SpartanNash (NASDAQ:SPTN) Hits New 52-Week Low – Time to Sell?

SpartanNash (NASDAQ:SPTN) shares reached a new 52-week low during trading on Wednesday . The company traded as low as $17.71 and last traded at $17.86, with a volume of 61937 shares changing hands. The stock had previously closed at $18.02.

Analyst Ratings Changes

Separately, StockNews.com cut shares of SpartanNash from a “buy” rating to a “hold” rating in a research note on Friday, November 8th.

SpartanNash Price Performance

The firm has a market cap of $608.27 million, a price-to-earnings ratio of 13.55 and a beta of 0.35. The company has a quick ratio of 0.83, a current ratio of 1.62 and a debt-to-equity ratio of 0.80. The firm has a fifty day moving average price of $19.09 and a 200-day moving average price of $20.14.

SpartanNash (NASDAQ:SPTN) last posted its quarterly earnings data on Thursday, November 7th. The company reported $0.48 EPS for the quarter, beating analysts’ consensus estimates of $0.47 by $0.01. SpartanNash had a net margin of 0.48% and a return on equity of 8.57%. The company had revenue of $2.25 billion during the quarter, compared to the consensus estimate of $2.24 billion. During the same quarter in the prior year, the company posted $0.54 EPS. The company’s quarterly revenue was down .6% compared to the same quarter last year. As a group, sell-side analysts forecast that SpartanNash will post 1.88 EPS for the current year.

SpartanNash Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 30th. Shareholders of record on Monday, December 9th were paid a dividend of $0.2175 per share. This represents a $0.87 dividend on an annualized basis and a dividend yield of 4.83%. The ex-dividend date was Monday, December 9th. SpartanNash’s dividend payout ratio is presently 65.41%.

Institutional Trading of SpartanNash

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

About SpartanNash

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.