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

SpartanNash Company (NASDAQ:SPTN - Get Free Report) reached a new 52-week high during trading on Monday . The company traded as high as $26.51 and last traded at $26.39, with a volume of 3291522 shares. The stock had previously closed at $17.64.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Wall Street Zen downgraded SpartanNash from a "buy" rating to a "hold" rating in a report on Friday, May 30th. BMO Capital Markets restated a "market perform" rating and set a $26.90 price objective (up from $20.00) on shares of SpartanNash in a research note on Tuesday.

SpartanNash Trading Down 0.2%

The firm has a market cap of $893.64 million, a P/E ratio of -82.50 and a beta of 0.34. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.86 and a current ratio of 1.66. The stock has a fifty day simple moving average of $19.61 and a 200 day simple moving average of $19.34.

SpartanNash (NASDAQ:SPTN - Get Free Report) last posted its earnings results on Thursday, May 29th. The company reported $0.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.08). SpartanNash had a negative net margin of 0.11% and a positive return on equity of 8.26%. The company had revenue of $2.91 billion for the quarter, compared to the consensus estimate of $2.87 billion. During the same quarter in the prior year, the company posted $0.53 EPS. SpartanNash's revenue was up 3.7% on a year-over-year basis. On average, research analysts expect that SpartanNash Company will post 1.79 earnings per share for the current fiscal year.

SpartanNash Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 13th will be paid a $0.22 dividend. The ex-dividend date is Friday, June 13th. This represents a $0.88 annualized dividend and a yield of 3.33%. SpartanNash's payout ratio is -275.00%.

Hedge Funds Weigh In On SpartanNash

Institutional investors have recently added to or reduced their stakes in the company. Voya Investment Management LLC lifted its position in SpartanNash by 17.3% during 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 during the last quarter. Jane Street Group LLC grew its holdings in shares of SpartanNash by 130.0% in 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 during the last quarter. Empowered Funds LLC boosted its holdings in shares of SpartanNash by 2.1% in the first quarter. Empowered Funds LLC now owns 182,033 shares of the company's stock valued at $3,688,000 after purchasing an additional 3,686 shares during the period. Dean Capital Management lifted its stake in SpartanNash by 203.6% in the first quarter. Dean Capital Management now owns 85,777 shares of the company's stock worth $1,738,000 after acquiring an additional 57,523 shares during the period. Finally, Caxton Associates LLP bought a new stake in SpartanNash during the 1st quarter valued at $502,000. Hedge funds and other institutional investors 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.