SpartanNash (NASDAQ:SPTN) Stock Crosses Above 200 Day Moving Average - What's Next?

Key Points

• SpartanNash's share price surpassed its 200-day moving average, reaching a high of $26.58 compared to the average of $21.34, indicating a potential upward trend in its stock value.
• Recent analyst ratings saw Wall Street Zen downgrade SpartanNash from a "buy" to a "hold" rating, while BMO Capital Markets raised its price target from $20 to $26.90.
• The company reported earnings of $0.54 per share for the last quarter, exceeding analyst expectations slightly, but showed a decline in revenue year-over-year compared to analyst forecasts.

SpartanNash Company (NASDAQ:SPTN - Get Free Report) shares crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $21.34 and traded as high as $26.58. SpartanNash shares last traded at $26.53, with a volume of 572,632 shares.

Analyst Ratings Changes

A number of brokerages recently weighed in on SPTN. Wall Street Zen downgraded shares of SpartanNash from a "buy" rating to a "hold" rating in a research note on Friday, May 30th. BMO Capital Markets reiterated a "market perform" rating and set a $26.90 price objective (up from $20.00) on shares of SpartanNash in a report on Tuesday, June 24th. Two research analysts have rated the stock with a Hold rating, According to data from MarketBeat, SpartanNash currently has an average rating of "Hold" and an average target price of $18.45.

SpartanNash Price Performance

The company has a current ratio of 1.57, a quick ratio of 0.80 and a debt-to-equity ratio of 0.96. The company has a market capitalization of $900.24 million, a P/E ratio of -55.41 and a beta of 0.46. The business's fifty day moving average price is $25.00 and its 200-day moving average price is $21.50.

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, topping analysts' consensus estimates of $0.50 by $0.04. The company had revenue of $2.27 billion during 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 firm's revenue was up 1.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.59 EPS. As a group, sell-side analysts predict that SpartanNash Company will post 1.79 earnings per share for the current fiscal year.

SpartanNash Dividend Announcement

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

Hedge Funds Weigh In On SpartanNash

A number of hedge funds have recently modified their holdings of the company. Invesco Ltd. lifted its holdings in SpartanNash by 54.2% in the second quarter. Invesco Ltd. now owns 1,512,434 shares of the company's stock worth $40,064,000 after buying an additional 531,666 shares during the period. American Century Companies Inc. increased its position in shares of SpartanNash by 8.7% during the second quarter. American Century Companies Inc. now owns 1,280,746 shares of the company's stock valued at $33,927,000 after acquiring an additional 102,889 shares in the last quarter. LSV Asset Management increased its position in shares of SpartanNash by 12.2% during the first quarter. LSV Asset Management now owns 1,096,261 shares of the company's stock valued at $22,210,000 after acquiring an additional 118,863 shares in the last quarter. Magnetar Financial LLC bought a new stake in shares of SpartanNash during the second quarter valued at approximately $28,228,000. Finally, Alliancebernstein L.P. lifted its position in SpartanNash by 2,571.5% during the second quarter. Alliancebernstein L.P. now owns 932,584 shares of the company's stock valued at $24,704,000 after purchasing an additional 897,675 shares during the period. Hedge funds and other institutional investors 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.