SpartanNash (NASDAQ:SPTN) Cut to Hold at StockNews.com

StockNews.com downgraded shares of SpartanNash (NASDAQ:SPTN) from a buy rating to a hold rating in a research note issued to investors on Wednesday.

Separately, Northcoast Research cut SpartanNash from a “buy” rating to a “neutral” rating and set a $10.00 price objective for the company. in a research report on Wednesday, February 19th.

SpartanNash Stock Performance

Shares of NASDAQ SPTN opened at $20.03 on Wednesday. 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 firm’s 50-day moving average price is $19.43 and its 200-day moving average price is $19.79. SpartanNash has a 52-week low of $17.30 and a 52-week high of $23.00. The company has a market cap of $676.31 million, a PE ratio of -2,003.00 and a beta of 0.34.

SpartanNash (NASDAQ:SPTN) last issued its earnings results on Wednesday, February 12th. The company reported $0.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.33 by $0.09. During the same quarter in the previous year, the firm posted $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 announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Friday, March 21st will be issued a dividend of $0.22 per share. This is a boost from SpartanNash’s previous quarterly dividend of $0.22. This represents a $0.88 dividend on an annualized basis and a yield of 4.39%. The ex-dividend date is Friday, March 21st. SpartanNash’s dividend payout ratio is currently -8,800.00%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in SPTN. Teacher Retirement System of Texas increased its stake in shares of SpartanNash by 28.3% in the 4th quarter. Teacher Retirement System of Texas now owns 273,634 shares of the company’s stock worth $5,013,000 after purchasing an additional 60,401 shares in the last quarter. Barclays PLC grew its holdings in SpartanNash by 120.0% during the third quarter. Barclays PLC now owns 86,412 shares of the company’s stock valued at $1,936,000 after purchasing an additional 47,141 shares during the period. Dana Investment Advisors Inc. grew its holdings in SpartanNash by 16.7% during the fourth quarter. Dana Investment Advisors Inc. now owns 342,796 shares of the company’s stock valued at $6,280,000 after purchasing an additional 48,987 shares during the period. Ieq Capital LLC purchased a new stake in SpartanNash in the fourth quarter worth about $231,000. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of SpartanNash in the fourth quarter worth about $948,000. 84.59% of the stock is currently 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.