Victory Capital Management Inc. Increases Position in SpartanNash (NASDAQ:SPTN)

Victory Capital Management Inc. lifted its holdings in shares of SpartanNash (NASDAQ:SPTN) by 90.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 27,994 shares of the company’s stock after acquiring an additional 13,313 shares during the quarter. Victory Capital Management Inc. owned 0.08% of SpartanNash worth $513,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of SPTN. Quest Partners LLC grew its stake in SpartanNash by 66.3% in the third quarter. Quest Partners LLC now owns 15,270 shares of the company’s stock worth $342,000 after purchasing an additional 6,088 shares in the last quarter. Segall Bryant & Hamill LLC acquired a new position in SpartanNash in the third quarter worth about $1,802,000. Intech Investment Management LLC grew 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 worth $465,000 after purchasing an additional 8,125 shares in the last quarter. Foundry Partners LLC grew its stake in SpartanNash by 16.5% in the third quarter. Foundry Partners LLC now owns 186,680 shares of the company’s stock worth $4,183,000 after purchasing an additional 26,375 shares in the last quarter. Finally, Martingale Asset Management L P grew its stake in SpartanNash by 2.2% in the third quarter. Martingale Asset Management L P now owns 48,114 shares of the company’s stock worth $1,078,000 after purchasing an additional 1,040 shares in the last quarter. 84.59% of the stock is currently owned by institutional investors and hedge funds.

SpartanNash Stock Performance

Shares of SPTN stock opened at $19.62 on Friday. The company has a quick ratio of 0.78, a current ratio of 1.57 and a debt-to-equity ratio of 1.00. The business has a 50 day moving average of $19.25 and a two-hundred day moving average of $19.87. SpartanNash has a 52 week low of $17.30 and a 52 week high of $23.00. The company has a market cap of $662.47 million, a P/E ratio of -1,962.00 and a beta of 0.34.

SpartanNash (NASDAQ:SPTN) last issued its earnings results on Wednesday, February 12th. The company reported $0.42 EPS for the quarter, beating analysts’ consensus estimates of $0.33 by $0.09. During the same period last year, the company earned $0.35 earnings per share. As a group, analysts anticipate that SpartanNash will post 1.79 EPS for the current year.

SpartanNash Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Friday, March 21st will be given a dividend of $0.22 per share. The ex-dividend date of this dividend is Friday, March 21st. This is an increase from SpartanNash’s previous quarterly dividend of $0.22. This represents a $0.88 annualized dividend and a dividend yield of 4.49%. SpartanNash’s payout ratio is currently -8,800.00%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on SPTN. Northcoast Research downgraded SpartanNash from a “buy” rating to a “neutral” rating and set a $10.00 price target for the company. in a research note on Wednesday, February 19th. StockNews.com upgraded SpartanNash from a “hold” rating to a “buy” rating in a research note on Tuesday.

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.