SpartanNash (NASDAQ:SPTN) Issues Quarterly Earnings Results, Beats Estimates By $0.04 EPS

Key Points

• SpartanNash reported quarterly earnings of $0.54 EPS, exceeding analysts' expectations by $0.04, despite revenue of $2.27 billion falling short of estimates.
• The company declared a quarterly dividend of $0.22 per share, representing an annualized amount of $0.88 and a yield of 3.3%.
• Institutional investors own 84.59% of SpartanNash's stock, with several firms increasing their positions in the company during recent quarters.

SpartanNash (NASDAQ:SPTN - Get Free Report) issued its quarterly earnings results on Thursday. The company reported $0.54 EPS for the quarter, beating analysts' consensus estimates of $0.50 by $0.04, RTT News reports. The business had revenue of $2.27 billion for the quarter, compared to analysts' expectations of $2.29 billion. SpartanNash had a negative net margin of 0.16% and a positive return on equity of 8.19%. The business's quarterly revenue was up 1.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.59 earnings per share.

SpartanNash Stock Up 0.0%

Shares of SPTN stock traded up $0.0050 on Wednesday, reaching $26.6050. 322,475 shares of the company were exchanged, compared to its average volume of 515,655. The company has a market cap of $900.58 million, a price-to-earnings ratio of -55.43 and a beta of 0.46. The company has a 50-day moving average of $25.16 and a 200-day moving average of $21.54. 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 one year low of $17.30 and a one year high of $26.71.

Analyst Upgrades and Downgrades

A number of brokerages have commented on SPTN. Wall Street Zen cut shares of SpartanNash from a "buy" rating to a "hold" rating in a research report on Friday, May 30th. Zacks Research raised shares of SpartanNash from a "strong sell" rating to a "hold" rating in a research report on Monday. Finally, BMO Capital Markets reaffirmed a "market perform" rating and set a $26.90 price target (up previously from $20.00) on shares of SpartanNash in a research report on Tuesday, June 24th. Three research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $18.45.

Hedge Funds Weigh In On SpartanNash

Institutional investors and hedge funds have recently made changes to their positions in the stock. Tower Research Capital LLC TRC boosted its position in shares of SpartanNash by 264.7% during the 2nd quarter. Tower Research Capital LLC TRC now owns 3,107 shares of the company's stock worth $82,000 after purchasing an additional 2,255 shares in the last quarter. EverSource Wealth Advisors LLC boosted its position in shares of SpartanNash by 23.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,685 shares of the company's stock worth $98,000 after purchasing an additional 696 shares in the last quarter. State of Wyoming bought a new position in SpartanNash in the 2nd quarter valued at about $224,000. Quantinno Capital Management LP bought a new position in SpartanNash in the 2nd quarter valued at about $263,000. Finally, The Manufacturers Life Insurance Company lifted its position in SpartanNash by 8.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 12,522 shares of the company's stock valued at $332,000 after acquiring an additional 954 shares in the last quarter. 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.