SpartanNash Company $SPTN Position Increased by American Century Companies Inc.

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 stake in SpartanNash Company (NASDAQ:SPTN - Free Report) by 13.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,177,857 shares of the company's stock after buying an additional 135,665 shares during the period. American Century Companies Inc. owned approximately 3.48% of SpartanNash worth $23,863,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of SPTN. Raymond James Financial Inc. purchased a new stake in shares of SpartanNash in the fourth quarter worth about $319,000. Barclays PLC boosted its position in shares of SpartanNash by 4.9% in the fourth quarter. Barclays PLC now owns 90,633 shares of the company's stock worth $1,659,000 after buying an additional 4,221 shares during the period. Mariner LLC boosted its position in shares of SpartanNash by 23.0% in the fourth quarter. Mariner LLC now owns 20,538 shares of the company's stock worth $376,000 after buying an additional 3,838 shares during the period. Guggenheim Capital LLC purchased a new stake in shares of SpartanNash in the fourth quarter worth about $218,000. Finally, MetLife Investment Management LLC boosted its position in shares of SpartanNash by 8.1% in the fourth quarter. MetLife Investment Management LLC now owns 21,097 shares of the company's stock worth $386,000 after buying an additional 1,572 shares during the period. Hedge funds and other institutional investors own 84.59% of the company's stock.

SpartanNash Stock Performance

NASDAQ:SPTN traded down $0.01 during trading hours on Wednesday, reaching $26.78. 271,185 shares of the stock were exchanged, compared to its average volume of 525,710. The company has a quick ratio of 0.80, a current ratio of 1.57 and a debt-to-equity ratio of 0.96. The firm has a 50 day simple moving average of $26.03 and a 200-day simple moving average of $21.82. SpartanNash Company has a 52 week low of $17.30 and a 52 week high of $26.83. The stock has a market capitalization of $906.55 million, a P/E ratio of -55.76 and a beta of 0.46.

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

Analyst Upgrades and Downgrades

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