SpartanNash (NASDAQ:SPTN) Sets New 52-Week Low – What’s Next?

SpartanNash (NASDAQ:SPTN)’s stock price hit a new 52-week low during mid-day trading on Tuesday . The company traded as low as $17.30 and last traded at $17.49, with a volume of 239632 shares changing hands. The stock had previously closed at $17.43.

Analyst Ratings Changes

Separately, StockNews.com upgraded SpartanNash from a “hold” rating to a “buy” rating in a report on Tuesday.

SpartanNash Price Performance

The company has a debt-to-equity ratio of 0.80, a current ratio of 1.62 and a quick ratio of 0.83. The stock has a market capitalization of $612.74 million, a P/E ratio of 13.65 and a beta of 0.35. The stock’s fifty day moving average is $18.65 and its 200-day moving average is $20.10.

SpartanNash (NASDAQ:SPTN) last released its quarterly earnings results on Thursday, November 7th. The company reported $0.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.47 by $0.01. SpartanNash had a return on equity of 8.57% and a net margin of 0.48%. The company had revenue of $2.25 billion during the quarter, compared to the consensus estimate of $2.24 billion. During the same quarter in the prior year, the company posted $0.54 EPS. The firm’s revenue was down .6% on a year-over-year basis. On average, equities analysts anticipate that SpartanNash will post 1.88 earnings per share for the current year.

SpartanNash Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 30th. Investors of record on Monday, December 9th were issued a dividend of $0.2175 per share. This represents a $0.87 annualized dividend and a dividend yield of 4.79%. The ex-dividend date was Monday, December 9th. SpartanNash’s dividend payout ratio is currently 65.41%.

Institutional Investors Weigh In On SpartanNash

Hedge funds have recently bought and sold shares of the company. American Century Companies Inc. boosted its stake in SpartanNash by 20.0% during the 2nd quarter. American Century Companies Inc. now owns 744,282 shares of the company’s stock valued at $13,963,000 after purchasing an additional 123,952 shares during the period. Dana Investment Advisors Inc. grew its stake in shares of SpartanNash by 14.5% in the second quarter. Dana Investment Advisors Inc. now owns 328,357 shares of the company’s stock worth $6,160,000 after acquiring an additional 41,619 shares during the last quarter. Ellsworth Advisors LLC increased its position in SpartanNash by 0.8% during the third quarter. Ellsworth Advisors LLC now owns 223,742 shares of the company’s stock worth $5,014,000 after acquiring an additional 1,803 shares during the period. AQR Capital Management LLC raised its stake in SpartanNash by 17.8% during the 2nd quarter. AQR Capital Management LLC now owns 197,551 shares of the company’s stock valued at $3,706,000 after purchasing an additional 29,849 shares during the last quarter. Finally, Dean Investment Associates LLC boosted its holdings in SpartanNash by 54.2% in the 3rd quarter. Dean Investment Associates LLC now owns 188,335 shares of the company’s stock valued at $4,221,000 after purchasing an additional 66,178 shares during the period. 84.59% of the stock is currently owned by institutional investors.

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.