ProShare Advisors LLC Boosts Position in SpartanNash (NASDAQ:SPTN)

ProShare Advisors LLC lifted its holdings in SpartanNash (NASDAQ:SPTN) by 7.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 364,537 shares of the company’s stock after acquiring an additional 24,578 shares during the period. ProShare Advisors LLC owned approximately 1.06% of SpartanNash worth $7,367,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Avantax Advisory Services Inc. lifted its position in SpartanNash by 17.2% during the 1st quarter. Avantax Advisory Services Inc. now owns 12,839 shares of the company’s stock worth $259,000 after acquiring an additional 1,881 shares in the last quarter. Russell Investments Group Ltd. lifted its position in shares of SpartanNash by 6.6% during the first quarter. Russell Investments Group Ltd. now owns 41,703 shares of the company’s stock worth $843,000 after purchasing an additional 2,568 shares in the last quarter. Inspire Investing LLC purchased a new position in shares of SpartanNash in the first quarter valued at $358,000. Concurrent Investment Advisors LLC acquired a new stake in SpartanNash during the 1st quarter valued at $679,000. Finally, Illinois Municipal Retirement Fund increased its stake in SpartanNash by 5.1% during the 1st quarter. Illinois Municipal Retirement Fund now owns 20,671 shares of the company’s stock worth $418,000 after buying an additional 1,007 shares during the period. Hedge funds and other institutional investors own 84.59% of the company’s stock.

SpartanNash Stock Up 5.0 %

Shares of NASDAQ:SPTN opened at $20.05 on Thursday. The firm has a market cap of $679.49 million, a PE ratio of 12.94 and a beta of 0.41. The company has a fifty day simple moving average of $19.35 and a 200 day simple moving average of $20.35. The company has a current ratio of 1.75, a quick ratio of 0.84 and a debt-to-equity ratio of 0.78. SpartanNash has a 12-month low of $17.74 and a 12-month high of $24.51.

SpartanNash (NASDAQ:SPTN) last issued its quarterly earnings results on Thursday, May 30th. The company reported $0.53 EPS for the quarter, topping the consensus estimate of $0.52 by $0.01. SpartanNash had a net margin of 0.56% and a return on equity of 9.22%. The business had revenue of $2.81 billion for the quarter, compared to analysts’ expectations of $2.86 billion. During the same quarter last year, the company posted $0.64 earnings per share. The company’s quarterly revenue was down 3.6% compared to the same quarter last year. On average, equities research analysts anticipate that SpartanNash will post 1.96 EPS for the current fiscal year.

SpartanNash Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 14th were given a dividend of $0.218 per share. The ex-dividend date was Friday, June 14th. This represents a $0.87 annualized dividend and a dividend yield of 4.35%. This is a positive change from SpartanNash’s previous quarterly dividend of $0.22. SpartanNash’s dividend payout ratio is currently 56.13%.

Wall Street Analysts Forecast Growth

Separately, BMO Capital Markets cut their price target on SpartanNash from $22.00 to $20.00 and set a “market perform” rating on the stock in a research note on Friday, May 31st.

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.