SpartanNash (NASDAQ:SPTN) Trading Down 6.4% After Earnings Miss

SpartanNash (NASDAQ:SPTN - Get Free Report) shares traded down 6.4% on Friday after the company announced weaker than expected quarterly earnings. The stock traded as low as $20.33 and last traded at $20.07. 174,593 shares were traded during trading, a decline of 36% from the average session volume of 271,837 shares. The stock had previously closed at $21.44.

The company reported $0.35 earnings per share (EPS) for the quarter, missing the consensus estimate 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. During the same period in the prior year, the company posted $0.53 earnings per share. The company's quarterly revenue was up 3.7% on a year-over-year basis.

SpartanNash Dividend Announcement

The business 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 $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 4.50%. The ex-dividend date is Friday, June 13th. SpartanNash's dividend payout ratio (DPR) is -275.00%.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. Wall Street Zen downgraded 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 note on Wednesday, February 19th.

Institutional Investors Weigh In On SpartanNash

Hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in SpartanNash by 1.8% in the fourth quarter. Vanguard Group Inc. now owns 3,250,372 shares of the company's stock worth $59,547,000 after buying an additional 57,458 shares during the last quarter. Invesco Ltd. lifted its stake in SpartanNash by 25.1% in the fourth quarter. Invesco Ltd. now owns 1,243,507 shares of the company's stock valued at $22,781,000 after acquiring an additional 249,616 shares during the last quarter. American Century Companies Inc. grew its position in SpartanNash by 13.0% in the first quarter. American Century Companies Inc. now owns 1,177,857 shares of the company's stock worth $23,863,000 after acquiring an additional 135,665 shares in the last quarter. LSV Asset Management increased its stake in shares of SpartanNash by 12.2% during the 1st quarter. LSV Asset Management now owns 1,096,261 shares of the company's stock worth $22,210,000 after purchasing an additional 118,863 shares during the last quarter. Finally, Millennium Management LLC increased its stake in shares of SpartanNash by 837.8% during the 1st quarter. Millennium Management LLC now owns 515,436 shares of the company's stock worth $10,443,000 after purchasing an additional 460,474 shares during the last quarter. 84.59% of the stock is owned by hedge funds and other institutional investors.

SpartanNash Stock Down 8.9%

The company has a current ratio of 1.57, a quick ratio of 0.78 and a debt-to-equity ratio of 1.00. The business's fifty day moving average price is $19.65 and its two-hundred day moving average price is $19.23. The firm has a market cap of $661.51 million, a P/E ratio of -1,954.00 and a beta of 0.42.

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.