SpartanNash Company Plans Quarterly Dividend of $0.22 (NASDAQ:SPTN)

Key Points

• SpartanNash Company has declared a quarterly dividend of $0.22 per share, with payment scheduled for September 30th, resulting in an annualized yield of 3.3%.
• The company's payout ratio is 49.7%, indicating its dividend is well-covered by earnings, with expected earnings of $1.80 per share next year.
• SpartanNash reported earnings of $0.54 per share in its most recent quarter, surpassing analyst expectations, alongside quarterly revenue of $2.27 billion.

SpartanNash Company (NASDAQ:SPTN - Get Free Report) declared a quarterly dividend on Wednesday, August 27th, RTT News reports. Investors of record on Monday, September 15th will be paid a dividend of 0.22 per share on Tuesday, September 30th. This represents a c) annualized dividend and a yield of 3.3%. The ex-dividend date is Monday, September 15th.

SpartanNash has a payout ratio of 49.7% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect SpartanNash to earn $1.80 per share next year, which means the company should continue to be able to cover its $0.88 annual dividend with an expected future payout ratio of 48.9%.

SpartanNash Trading Up 0.1%

NASDAQ SPTN traded up $0.04 during trading on Tuesday, hitting $26.84. 139,609 shares of the company's stock traded hands, compared to its average volume of 524,839. The stock has a fifty day moving average of $26.57 and a two-hundred day moving average of $22.02. 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 has a 12-month low of $17.30 and a 12-month high of $26.87. The firm has a market cap of $908.67 million, a P/E ratio of -55.93 and a beta of 0.50.

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

Institutional Trading of SpartanNash

Institutional investors and hedge funds have recently bought and sold shares of the stock. Raymond James Financial Inc. purchased a new stake in SpartanNash in the fourth quarter worth about $319,000. GAMMA Investing LLC lifted its holdings in SpartanNash by 8.5% in the first quarter. GAMMA Investing LLC now owns 8,097 shares of the company's stock worth $164,000 after buying an additional 636 shares during the period. SG Americas Securities LLC purchased a new stake in SpartanNash in the first quarter worth about $426,000. AXA S.A. lifted its holdings in SpartanNash by 465.1% in the fourth quarter. AXA S.A. now owns 58,354 shares of the company's stock worth $1,069,000 after buying an additional 48,028 shares during the period. Finally, New York State Common Retirement Fund lifted its holdings in SpartanNash by 43.0% in the first quarter. New York State Common Retirement Fund now owns 54,354 shares of the company's stock worth $1,101,000 after buying an additional 16,332 shares during the period. 84.59% of the stock is currently owned by hedge funds and other institutional investors.

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.