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

Key Points

• SpartanNash stock reached a new 52-week high of $26.95, closing at $26.91, with a trading volume of 388,925 shares.
• Analysts have given SpartanNash a consensus rating of "Hold," with a new target price from BMO Capital Markets set at $26.90, up from $20.00.
• The company recently announced a quarterly dividend of $0.22 per share, resulting in an annualized dividend of $0.88 and a yield of 3.3%.

SpartanNash Company (NASDAQ:SPTN - Get Free Report) hit a new 52-week high on Friday . The stock traded as high as $26.95 and last traded at $26.91, with a volume of 388925 shares. The stock had previously closed at $26.46.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Wall Street Zen lowered shares of SpartanNash from a "buy" rating to a "hold" rating in a research note on Friday, May 30th. Zacks Research upgraded shares of SpartanNash from a "strong sell" rating to a "hold" rating in a research report on Monday, August 18th. Finally, BMO Capital Markets reiterated a "market perform" rating and set a $26.90 price target (up previously from $20.00) on shares of SpartanNash in a report on Tuesday, June 24th. Three equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, SpartanNash has a consensus rating of "Hold" and an average price target of $18.45.

SpartanNash Price Performance

The stock has a market capitalization of $910.78 million, a price-to-earnings ratio of -56.04 and a beta of 0.50. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.57 and a quick ratio of 0.80. The company has a 50-day simple moving average of $26.61 and a two-hundred day simple moving average of $22.67.

SpartanNash (NASDAQ:SPTN - Get Free Report) last released its earnings results on Thursday, August 14th. The company reported $0.54 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.50 by $0.04. The firm had revenue of $2.27 billion for the quarter, compared to analyst estimates of $2.29 billion. SpartanNash had a positive return on equity of 8.19% and a negative net margin of 0.16%.SpartanNash's revenue was up 1.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.59 earnings per share. On average, equities research analysts predict that SpartanNash Company will post 1.79 earnings per share for the current year.

SpartanNash Dividend Announcement

The firm also recently disclosed 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 currently -183.33%.

Hedge Funds Weigh In On SpartanNash

A number of large investors have recently bought and sold shares of the company. State of Wyoming acquired a new stake in SpartanNash during the fourth quarter worth approximately $43,000. CWM LLC boosted its stake in shares of SpartanNash by 246.0% in the 2nd quarter. CWM LLC now owns 2,436 shares of the company's stock valued at $65,000 after purchasing an additional 1,732 shares during the last quarter. Longfellow Investment Management Co. LLC bought a new stake in SpartanNash in the second quarter worth approximately $72,000. Tower Research Capital LLC TRC boosted its holdings in SpartanNash by 264.7% in the second quarter. Tower Research Capital LLC TRC now owns 3,107 shares of the company's stock worth $82,000 after acquiring an additional 2,255 shares in the last quarter. Finally, Nisa Investment Advisors LLC increased its holdings in SpartanNash by 79.1% during the 2nd quarter. Nisa Investment Advisors LLC now owns 3,171 shares of the company's stock worth $84,000 after purchasing an additional 1,400 shares in the last quarter. Institutional investors and hedge funds own 84.59% of the company's stock.

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.