SpartanNash (NASDAQ:SPTN) Share Price Passes Above 200-Day Moving Average - Here's What Happened

SpartanNash Company (NASDAQ:SPTN - Get Free Report)'s share price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $19.58 and traded as high as $26.59. SpartanNash shares last traded at $26.54, with a volume of 836,312 shares changing hands.

Analysts Set New Price Targets

A number of equities research analysts have commented on SPTN shares. Wall Street Zen downgraded SpartanNash from a "buy" rating to a "hold" rating in a report on Friday, May 30th. BMO Capital Markets reissued a "market perform" rating and issued a $26.90 target price (up previously from $20.00) on shares of SpartanNash in a report on Tuesday, June 24th.

SpartanNash Trading Up 0.2%

The company has a quick ratio of 0.86, a current ratio of 1.66 and a debt-to-equity ratio of 1.03. The business has a fifty day simple moving average of $20.50 and a 200 day simple moving average of $19.68. The company has a market cap of $899.73 million, a price-to-earnings ratio of -83.06 and a beta of 0.44.

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). SpartanNash had a negative net margin of 0.11% and a positive return on equity of 8.26%. The firm had revenue of $2.91 billion during the quarter, compared to analysts' expectations of $2.87 billion. During the same quarter in the prior year, the business earned $0.53 EPS. The company's quarterly revenue was up 3.7% compared to the same quarter last year. On average, equities analysts anticipate that SpartanNash Company will post 1.79 EPS for the current fiscal year.

SpartanNash Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, June 13th were given a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.31%. The ex-dividend date was Friday, June 13th. SpartanNash's dividend payout ratio is currently -275.00%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. State of Wyoming purchased a new position in shares of SpartanNash in the fourth quarter valued at $43,000. Tower Research Capital LLC TRC increased its position in shares of SpartanNash by 167.4% in the fourth quarter. Tower Research Capital LLC TRC now owns 5,966 shares of the company's stock valued at $109,000 after buying an additional 3,735 shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main purchased a new position in shares of SpartanNash in the fourth quarter valued at $113,000. KLP Kapitalforvaltning AS purchased a new stake in SpartanNash during the 4th quarter worth about $132,000. Finally, AlphaQuest LLC purchased a new stake in SpartanNash during the 1st quarter worth about $153,000. 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.