SpartanNash (NASDAQ:SPTN) to Issue Quarterly Dividend of $0.22

SpartanNash (NASDAQ:SPTN) declared a quarterly dividend on Wednesday, September 11th, Zacks reports. Shareholders of record on Monday, September 23rd will be paid a dividend of 0.218 per share on Friday, October 4th. This represents a $0.87 dividend on an annualized basis and a yield of 3.96%. The ex-dividend date is Monday, September 23rd.

SpartanNash has raised its dividend by an average of 3.8% annually over the last three years and has increased its dividend every year for the last 14 years. SpartanNash has a payout ratio of 41.6% indicating that its dividend is sufficiently covered by earnings. Analysts expect SpartanNash to earn $2.15 per share next year, which means the company should continue to be able to cover its $0.87 annual dividend with an expected future payout ratio of 40.5%.

SpartanNash Trading Up 2.4 %

Shares of SpartanNash stock traded up $0.51 on Friday, reaching $22.03. 141,525 shares of the company were exchanged, compared to its average volume of 249,478. The stock has a fifty day moving average price of $20.48 and a 200-day moving average price of $19.94. The firm has a market capitalization of $743.29 million, a price-to-earnings ratio of 14.17 and a beta of 0.39. The company has a current ratio of 1.62, a quick ratio of 0.80 and a debt-to-equity ratio of 0.76. SpartanNash has a fifty-two week low of $17.74 and a fifty-two week high of $24.51.

SpartanNash (NASDAQ:SPTN) last posted its quarterly earnings results on Thursday, August 15th. The company reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.56 by $0.03. The firm had revenue of $2.23 billion for the quarter, compared to analyst estimates of $2.27 billion. SpartanNash had a return on equity of 8.87% and a net margin of 0.48%. SpartanNash’s quarterly revenue was down 3.5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.65 earnings per share. On average, analysts expect that SpartanNash will post 1.98 EPS for the current year.

Analysts Set New Price Targets

Several research analysts recently weighed in on SPTN shares. StockNews.com raised SpartanNash from a “hold” rating to a “buy” rating in a research report on Wednesday, September 4th. BMO Capital Markets lowered their target price on SpartanNash from $22.00 to $20.00 and set a “market perform” rating on the stock in a research note on Friday, May 31st.

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.