Acadian Asset Management LLC Boosts Stake in SpartanNash (NASDAQ:SPTN)

Acadian Asset Management LLC lifted its stake in SpartanNash (NASDAQ:SPTN) by 223.8% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 320,600 shares of the company’s stock after purchasing an additional 221,585 shares during the period. Acadian Asset Management LLC owned 0.89% of SpartanNash worth $5,242,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. NEXT Financial Group Inc purchased a new stake in SpartanNash in the 3rd quarter worth $31,000. Citizens Financial Group Inc RI purchased a new stake in SpartanNash in the 2nd quarter worth $35,000. Advisor Group Holdings Inc. bought a new position in shares of SpartanNash during the 1st quarter valued at about $45,000. Point72 Hong Kong Ltd boosted its holdings in shares of SpartanNash by 348.6% during the 2nd quarter. Point72 Hong Kong Ltd now owns 2,813 shares of the company’s stock valued at $60,000 after purchasing an additional 2,186 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of SpartanNash by 85.7% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,148 shares of the company’s stock valued at $131,000 after purchasing an additional 2,838 shares during the last quarter. Hedge funds and other institutional investors own 84.92% of the company’s stock.

Shares of NASDAQ:SPTN opened at $18.06 on Friday. The company has a current ratio of 1.56, a quick ratio of 0.75 and a debt-to-equity ratio of 0.78. SpartanNash has a 12 month low of $9.00 and a 12 month high of $23.94. The company has a 50-day moving average price of $19.12 and a 200 day moving average price of $19.46. The company has a market cap of $647.69 million, a price-to-earnings ratio of 13.18 and a beta of 0.98.

SpartanNash (NASDAQ:SPTN) last announced its quarterly earnings results on Monday, November 16th. The company reported $0.70 EPS for the quarter, beating the Zacks’ consensus estimate of $0.62 by $0.08. The firm had revenue of $2.06 billion during the quarter, compared to the consensus estimate of $2.14 billion. SpartanNash had a net margin of 0.54% and a return on equity of 10.02%. The firm’s revenue for the quarter was up 3.1% compared to the same quarter last year. During the same quarter last year, the firm earned $0.30 EPS. As a group, equities analysts forecast that SpartanNash will post 2.52 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 31st. Shareholders of record on Thursday, December 10th will be paid a $0.192 dividend. This represents a $0.77 annualized dividend and a yield of 4.25%. The ex-dividend date is Wednesday, December 9th. SpartanNash’s payout ratio is currently 70.00%.

Several research analysts have commented on SPTN shares. TheStreet raised shares of SpartanNash from a “c” rating to a “b” rating in a report on Wednesday, August 12th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of SpartanNash from $20.00 to $21.00 and gave the company a “hold” rating in a report on Monday, August 17th. BMO Capital Markets reissued a “hold” rating and set a $23.00 price objective on shares of SpartanNash in a report on Friday, August 14th. Wolfe Research started coverage on shares of SpartanNash in a report on Friday, October 9th. They set an “outperform” rating and a $20.00 price objective for the company. Finally, BidaskClub downgraded shares of SpartanNash from a “hold” rating to a “sell” rating in a report on Thursday, September 17th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $20.50.

SpartanNash Profile

SpartanNash Company distributes and retails grocery products. It operates in three segments: Food Distribution, Military, and Retail. The Food Distribution segment offers approximately 52,000 stock-keeping units, such as 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 pharmacy products to independent retailers, national retailers, food service distributors, e-commerce providers, and corporate owned retail stores.

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Institutional Ownership by Quarter for SpartanNash (NASDAQ:SPTN)

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