SpartanNash (NASDAQ:SPTN) Lowered to “Hold” Rating by StockNews.com

SpartanNash (NASDAQ:SPTN) was downgraded by research analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued to investors on Thursday.

SpartanNash Stock Performance

Shares of SPTN stock opened at $18.46 on Thursday. The firm has a market capitalization of $623.21 million, a price-to-earnings ratio of 13.88 and a beta of 0.35. The company has a current ratio of 1.62, a quick ratio of 0.83 and a debt-to-equity ratio of 0.80. The business’s 50-day moving average price is $18.57 and its 200-day moving average price is $20.10. SpartanNash has a 12 month low of $17.30 and a 12 month high of $23.00.

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

Institutional Investors Weigh In On SpartanNash

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Segall Bryant & Hamill LLC purchased a new stake in shares of SpartanNash during the third quarter valued at approximately $1,802,000. Dean Investment Associates LLC raised its stake in shares of SpartanNash by 54.2% during the 3rd quarter. Dean Investment Associates LLC now owns 188,335 shares of the company’s stock worth $4,221,000 after purchasing an additional 66,178 shares during the period. Barclays PLC boosted its holdings in shares of SpartanNash by 120.0% in the 3rd quarter. Barclays PLC now owns 86,412 shares of the company’s stock worth $1,936,000 after buying an additional 47,141 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in SpartanNash by 71.5% during the third quarter. JPMorgan Chase & Co. now owns 102,486 shares of the company’s stock worth $2,297,000 after buying an additional 42,719 shares during the last quarter. Finally, Marshall Wace LLP bought a new stake in SpartanNash in the second quarter worth about $638,000. Hedge funds and other institutional investors own 84.59% of the company’s stock.

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.