Bank of New York Mellon Corp Has $8.82 Million Position in SpartanNash (NASDAQ:SPTN)

Bank of New York Mellon Corp grew its stake in shares of SpartanNash (NASDAQ:SPTN) by 13.3% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 481,538 shares of the company’s stock after buying an additional 56,677 shares during the period. Bank of New York Mellon Corp owned approximately 1.43% of SpartanNash worth $8,822,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in SPTN. Victory Capital Management Inc. raised its position in SpartanNash by 35.6% in the third quarter. Victory Capital Management Inc. now owns 14,681 shares of the company’s stock worth $329,000 after purchasing an additional 3,851 shares in the last quarter. Empowered Funds LLC boosted its stake in SpartanNash by 5.3% in the third quarter. Empowered Funds LLC now owns 169,695 shares of the company’s stock valued at $3,803,000 after acquiring an additional 8,576 shares during the last quarter. Quest Partners LLC boosted its stake in SpartanNash by 66.3% in the third quarter. Quest Partners LLC now owns 15,270 shares of the company’s stock valued at $342,000 after acquiring an additional 6,088 shares during the last quarter. Segall Bryant & Hamill LLC bought a new position in SpartanNash in the third quarter valued at approximately $1,802,000. Finally, Intech Investment Management LLC boosted its stake in SpartanNash by 64.3% in the third quarter. Intech Investment Management LLC now owns 20,769 shares of the company’s stock valued at $465,000 after acquiring an additional 8,125 shares during the last quarter. Institutional investors and hedge funds own 84.59% of the company’s stock.

Analyst Upgrades and Downgrades

SPTN has been the topic of a number of recent research reports. StockNews.com cut shares of SpartanNash from a “buy” rating to a “hold” rating in a research note on Thursday, January 30th. Northcoast Research lowered shares of SpartanNash from a “buy” rating to a “neutral” rating and set a $10.00 price objective on the stock. in a report on Wednesday, February 19th.

SpartanNash Stock Up 0.7 %

Shares of SPTN opened at $20.07 on Friday. SpartanNash has a 52 week low of $17.30 and a 52 week high of $23.00. The firm has a market cap of $677.66 million, a P/E ratio of -2,007.00 and a beta of 0.34. The firm’s 50-day simple moving average is $19.03 and its 200 day simple moving average is $19.93. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.78 and a current ratio of 1.57.

SpartanNash (NASDAQ:SPTN) last announced its earnings results on Wednesday, February 12th. The company reported $0.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.33 by $0.09. During the same quarter last year, the business posted $0.35 EPS. On average, analysts forecast that SpartanNash will post 1.79 earnings per share for the current year.

SpartanNash Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Friday, March 21st will be issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 4.38%. The ex-dividend date is Friday, March 21st. This is an increase from SpartanNash’s previous quarterly dividend of $0.22. SpartanNash’s dividend payout ratio is -8,700.00%.

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.