of SpartanNash by 19.9% in the fourth quarter. Northern Trust Corp now owns 444,377 shares of the company's stock worth $8,141,000 after purchasing an additional 73,752 shares during the period. 84.59% of the stock is owned by hedge funds and other institutional investors.

SpartanNash Stock Up 0.3%

Shares of NASDAQ:SPTN traded up $0.08 during trading on Thursday, reaching $26.46. 1,194,239 shares of the stock traded hands, compared to its average volume of 541,932. The stock has a market cap of $895.71 million, a P/E ratio of -55.11 and a beta of 0.50. The stock has a 50-day moving average of $26.60 and a two-hundred day moving average of $22.56. SpartanNash Company has a 52-week low of $17.30 and a 52-week high of $26.89. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.80 and a current ratio of 1.57.

SpartanNash (NASDAQ:SPTN - Get Free Report) last issued its quarterly earnings data on Thursday, August 14th. The company reported $0.54 earnings per share 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. The firm's revenue for the quarter was up 1.8% compared to the same quarter last year. As a group, sell-side analysts expect that SpartanNash Company will post 1.79 earnings per share for the current fiscal year.

SpartanNash Announces Dividend

The firm also recently declared 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. The ex-dividend date of this dividend is Monday, September 15th. This represents a $0.88 annualized dividend and a dividend yield of 3.3%. SpartanNash's dividend payout ratio is presently -183.33%.

Analysts Set New Price Targets

A number of brokerages have weighed in on SPTN. BMO Capital Markets restated a "market perform" rating and issued a $26.90 target price (up from $20.00) on shares of SpartanNash in a research note on Tuesday, June 24th. Zacks Research upgraded SpartanNash from a "strong sell" rating to a "hold" rating in a report on Monday, August 18th. Finally, Wall Street Zen cut shares of SpartanNash from a "buy" rating to a "hold" rating in a research report on Friday, May 30th. Three analysts have rated the stock with a Hold rating, According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $18.45.

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.