Charles Schwab Investment Management Inc. Grows Stock Holdings in SpartanNash Company $SPTN

Key Points

• Charles Schwab Investment Management Inc. increased its stake in SpartanNash Company by 8.2%, owning approximately 1.15% of shares valued at nearly $7.9 million.
• SpartanNash received mixed ratings from analysts, with Zacks upgrading it to a "hold" while Wall Street Zen downgraded it; the current consensus price target is $18.45.
• The company reported earnings of $0.54 per share, exceeding estimates slightly, but experienced a negative net margin of 0.16% amidst $2.27 billion in revenues for the quarter.

Charles Schwab Investment Management Inc. grew its stake in shares of SpartanNash Company (NASDAQ:SPTN - Free Report) by 8.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 390,061 shares of the company's stock after buying an additional 29,400 shares during the quarter. Charles Schwab Investment Management Inc. owned 1.15% of SpartanNash worth $7,903,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Phocas Financial Corp. grew its stake in shares of SpartanNash by 49.3% during the first quarter. Phocas Financial Corp. now owns 324,606 shares of the company's stock valued at $6,577,000 after buying an additional 107,125 shares during the last quarter. LSV Asset Management grew its stake in shares of SpartanNash by 12.2% during 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 last quarter. Mackenzie Financial Corp grew its stake in shares of SpartanNash by 133.4% during the first quarter. Mackenzie Financial Corp now owns 82,915 shares of the company's stock valued at $1,680,000 after buying an additional 47,397 shares during the last quarter. Cetera Investment Advisers bought a new position in shares of SpartanNash during the first quarter valued at about $237,000. Finally, Legato Capital Management LLC grew its stake in shares of SpartanNash by 204.1% during the first quarter. Legato Capital Management LLC now owns 54,036 shares of the company's stock valued at $1,095,000 after buying an additional 36,265 shares during the last quarter. 84.59% of the stock is owned by institutional investors.

SpartanNash Stock Down 0.0%

SPTN traded down $0.01 on Friday, hitting $26.80. The company had a trading volume of 467,863 shares, compared to its average volume of 745,148. 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 Company has a 52-week low of $17.30 and a 52-week high of $26.86. The stock has a fifty day simple moving average of $26.57 and a 200-day simple moving average of $21.98. The firm has a market capitalization of $907.45 million, a P/E ratio of -55.83 and a beta of 0.50.

SpartanNash (NASDAQ:SPTN - Get Free Report) last issued its quarterly earnings data on Thursday, August 14th. The company reported $0.54 EPS for the quarter, topping 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 business had revenue of $2.27 billion during the quarter, compared to analyst estimates of $2.29 billion. During the same period last year, the business posted $0.59 earnings per share. SpartanNash's quarterly revenue was up 1.8% compared to the same quarter last year. As a group, equities analysts expect that SpartanNash Company will post 1.79 EPS for the current fiscal year.

SpartanNash Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders 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 yield of 3.3%. SpartanNash's dividend payout ratio (DPR) is -183.33%.

Wall Street Analyst Weigh In

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