SpartanNash (NASDAQ:SPTN) Hits New 12-Month Low – Here’s Why

SpartanNash (NASDAQ:SPTN)’s stock price hit a new 52-week low on Tuesday . The stock traded as low as $17.30 and last traded at $17.49, with a volume of 239632 shares traded. The stock had previously closed at $17.43.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded SpartanNash from a “hold” rating to a “buy” rating in a research report on Tuesday.

SpartanNash Stock Up 1.7 %

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 fifty day moving average price is $18.65 and its 200 day moving average price is $20.10. The company has a market capitalization of $612.74 million, a P/E ratio of 13.65 and a beta of 0.35.

SpartanNash (NASDAQ:SPTN) last released 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 the consensus estimate of $2.24 billion. SpartanNash had a return on equity of 8.57% and a net margin of 0.48%. The company’s quarterly revenue was down .6% on a year-over-year basis. During the same period in the previous year, the business earned $0.54 earnings per share. As a group, 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 declared a quarterly dividend, which was paid on Monday, December 30th. Investors of record on Monday, December 9th were given a dividend of $0.2175 per share. The ex-dividend date of this dividend was Monday, December 9th. This represents a $0.87 dividend on an annualized basis and a yield of 4.79%. SpartanNash’s dividend payout ratio (DPR) is presently 65.41%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in SPTN. Canada Pension Plan Investment Board acquired a new position in SpartanNash during the 2nd quarter valued at about $34,000. Signaturefd LLC raised its stake in shares of SpartanNash by 64.9% during the third quarter. Signaturefd LLC now owns 1,801 shares of the company’s stock worth $40,000 after buying an additional 709 shares during the last quarter. Point72 Hong Kong Ltd acquired a new position in SpartanNash in the second quarter valued at approximately $79,000. GAMMA Investing LLC boosted its stake in SpartanNash by 64.7% in the third quarter. GAMMA Investing LLC now owns 3,920 shares of the company’s stock valued at $88,000 after acquiring an additional 1,540 shares during the last quarter. Finally, Blue Trust Inc. raised its position in shares of SpartanNash by 308.8% during the 3rd quarter. Blue Trust Inc. now owns 7,531 shares of the company’s stock valued at $169,000 after acquiring an additional 5,689 shares during the last quarter. 84.59% of the stock is owned by institutional investors.

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.