SpartanNash (NASDAQ:SPTN) Plans $0.22 Quarterly Dividend

SpartanNash (NASDAQ:SPTN - Get Free Report) announced a quarterly dividend on Wednesday, May 21st, RTT News reports. Shareholders of record on Friday, June 13th will be paid a dividend of 0.22 per share on Monday, June 30th. This represents a $0.88 annualized dividend and a yield of 4.68%. The ex-dividend date of this dividend is Friday, June 13th.

SpartanNash has a dividend payout ratio of 48.6% indicating that its dividend is sufficiently covered by earnings. Research analysts expect SpartanNash to earn $1.80 per share next year, which means the company should continue to be able to cover its $0.88 annual dividend with an expected future payout ratio of 48.9%.

SpartanNash Stock Down 0.8%

Shares of NASDAQ SPTN traded down $0.15 during mid-day trading on Friday, reaching $18.81. The company had a trading volume of 243,261 shares, compared to its average volume of 268,717. SpartanNash has a twelve month low of $17.30 and a twelve month high of $23.00. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.78 and a current ratio of 1.57. The stock has a market capitalization of $636.64 million, a PE ratio of -1,881.00 and a beta of 0.42. The stock's 50 day moving average is $19.65 and its 200-day moving average is $19.19.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the stock. Northcoast Research downgraded shares of SpartanNash from a "buy" rating to a "neutral" rating and set a $10.00 price target on the stock. in a research note on Wednesday, February 19th. Wall Street Zen downgraded shares of SpartanNash from a "buy" rating to a "hold" rating in a research note on Tuesday, May 13th.

Institutional Trading of SpartanNash

Several large investors have recently made changes to their positions in the stock. Millennium Management LLC boosted 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 acquiring an additional 460,474 shares in the last quarter. AQR Capital Management LLC boosted its stake in shares of SpartanNash by 2.4% during the 1st quarter. AQR Capital Management LLC now owns 140,160 shares of the company's stock worth $2,840,000 after acquiring an additional 3,349 shares in the last quarter. Jane Street Group LLC boosted its stake in shares of SpartanNash by 130.0% during the 1st quarter. Jane Street Group LLC now owns 57,908 shares of the company's stock worth $1,173,000 after acquiring an additional 32,727 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in SpartanNash by 4.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 20,056 shares of the company's stock valued at $406,000 after purchasing an additional 858 shares during the period. Institutional investors own 84.59% of the company's stock.

About SpartanNash

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.