SpartanNash (NASDAQ:SPTN) Hits New 12-Month High - Still a Buy?

Shares of SpartanNash Company (NASDAQ:SPTN - Get Free Report) hit a new 52-week high on Friday . The company traded as high as $26.69 and last traded at $26.56, with a volume of 242225 shares. The stock had previously closed at $26.55.

Analysts Set New Price Targets

A number of research firms have issued reports on SPTN. Wall Street Zen cut shares of SpartanNash from a "buy" rating to a "hold" rating in a report on Friday, May 30th. 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 report on Tuesday, June 24th.

SpartanNash Price Performance

The company has a quick ratio of 0.86, a current ratio of 1.66 and a debt-to-equity ratio of 1.03. The company has a market capitalization of $899.56 million, a price-to-earnings ratio of -83.05 and a beta of 0.44. The stock's 50-day simple moving average is $20.90 and its two-hundred day simple moving average is $19.83.

SpartanNash (NASDAQ:SPTN - Get Free Report) last released its earnings results on Thursday, May 29th. The company reported $0.35 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.43 by ($0.08). SpartanNash had a positive return on equity of 8.26% and a negative net margin of 0.11%. The business had revenue of $2.91 billion for the quarter, compared to analysts' expectations of $2.87 billion. During the same period in the previous year, the company earned $0.53 EPS. SpartanNash's quarterly revenue was up 3.7% compared to the same quarter last year. Equities research analysts predict that SpartanNash Company will post 1.79 earnings per share for the current year.

SpartanNash Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, June 13th were issued a dividend of $0.22 per share. The ex-dividend date was Friday, June 13th. This represents a $0.88 annualized dividend and a dividend yield of 3.31%. SpartanNash's dividend payout ratio is presently -275.00%.

Hedge Funds Weigh In On SpartanNash

Large investors have recently made changes to their positions in the stock. Assenagon Asset Management S.A. purchased a new stake in shares of SpartanNash in the 2nd quarter valued at approximately $424,000. Exchange Traded Concepts LLC raised its position in shares of SpartanNash by 4.3% during the 2nd quarter. Exchange Traded Concepts LLC now owns 96,084 shares of the company's stock worth $2,545,000 after acquiring an additional 3,967 shares in the last quarter. Wealth Enhancement Advisory Services LLC purchased a new stake in SpartanNash during the second quarter worth approximately $251,000. Voya Investment Management LLC boosted its holdings in SpartanNash by 17.3% in the first quarter. Voya Investment Management LLC now owns 21,000 shares of the company's stock valued at $425,000 after purchasing an additional 3,104 shares in the last quarter. Finally, Jane Street Group LLC raised its holdings in SpartanNash by 130.0% during the first quarter. Jane Street Group LLC now owns 57,908 shares of the company's stock worth $1,173,000 after purchasing an additional 32,727 shares in the last quarter. 84.59% of the stock is currently owned by institutional investors and hedge funds.

SpartanNash Company 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.

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