BMO Capital Markets Issues Positive Forecast for SpartanNash (NASDAQ:SPTN) Stock Price

SpartanNash (NASDAQ:SPTN - Free Report) had its price objective raised by BMO Capital Markets from $20.00 to $26.90 in a research note issued to investors on Tuesday morning,Benzinga reports. They currently have a market perform rating on the stock.

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

SpartanNash Trading Down 0.5%

NASDAQ SPTN traded down $0.12 on Tuesday, reaching $26.45. 4,542,708 shares of the company were exchanged, compared to its average volume of 330,587. The business's fifty day moving average price is $19.33 and its 200 day moving average price is $19.24. The stock has a market capitalization of $895.33 million, a P/E ratio of -82.66 and a beta of 0.34. The company has a current ratio of 1.66, a quick ratio of 0.86 and a debt-to-equity ratio of 1.03. SpartanNash has a fifty-two week low of $17.30 and a fifty-two week high of $26.89.

SpartanNash (NASDAQ:SPTN - Get Free Report) last announced its quarterly earnings results on Thursday, May 29th. The company reported $0.35 earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.08). The firm had revenue of $2.91 billion for the quarter, compared to analyst estimates 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 was up 3.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.53 EPS. Analysts forecast that SpartanNash will post 1.79 earnings per share for the current year.

SpartanNash Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 13th will be given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 3.33%. The ex-dividend date is Friday, June 13th. SpartanNash's dividend payout ratio (DPR) is presently -275.00%.

Institutional Investors Weigh In On SpartanNash

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Millennium Management LLC increased its position in SpartanNash by 837.8% in the 1st quarter. Millennium Management LLC now owns 515,436 shares of the company's stock valued at $10,443,000 after acquiring an additional 460,474 shares during the period. Invesco Ltd. increased its holdings in shares of SpartanNash by 25.1% in the fourth quarter. Invesco Ltd. now owns 1,243,507 shares of the company's stock valued at $22,781,000 after purchasing an additional 249,616 shares during the period. GAMMA Investing LLC increased its holdings in shares of SpartanNash by 2,098.7% in the first quarter. GAMMA Investing LLC now owns 164,045 shares of the company's stock valued at $3,324,000 after purchasing an additional 156,584 shares during the period. American Century Companies Inc. increased its holdings in shares of SpartanNash by 13.0% in the first quarter. American Century Companies Inc. now owns 1,177,857 shares of the company's stock valued at $23,863,000 after purchasing an additional 135,665 shares during the period. Finally, LSV Asset Management increased its holdings in shares of SpartanNash by 12.2% in the first quarter. LSV Asset Management now owns 1,096,261 shares of the company's stock valued at $22,210,000 after purchasing an additional 118,863 shares during the period. 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.