Renaissance Technologies LLC Decreases Position in SpartanNash (NASDAQ:SPTN)

Renaissance Technologies LLC reduced its position in shares of SpartanNash (NASDAQ:SPTN) by 14.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 823,712 shares of the company’s stock after selling 138,729 shares during the period. Renaissance Technologies LLC owned about 2.43% of SpartanNash worth $15,453,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Vanguard Group Inc. lifted its position in shares of SpartanNash by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 3,123,088 shares of the company’s stock worth $63,118,000 after purchasing an additional 20,262 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of SpartanNash by 0.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,809,909 shares of the company’s stock worth $64,488,000 after purchasing an additional 11,683 shares during the last quarter. American Century Companies Inc. lifted its position in shares of SpartanNash by 20.0% during the 2nd quarter. American Century Companies Inc. now owns 744,282 shares of the company’s stock worth $13,963,000 after purchasing an additional 123,952 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of SpartanNash by 7.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 477,579 shares of the company’s stock worth $10,960,000 after purchasing an additional 33,550 shares during the last quarter. Finally, ProShare Advisors LLC lifted its position in shares of SpartanNash by 7.2% during the 1st quarter. ProShare Advisors LLC now owns 364,537 shares of the company’s stock worth $7,367,000 after purchasing an additional 24,578 shares during the last quarter. 84.59% of the stock is owned by hedge funds and other institutional investors.

SpartanNash Price Performance

Shares of SPTN opened at $21.66 on Friday. SpartanNash has a 1-year low of $17.74 and a 1-year high of $24.51. The stock has a market cap of $734.10 million, a PE 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. The firm has a fifty day moving average price of $20.91 and a 200 day moving average price of $19.98.

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

SpartanNash Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 4th. Shareholders of record on Monday, September 23rd will be paid a $0.218 dividend. The ex-dividend date of this dividend is Monday, September 23rd. This represents a $0.87 dividend on an annualized basis and a yield of 4.03%. SpartanNash’s dividend payout ratio is presently 56.13%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. BMO Capital Markets decreased their price objective 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. StockNews.com raised shares of SpartanNash from a “hold” rating to a “buy” rating in a research report on Wednesday.

SpartanNash 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.