SpartanNash (NASDAQ:SPTN) Hits New 52-Week Low at $18.16

SpartanNash (NASDAQ:SPTN)’s share price reached a new 52-week low during trading on Wednesday . The stock traded as low as $18.16 and last traded at $18.16, with a volume of 27334 shares changing hands. The stock had previously closed at $18.24.

Analyst Ratings Changes

Separately, BMO Capital Markets lowered their target price on shares of 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 Stock Performance

The firm’s fifty day simple moving average is $19.51 and its 200 day simple moving average is $20.65. The company has a market capitalization of $611.71 million, a price-to-earnings ratio of 11.65 and a beta of 0.41. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.75 and a quick ratio of 0.84.

SpartanNash (NASDAQ:SPTN) last announced its 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 company had revenue of $2.81 billion during the quarter, compared to analysts’ expectations of $2.86 billion. During the same period last year, the company posted $0.64 earnings per share. The business’s revenue for the quarter was down 3.6% on a year-over-year basis. On average, sell-side analysts forecast that SpartanNash will post 1.96 EPS for the current year.

SpartanNash Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 14th were issued a dividend of $0.218 per share. This is a boost from SpartanNash’s previous quarterly dividend of $0.22. This represents a $0.87 annualized dividend and a dividend yield of 4.83%. The ex-dividend date of this dividend was Friday, June 14th. SpartanNash’s dividend payout ratio (DPR) is currently 56.13%.

Institutional Trading of SpartanNash

Several institutional investors have recently made changes to their positions in the stock. Allianz Asset Management GmbH raised its position in SpartanNash by 29.6% during the fourth quarter. Allianz Asset Management GmbH now owns 183,172 shares of the company’s stock valued at $4,204,000 after acquiring an additional 41,832 shares in the last quarter. Phocas Financial Corp. raised its position in SpartanNash by 162.4% during the fourth quarter. Phocas Financial Corp. now owns 241,986 shares of the company’s stock valued at $5,554,000 after acquiring an additional 149,750 shares in the last quarter. Vanguard Group Inc. raised its position in SpartanNash by 0.9% during the third quarter. Vanguard Group Inc. now owns 2,978,527 shares of the company’s stock valued at $65,528,000 after acquiring an additional 27,667 shares in the last quarter. Jacobs Levy Equity Management Inc. raised its position in SpartanNash by 348.8% during the third quarter. Jacobs Levy Equity Management Inc. now owns 224,350 shares of the company’s stock valued at $4,936,000 after acquiring an additional 174,366 shares in the last quarter. Finally, Assenagon Asset Management S.A. raised its position in SpartanNash by 89.2% during the fourth quarter. Assenagon Asset Management S.A. now owns 446,278 shares of the company’s stock valued at $10,242,000 after acquiring an additional 210,454 shares in the last quarter. 84.59% of the stock is currently owned by institutional investors and hedge funds.

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.