SpartanNash (NASDAQ:SPTN – Get Free Report) fell 4.4% during trading on Wednesday . The stock traded as low as $20.82 and last traded at $20.84. 82,823 shares traded hands during mid-day trading, a decline of 67% from the average session volume of 250,193 shares. The stock had previously closed at $21.79.
Wall Street Analysts Forecast Growth
Several equities analysts have recently weighed in on SPTN shares. StockNews.com raised shares of SpartanNash from a “hold” rating to a “buy” rating in a research note on Wednesday, September 4th. BMO Capital Markets decreased their target price on shares of SpartanNash from $22.00 to $20.00 and set a “market perform” rating for the company in a research report on Friday, May 31st.
Get Our Latest Analysis on SpartanNash
SpartanNash Stock Down 3.4 %
SpartanNash (NASDAQ:SPTN – Get Free Report) last released its earnings results on Thursday, August 15th. The company reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.56 by $0.03. SpartanNash had a net margin of 0.48% and a return on equity of 8.87%. The business had revenue of $2.23 billion during the quarter, compared to analysts’ expectations of $2.27 billion. During the same period last year, the business earned $0.65 earnings per share. The firm’s revenue was down 3.5% on a year-over-year basis. As a group, sell-side analysts forecast that SpartanNash will post 1.98 earnings per share for the current fiscal year.
Hedge Funds Weigh In On SpartanNash
A number of institutional investors have recently bought and sold shares of the business. Parallel Advisors LLC lifted its holdings in SpartanNash by 58.3% during the 4th quarter. Parallel Advisors LLC now owns 1,255 shares of the company’s stock worth $29,000 after purchasing an additional 462 shares during the last quarter. Larson Financial Group LLC acquired a new stake in shares of SpartanNash during the first quarter worth $30,000. nVerses Capital LLC acquired a new position in shares of SpartanNash in the second quarter valued at about $30,000. Canada Pension Plan Investment Board bought a new position in SpartanNash during the second quarter worth about $34,000. Finally, Blue Trust Inc. raised its stake in SpartanNash by 5,317.6% in the 2nd quarter. Blue Trust Inc. now owns 1,842 shares of the company’s stock worth $37,000 after purchasing an additional 1,808 shares in the last quarter. Institutional investors and hedge funds 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.
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