SpartanNash (SPTN) to Issue Quarterly Dividend of $0.22 on October 4th

SpartanNash (NASDAQ:SPTN) announced a quarterly dividend on Wednesday, September 11th, Zacks reports. Stockholders of record on Monday, September 23rd will be paid a dividend of 0.218 per share on Friday, October 4th. This represents a $0.87 dividend on an annualized basis and a dividend yield of 4.03%. The ex-dividend date is Monday, September 23rd.

SpartanNash has increased its dividend payment by an average of 3.8% annually over the last three years and has increased its dividend every year for the last 14 years. SpartanNash has a dividend payout ratio of 41.6% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect SpartanNash to earn $2.15 per share next year, which means the company should continue to be able to cover its $0.87 annual dividend with an expected future payout ratio of 40.5%.

SpartanNash Stock Performance

SPTN stock opened at $21.66 on Friday. SpartanNash has a 1-year low of $17.74 and a 1-year high of $24.51. The business has a 50-day moving average price of $20.91 and a 200 day moving average price of $19.98. The company has a market capitalization of $734.10 million, a P/E ratio of 13.97 and a beta of 0.39. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.62 and a quick ratio of 0.80.

SpartanNash (NASDAQ:SPTN) last released its quarterly earnings results on Thursday, August 15th. The company reported $0.59 EPS for the quarter, beating analysts’ consensus estimates of $0.56 by $0.03. The company had revenue of $2.23 billion during the quarter, compared to analysts’ expectations of $2.27 billion. SpartanNash had a return on equity of 8.87% and a net margin of 0.48%. The firm’s revenue was down 3.5% compared to the same quarter last year. During the same period last year, the business posted $0.65 earnings per share. As a group, equities research analysts forecast that SpartanNash will post 1.98 EPS for the current fiscal year.

Analyst Ratings Changes

SPTN has been the subject of a number of recent research reports. BMO Capital Markets cut their price objective on shares of SpartanNash from $22.00 to $20.00 and set a “market perform” rating for the company in a report on Friday, May 31st. StockNews.com upgraded SpartanNash from a “hold” rating to a “buy” rating in a report on Wednesday.

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.