Appleton Partners Inc. MA Purchases New Position in SpartanNash Company $SPTN

Appleton Partners Inc. MA acquired a new position in shares of SpartanNash Company (NASDAQ:SPTN) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 8,000 shares of the company’s stock, valued at approximately $212,000.

Other institutional investors have also modified their holdings of the company. AlphaQuest LLC purchased a new position in shares of SpartanNash in the 1st quarter valued at $153,000. GAMMA Investing LLC boosted its stake in SpartanNash by 8.5% in the first quarter. GAMMA Investing LLC now owns 8,097 shares of the company’s stock valued at $164,000 after acquiring an additional 636 shares in the last quarter. Wealth Enhancement Advisory Services LLC purchased a new position in shares of SpartanNash during the second quarter worth about $251,000. Squarepoint Ops LLC acquired a new stake in shares of SpartanNash during the fourth quarter worth about $204,000. Finally, EntryPoint Capital LLC purchased a new stake in shares of SpartanNash in the 1st quarter valued at about $236,000. Hedge funds and other institutional investors own 84.59% of the company’s stock.

SpartanNash Price Performance

SPTN opened at $26.90 on Tuesday. SpartanNash Company has a 52 week low of $17.30 and a 52 week high of $27.07. The business has a 50 day moving average price of $26.68 and a two-hundred day moving average price of $23.21. The company has a quick ratio of 0.80, a current ratio of 1.57 and a debt-to-equity ratio of 0.96. The company has a market cap of $910.78 million, a PE ratio of -56.04 and a beta of 0.50.

SpartanNash (NASDAQ:SPTN) last released its earnings results on Thursday, August 14th. The company reported $0.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.50 by $0.04. SpartanNash had a positive return on equity of 8.19% and a negative net margin of 0.16%.The business had revenue of $2.27 billion for the quarter, compared to analyst estimates of $2.29 billion. During the same quarter in the previous year, the company posted $0.59 earnings per share. The company’s revenue for the quarter was up 1.8% compared to the same quarter last year. As a group, research analysts anticipate that SpartanNash Company will post 1.79 EPS for the current year.

SpartanNash Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th were paid a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date was Monday, September 15th. SpartanNash’s payout ratio is -183.33%.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on SPTN. BMO Capital Markets restated a “market perform” rating and set a $26.90 price target (up previously from $20.00) on shares of SpartanNash in a research note on Tuesday, June 24th. Zacks Research upgraded shares of SpartanNash from a “strong sell” rating to a “hold” rating in a research report on Monday, August 18th. Three research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $18.45.

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.