Vanguard Group Inc. Reduces Position in SpartanNash Company $SPTN

Key Points

• Vanguard Group Inc. has reduced its stake in SpartanNash Company by 6.0%, now holding approximately 3.05 million shares worth about $61.88 million.
• Several institutional investors have modified their positions, with notable increases from Mariner LLC (23.0%) and Barclays PLC (4.9%).
• Analysts generally rate SpartanNash as a "Hold," with a recent price target increase by BMO Capital Markets to $26.90, up from $20.00.

Vanguard Group Inc. reduced its position in SpartanNash Company (NASDAQ:SPTN - Free Report) by 6.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,054,372 shares of the company's stock after selling 196,000 shares during the quarter. Vanguard Group Inc. owned 9.02% of SpartanNash worth $61,882,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Raymond James Financial Inc. purchased a new stake in SpartanNash in the 4th quarter valued at about $319,000. Barclays PLC boosted its position in SpartanNash by 4.9% in the 4th quarter. Barclays PLC now owns 90,633 shares of the company's stock valued at $1,659,000 after buying an additional 4,221 shares during the period. Mariner LLC boosted its position in SpartanNash by 23.0% in the 4th quarter. Mariner LLC now owns 20,538 shares of the company's stock valued at $376,000 after buying an additional 3,838 shares during the period. Guggenheim Capital LLC purchased a new stake in SpartanNash in the 4th quarter valued at about $218,000. Finally, MetLife Investment Management LLC boosted its position in SpartanNash by 8.1% in the 4th quarter. MetLife Investment Management LLC now owns 21,097 shares of the company's stock valued at $386,000 after buying an additional 1,572 shares during the period. 84.59% of the stock is owned by hedge funds and other institutional investors.

SpartanNash Stock Down 0.0%

Shares of SPTN stock traded down $0.01 during trading hours on Friday, reaching $26.80. 467,863 shares of the company's stock were exchanged, compared to its average volume of 754,372. SpartanNash Company has a 1 year low of $17.30 and a 1 year high of $26.86. The stock has a market cap of $907.45 million, a PE ratio of -55.83 and a beta of 0.46. The company has a current ratio of 1.57, a quick ratio of 0.80 and a debt-to-equity ratio of 0.96. The stock's fifty day moving average price is $26.57 and its two-hundred day moving average price is $21.96.

SpartanNash (NASDAQ:SPTN - Get Free Report) last issued its quarterly earnings results on Thursday, August 14th. The company reported $0.54 earnings per share 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 business had revenue of $2.27 billion for the quarter, compared to analyst estimates of $2.29 billion. During the same quarter in the previous year, the firm earned $0.59 earnings per share. The company's revenue was up 1.8% on a year-over-year basis. Research analysts predict that SpartanNash Company will post 1.79 EPS for the current year.

SpartanNash Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th will be paid a $0.22 dividend. The ex-dividend date is Monday, September 15th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.3%. SpartanNash's dividend payout ratio is presently -183.33%.

Wall Street Analyst Weigh In

SPTN has been the topic of a number of research reports. Zacks Research raised shares of SpartanNash from a "strong sell" rating to a "hold" rating in a research report on Monday, August 18th. Wall Street Zen downgraded shares of SpartanNash from a "buy" rating to a "hold" rating in a research report on Friday, May 30th. Finally, BMO Capital Markets reissued 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. Three equities research analysts have rated the stock with a Hold rating, According to MarketBeat.com, SpartanNash presently has a consensus 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.