SpartanNash (NASDAQ:SPTN) Given Market Perform Rating at BMO Capital Markets

BMO Capital Markets reaffirmed their market perform rating on shares of SpartanNash (NASDAQ:SPTN - Free Report) in a research report report published on Tuesday morning, MarketBeat reports. The brokerage currently has a $26.90 price target on the stock, up from their previous price target of $20.00.

Separately, Wall Street Zen lowered shares of SpartanNash from a "buy" rating to a "hold" rating in a report on Friday, May 30th.

SpartanNash Stock Up 0.4%

Shares of NASDAQ:SPTN traded up $0.11 during mid-day trading on Tuesday, hitting $26.51. 1,108,769 shares of the company traded hands, compared to its average volume of 344,942. The firm has a market cap of $897.19 million, a P/E ratio of -82.83 and a beta of 0.34. SpartanNash has a 52-week low of $17.30 and a 52-week high of $26.65. The firm's 50 day simple moving average is $19.75 and its 200 day simple moving average is $19.39. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.86 and a current ratio of 1.66.

SpartanNash (NASDAQ:SPTN - Get Free Report) last posted its quarterly earnings data 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). The firm had revenue of $2.91 billion for the quarter, compared to analysts' expectations of $2.87 billion. SpartanNash had a negative net margin of 0.11% and a positive return on equity of 8.26%. The company's revenue for the quarter was up 3.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.53 EPS. On average, equities analysts anticipate that SpartanNash will post 1.79 EPS for the current year.

SpartanNash Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 13th will be paid a dividend of $0.22 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $0.88 dividend on an annualized basis and a yield of 3.32%. SpartanNash's dividend payout ratio (DPR) is presently -275.00%.

Hedge Funds Weigh In On SpartanNash

A number of institutional investors have recently made changes to their positions in the business. State of Wyoming acquired a new stake in shares of SpartanNash during the fourth quarter worth approximately $43,000. Tower Research Capital LLC TRC raised its holdings in SpartanNash by 167.4% in the fourth quarter. Tower Research Capital LLC TRC now owns 5,966 shares of the company's stock valued at $109,000 after acquiring an additional 3,735 shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main bought a new position in SpartanNash during the 4th quarter valued at $113,000. KLP Kapitalforvaltning AS bought a new position in SpartanNash during the 4th quarter valued at $132,000. Finally, AlphaQuest LLC acquired a new position in SpartanNash during the 1st quarter worth $153,000. 84.59% of the stock is 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.