SpartanNash (NASDAQ:SPTN) Sees Significant Growth in Short Interest

SpartanNash (NASDAQ:SPTN - Get Free Report) saw a significant growth in short interest during the month of May. As of May 15th, there was short interest totalling 1,330,000 shares, a growth of 17.7% from the April 30th total of 1,130,000 shares. Approximately 4.0% of the company's stock are sold short. Based on an average daily volume of 276,700 shares, the short-interest ratio is currently 4.8 days.

Analyst Ratings Changes

Several brokerages recently commented on SPTN. Wall Street Zen lowered shares of SpartanNash from a "buy" rating to a "hold" rating in a research note on Friday, May 30th. Northcoast Research downgraded SpartanNash from a "buy" rating to a "neutral" rating and set a $10.00 target price for the company. in a report on Wednesday, February 19th.

SpartanNash Stock Performance

Shares of SpartanNash stock traded down $0.06 during trading on Friday, reaching $18.35. The company's stock had a trading volume of 153,519 shares, compared to its average volume of 270,711. The company has a 50-day moving average price of $19.54 and a two-hundred day moving average price of $19.24. SpartanNash has a fifty-two week low of $17.30 and a fifty-two week high of $23.00. The firm has a market cap of $621.15 million, a PE ratio of -1,835.50 and a beta of 0.34. The company has a current ratio of 1.57, a quick ratio of 0.78 and a debt-to-equity ratio of 1.00.

SpartanNash (NASDAQ:SPTN - Get Free Report) last posted its quarterly earnings data on Thursday, May 29th. The company reported $0.35 EPS for the quarter, missing analysts' consensus estimates of $0.43 by ($0.08). The business had revenue of $2.91 billion for the quarter, compared to the consensus estimate of $2.87 billion. During the same quarter in the previous year, the company posted $0.53 EPS. The business's revenue for the quarter was up 3.7% compared to the same quarter last year. On average, analysts forecast that SpartanNash will post 1.79 EPS for the current year.

SpartanNash Announces Dividend

The business 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. This represents a $0.88 annualized dividend and a yield of 4.80%. The ex-dividend date of this dividend is Friday, June 13th. SpartanNash's dividend payout ratio is presently -275.00%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Teacher Retirement System of Texas lifted its holdings in shares of SpartanNash by 28.3% during the fourth quarter. Teacher Retirement System of Texas now owns 273,634 shares of the company's stock worth $5,013,000 after purchasing an additional 60,401 shares during the period. Barclays PLC increased its stake in SpartanNash by 120.0% in the 3rd quarter. Barclays PLC now owns 86,412 shares of the company's stock valued at $1,936,000 after buying an additional 47,141 shares during the period. Dana Investment Advisors Inc. raised its position in SpartanNash by 16.7% during the 4th quarter. Dana Investment Advisors Inc. now owns 342,796 shares of the company's stock worth $6,280,000 after buying an additional 48,987 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of SpartanNash in the 4th quarter worth $319,000. Finally, Ieq Capital LLC purchased a new stake in shares of SpartanNash in the fourth quarter valued at about $231,000. 84.59% of the stock is currently owned by hedge funds and other institutional investors.

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.