Victory Capital Management Inc. Raises Stake in SpartanNash (NASDAQ:SPTN)

Victory Capital Management Inc. increased its stake in shares of SpartanNash (NASDAQ:SPTN) by 35.6% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 14,681 shares of the company’s stock after purchasing an additional 3,851 shares during the period. Victory Capital Management Inc.’s holdings in SpartanNash were worth $329,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. American Century Companies Inc. increased its stake in SpartanNash by 20.0% in the 2nd quarter. American Century Companies Inc. now owns 744,282 shares of the company’s stock worth $13,963,000 after acquiring an additional 123,952 shares during the last quarter. Dana Investment Advisors Inc. increased its stake in SpartanNash by 14.5% in the 2nd 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. AQR Capital Management LLC increased its stake in SpartanNash by 17.8% in the 2nd quarter. AQR Capital Management LLC now owns 197,551 shares of the company’s stock worth $3,706,000 after acquiring an additional 29,849 shares during the last quarter. Marshall Wace LLP bought a new position in SpartanNash in the 2nd quarter worth about $638,000. Finally, Moloney Securities Asset Management LLC bought a new position in SpartanNash in the 2nd quarter worth about $492,000. Hedge funds and other institutional investors own 84.59% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com lowered SpartanNash from a “buy” rating to a “hold” rating in a research note on Friday, November 8th.

SpartanNash Price Performance

Shares of SpartanNash stock opened at $18.98 on Friday. The firm has a market capitalization of $640.67 million, a PE ratio of 14.27 and a beta of 0.39. The company has a current ratio of 1.62, a quick ratio of 0.83 and a debt-to-equity ratio of 0.80. SpartanNash has a 12 month low of $17.74 and a 12 month high of $24.51. The business’s 50-day moving average price is $20.61 and its 200-day moving average price is $20.31.

SpartanNash (NASDAQ:SPTN) last announced its quarterly earnings data on Thursday, November 7th. The company reported $0.48 earnings per share for the quarter, beating analysts’ consensus estimates of $0.47 by $0.01. The company had revenue of $2.25 billion for the quarter, compared to analysts’ expectations of $2.24 billion. SpartanNash had a return on equity of 8.57% and a net margin of 0.48%. SpartanNash’s revenue for the quarter was down .6% compared to the same quarter last year. During the same period last year, the firm posted $0.54 EPS. Sell-side analysts forecast that SpartanNash will post 1.88 EPS for the current fiscal year.

SpartanNash Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Monday, December 9th will be issued a dividend of $0.2175 per share. The ex-dividend date is Monday, December 9th. This represents a $0.87 dividend on an annualized basis and a dividend yield of 4.58%. SpartanNash’s dividend payout ratio is 65.41%.

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.