SpartanNash (NASDAQ:SPTN) Reaches New 1-Year High - Still a Buy?

Key Points

• SpartanNash reached a new 52-week high of $26.70, with a last trading price of $26.60 on Monday, reflecting increased investor interest with over 1.4 million shares traded.
• Recent analyst ratings indicate a downgrade from "buy" to "hold" by Wall Street Zen, while BMO Capital Markets set a target price of $26.90, up from $20.00.
• The company announced a quarterly dividend of $0.22, translating to an annualized yield of 3.3%, although it reported a negative net margin of 0.16% for the quarter.

SpartanNash Company (NASDAQ:SPTN - Get Free Report) hit a new 52-week high on Monday . The stock traded as high as $26.70 and last traded at $26.60, with a volume of 1439690 shares traded. The stock had previously closed at $26.52.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on SPTN. Wall Street Zen downgraded SpartanNash from a "buy" rating to a "hold" rating in a research report on Friday, May 30th. BMO Capital Markets restated a "market perform" rating and set a $26.90 target price (up previously from $20.00) on shares of SpartanNash in a report on Tuesday, June 24th.

SpartanNash Stock Up 0.3%

The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.80 and a current ratio of 1.57. The firm has a market cap of $900.41 million, a price-to-earnings ratio of -55.42 and a beta of 0.46. The business's 50 day moving average price is $24.85 and its 200 day moving average price is $21.44.

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

SpartanNash Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, June 13th were paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date of this dividend was Friday, June 13th. SpartanNash's dividend payout ratio (DPR) is -183.33%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in SPTN. State of Wyoming purchased a new position in SpartanNash during the fourth quarter worth about $43,000. CWM LLC raised its holdings in 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 buying an additional 1,732 shares during the period. Longfellow Investment Management Co. LLC acquired a new position in SpartanNash in the second quarter valued at about $72,000. Tower Research Capital LLC TRC boosted its stake in SpartanNash by 264.7% during the second quarter. Tower Research Capital LLC TRC now owns 3,107 shares of the company's stock worth $82,000 after buying an additional 2,255 shares during the period. Finally, Nisa Investment Advisors LLC increased its holdings in SpartanNash by 79.1% in the 2nd quarter. Nisa Investment Advisors LLC now owns 3,171 shares of the company's stock valued at $84,000 after purchasing an additional 1,400 shares during the last quarter. 84.59% of the stock is currently owned by institutional investors and hedge funds.

About SpartanNash

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.

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