Investors Research Corp decreased its holdings in shares of SpartanNash (NASDAQ:SPTN) by 1.9% during the 1st quarter, Holdings Channel.com reports. The firm owned 48,255 shares of the company’s stock after selling 925 shares during the period. Investors Research Corp’s holdings in SpartanNash were worth $947,000 at the end of the most recent quarter.
Other hedge funds have also bought and sold shares of the company. Veriti Management LLC purchased a new position in SpartanNash in the fourth quarter valued at about $32,000. Lazard Asset Management LLC grew its stake in SpartanNash by 485.1% in the fourth quarter. Lazard Asset Management LLC now owns 2,674 shares of the company’s stock worth $46,000 after purchasing an additional 2,217 shares in the last quarter. Vantage Consulting Group Inc acquired a new position in SpartanNash in the fourth quarter worth about $49,000. Navellier & Associates Inc acquired a new position in SpartanNash in the fourth quarter worth about $193,000. Finally, Janney Montgomery Scott LLC grew its stake in SpartanNash by 35.0% in the fourth quarter. Janney Montgomery Scott LLC now owns 13,551 shares of the company’s stock worth $236,000 after purchasing an additional 3,515 shares in the last quarter. Institutional investors and hedge funds own 83.88% of the company’s stock.
A number of brokerages have commented on SPTN. Barclays downgraded SpartanNash from an “equal weight” rating to an “underweight” rating and set a $18.00 target price for the company. in a research note on Thursday, January 7th. Jefferies Financial Group reissued a “hold” rating and set a $18.00 target price on shares of SpartanNash in a report on Monday, March 15th. Finally, Zacks Investment Research cut SpartanNash from a “hold” rating to a “strong sell” rating in a report on Tuesday, March 9th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $20.17.
SpartanNash (NASDAQ:SPTN) last announced its quarterly earnings data on Tuesday, February 23rd. The company reported $0.43 EPS for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.03). The firm had revenue of $2.25 billion during the quarter, compared to the consensus estimate of $2.22 billion. SpartanNash had a net margin of 0.76% and a return on equity of 11.92%. Equities research analysts anticipate that SpartanNash will post 2.56 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, March 31st. Stockholders of record on Monday, March 15th were given a $0.20 dividend. The ex-dividend date was Friday, March 12th. This is a boost from SpartanNash’s previous quarterly dividend of $0.19. This represents a $0.80 annualized dividend and a dividend yield of 4.05%. SpartanNash’s payout ratio is presently 72.73%.
SpartanNash Company Profile
SpartanNash Company distributes and retails grocery products. It operates in three segments: Food Distribution, Military, and Retail. The Food Distribution segment offers approximately 68,000 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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