SpartanNash (NASDAQ:SPTN) Sets New 52-Week High - Time to Buy?

Key Points

• SpartanNash's stock hit a new 52-week high of $26.86 amid mid-day trading, with a trading volume of 467,863 shares.
• Analyst ratings have mixed sentiments: BMO Capital Markets reaffirmed a "market perform" rating with a new price target of $26.90, while Zacks and Wall Street Zen adjusted their ratings to "hold."
• The company announced a quarterly dividend of $0.22, equating to an annualized yield of 3.3%, with an ex-dividend date on September 15th.

SpartanNash Company (NASDAQ:SPTN - Get Free Report)'s stock price reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $26.86 and last traded at $26.85, with a volume of 467863 shares trading hands. The stock had previously closed at $26.81.

Analyst Ratings Changes

Several research firms have recently commented on SPTN. BMO Capital Markets reaffirmed a "market perform" rating and issued a $26.90 target price (up previously from $20.00) on shares of SpartanNash in a research report on Tuesday, June 24th. Wall Street Zen downgraded SpartanNash from a "buy" rating to a "hold" rating in a research report on Friday, May 30th. Finally, Zacks Research raised SpartanNash from a "strong sell" rating to a "hold" rating in a research report on Monday, August 18th. Three investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, SpartanNash presently has a consensus rating of "Hold" and an average target price of $18.45.

SpartanNash Stock Performance

The stock has a fifty day simple moving average of $26.57 and a two-hundred day simple moving average of $22.02. The stock has a market cap of $909.65 million, a price-to-earnings ratio of -55.97 and a beta of 0.50. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.80 and a current ratio of 1.57.

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

SpartanNash Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th will be issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date of this dividend is Monday, September 15th. SpartanNash's dividend payout ratio (DPR) is currently -183.33%.

Institutional Investors Weigh In On SpartanNash

Large investors have recently modified their holdings of the business. Universal Beteiligungs und Servicegesellschaft mbH lifted its stake in shares of SpartanNash by 0.6% in the 1st quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 104,853 shares of the company's stock valued at $2,124,000 after acquiring an additional 600 shares during the last quarter. GAMMA Investing LLC lifted its stake in shares of SpartanNash by 8.5% in the 1st quarter. GAMMA Investing LLC now owns 8,097 shares of the company's stock valued at $164,000 after acquiring an additional 636 shares during the last quarter. SummerHaven Investment Management LLC lifted its stake in shares of SpartanNash by 1.6% in the 2nd quarter. SummerHaven Investment Management LLC now owns 43,495 shares of the company's stock valued at $1,152,000 after acquiring an additional 688 shares during the last quarter. EverSource Wealth Advisors LLC lifted its stake in shares of SpartanNash by 23.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,685 shares of the company's stock valued at $98,000 after acquiring an additional 696 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of SpartanNash by 4.0% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,198 shares of the company's stock valued at $352,000 after acquiring an additional 732 shares during the last quarter. Institutional investors and hedge funds own 84.59% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.