SpartanNash (NASDAQ:SPTN) Sees Unusually-High Trading Volume - Here's Why

SpartanNash Company (NASDAQ:SPTN - Get Free Report) shares saw unusually-high trading volume on Tuesday . Approximately 1,671,525 shares changed hands during trading, an increase of 421% from the previous session's volume of 320,688 shares.The stock last traded at $26.42 and had previously closed at $26.57.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on SPTN. BMO Capital Markets restated a "market perform" rating and issued a $26.90 price objective (up previously from $20.00) on shares of SpartanNash in a report on Tuesday. Wall Street Zen cut shares of SpartanNash from a "buy" rating to a "hold" rating in a report on Friday, May 30th.

SpartanNash Trading Up 0.4%

The business has a fifty day moving average price of $19.75 and a 200 day moving average price of $19.39. The firm has a market cap of $897.19 million, a PE ratio of -82.83 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 (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 analysts' consensus estimates of $0.43 by ($0.08). The company had revenue of $2.91 billion during 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%. SpartanNash's revenue was up 3.7% on a year-over-year basis. During the same period last year, the firm earned $0.53 earnings per share. Analysts forecast that SpartanNash Company will post 1.79 EPS for the current year.

SpartanNash Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 13th will be given 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 payout ratio is currently -275.00%.

Institutional Investors Weigh In On SpartanNash

A number of hedge funds have recently added to or reduced their stakes in SPTN. State of Wyoming purchased a new position in shares of SpartanNash in the 4th quarter valued at about $43,000. Tower Research Capital LLC TRC raised its stake in shares of SpartanNash by 167.4% during the 4th quarter. Tower Research Capital LLC TRC now owns 5,966 shares of the company's stock worth $109,000 after buying an additional 3,735 shares during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main purchased a new stake in shares of SpartanNash in the 4th quarter worth about $113,000. KLP Kapitalforvaltning AS acquired a new stake in SpartanNash in the 4th quarter valued at about $132,000. Finally, AlphaQuest LLC acquired a new position in SpartanNash during the first quarter worth about $153,000. Institutional investors and hedge funds own 84.59% of the company's stock.

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.