SpartanNash (NASDAQ:SPTN) Rating Increased to Buy at StockNews.com

StockNews.com upgraded shares of SpartanNash (NASDAQ:SPTN) from a hold rating to a buy rating in a report published on Tuesday morning.

SpartanNash Stock Up 2.0 %

Shares of NASDAQ:SPTN opened at $17.84 on Tuesday. The company has a market capitalization of $602.19 million, a PE ratio of 13.41 and a beta of 0.35. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.83 and a current ratio of 1.62. The company’s fifty day moving average is $18.74 and its 200-day moving average is $20.11. SpartanNash has a 52 week low of $17.30 and a 52 week high of $23.00.

SpartanNash (NASDAQ:SPTN) last posted its quarterly earnings data on Thursday, November 7th. The company reported $0.48 earnings per share for the quarter, topping the consensus estimate of $0.47 by $0.01. The company had revenue of $2.25 billion during the quarter, compared to analyst estimates of $2.24 billion. SpartanNash had a net margin of 0.48% and a return on equity of 8.57%. The company’s revenue was down .6% on a year-over-year basis. During the same quarter last year, the business posted $0.54 earnings per share. Equities research analysts predict that SpartanNash will post 1.88 earnings per share for the current fiscal year.

SpartanNash Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 30th. Stockholders of record on Monday, December 9th were paid a $0.2175 dividend. The ex-dividend date of this dividend was Monday, December 9th. This represents a $0.87 dividend on an annualized basis and a dividend yield of 4.88%. SpartanNash’s dividend payout ratio (DPR) is presently 65.41%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. American Century Companies Inc. raised its stake in shares of SpartanNash by 20.0% in the second 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. raised its position 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 purchasing an additional 41,619 shares during the last quarter. Ellsworth Advisors LLC raised its position in SpartanNash by 0.8% in the 3rd quarter. Ellsworth Advisors LLC now owns 223,742 shares of the company’s stock worth $5,014,000 after purchasing an additional 1,803 shares during the last quarter. AQR Capital Management LLC lifted its holdings in SpartanNash by 17.8% during the 2nd quarter. AQR Capital Management LLC now owns 197,551 shares of the company’s stock worth $3,706,000 after buying an additional 29,849 shares in the last quarter. Finally, Dean Investment Associates LLC boosted its position in SpartanNash by 54.2% in the 3rd quarter. Dean Investment Associates LLC now owns 188,335 shares of the company’s stock valued at $4,221,000 after buying an additional 66,178 shares during the last quarter. Institutional investors and hedge funds own 84.59% of the company’s stock.

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.