American Century Companies Inc. Has $23.86 Million Stock Position in SpartanNash Company $SPTN

Key Points

• American Century Companies Inc. has increased its stake in SpartanNash Company by 13.0%, now owning approximately 3.48% of the firm's shares valued at nearly $23.9 million.
• SpartanNash reported $0.54 earnings per share for the latest quarter, exceeding analysts’ expectations, while its quarterly revenue reached $2.27 billion, a 1.8% year-over-year increase.
• Most investment analysts have a consensus rating of "Hold" for SpartanNash, with a target price increase to $26.90, up from a previous $20.00.

American Century Companies Inc. lifted its holdings in SpartanNash Company (NASDAQ:SPTN - Free Report) by 13.0% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 1,177,857 shares of the company's stock after buying an additional 135,665 shares during the quarter. American Century Companies Inc. owned approximately 3.48% of SpartanNash worth $23,863,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the business. Brandywine Global Investment Management LLC lifted its position in shares of SpartanNash by 440.1% in the 1st quarter. Brandywine Global Investment Management LLC now owns 122,880 shares of the company's stock worth $2,490,000 after buying an additional 100,130 shares during the last quarter. Russell Investments Group Ltd. lifted its position in shares of SpartanNash by 59.7% in the 1st quarter. Russell Investments Group Ltd. now owns 55,085 shares of the company's stock worth $1,116,000 after buying an additional 20,601 shares during the last quarter. Public Sector Pension Investment Board lifted its position in shares of SpartanNash by 26.7% in the 1st quarter. Public Sector Pension Investment Board now owns 107,071 shares of the company's stock worth $2,169,000 after buying an additional 22,585 shares during the last quarter. Nuveen LLC bought a new position in shares of SpartanNash in the 1st quarter worth about $1,613,000. Finally, Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of SpartanNash by 110.5% in the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 108,909 shares of the company's stock worth $2,206,000 after acquiring an additional 57,161 shares during the period. 84.59% of the stock is currently owned by institutional investors.

SpartanNash Price Performance

Shares of NASDAQ:SPTN traded down $0.03 during trading hours on Thursday, hitting $26.78. 158,752 shares of the company's stock traded hands, compared to its average volume of 525,279. SpartanNash Company has a 52 week low of $17.30 and a 52 week high of $26.83. 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 company's fifty day simple moving average is $26.21 and its two-hundred day simple moving average is $21.85. The company has a market cap of $906.60 million, a price-to-earnings ratio of -55.78 and a beta of 0.46.

SpartanNash (NASDAQ:SPTN - Get Free Report) last posted its quarterly earnings data on Thursday, August 14th. The company reported $0.54 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to analyst estimates of $2.29 billion. During the same quarter last year, the firm posted $0.59 EPS. The business's revenue for the quarter was up 1.8% on a year-over-year basis. As a group, equities analysts anticipate that SpartanNash Company will post 1.79 EPS for the current fiscal year.

SpartanNash Announces Dividend

The firm also recently disclosed 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. This represents a $0.88 annualized dividend and a dividend yield of 3.3%. SpartanNash's dividend payout ratio (DPR) is -183.33%.

Analyst Ratings Changes

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

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.