SpartanNash (NASDAQ:SPTN) Shares Gap Down Following Weak Earnings

Shares of SpartanNash (NASDAQ:SPTN - Get Free Report) gapped down before the market opened on Thursday following a weaker than expected earnings announcement. The stock had previously closed at $19.48, but opened at $18.65. SpartanNash shares last traded at $19.14, with a volume of 62,135 shares trading hands.

The company reported $0.35 EPS for the quarter, missing analysts' consensus estimates of $0.43 by ($0.08). The company had revenue of $2.91 billion for the quarter, compared to the consensus estimate of $2.87 billion. The company's revenue for the quarter was up 3.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.53 earnings per share.

SpartanNash Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders 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 dividend yield of 4.50%. SpartanNash's dividend payout ratio (DPR) is currently -8,800.00%.

Wall Street Analysts Forecast Growth

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SPTN. Nisa Investment Advisors LLC grew its position in SpartanNash by 3,585.1% in the fourth quarter. Nisa Investment Advisors LLC now owns 1,732 shares of the company's stock worth $32,000 after acquiring an additional 1,685 shares in the last quarter. State of Wyoming purchased a new position in SpartanNash in the fourth quarter worth $43,000. Tower Research Capital LLC TRC grew its position in SpartanNash by 167.4% in the fourth quarter. Tower Research Capital LLC TRC now owns 5,966 shares of the company's stock worth $109,000 after acquiring an additional 3,735 shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main purchased a new position in SpartanNash in the fourth quarter worth $113,000. Finally, KLP Kapitalforvaltning AS purchased a new position in SpartanNash in the fourth quarter worth $132,000. 84.59% of the stock is currently owned by hedge funds and other institutional investors.

SpartanNash Price Performance

The company has a quick ratio of 0.78, a current ratio of 1.57 and a debt-to-equity ratio of 1.00. The company has a market capitalization of $661.51 million, a PE ratio of -1,954.00 and a beta of 0.42. The firm's 50-day moving average is $19.65 and its 200-day moving average is $19.22.

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.