Investors Research Corp Sells 35,870 Shares of SpartanNash Company $SPTN

Investors Research Corp trimmed its position in shares of SpartanNash Company (NASDAQ:SPTN) by 84.5% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,585 shares of the company’s stock after selling 35,870 shares during the period. Investors Research Corp’s holdings in SpartanNash were worth $174,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in SPTN. Universal Beteiligungs und Servicegesellschaft mbH boosted its position in shares of SpartanNash by 0.6% during the 1st quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 104,853 shares of the company’s stock worth $2,124,000 after acquiring an additional 600 shares in the last quarter. GAMMA Investing LLC lifted its stake in SpartanNash by 8.5% during the first quarter. GAMMA Investing LLC now owns 8,097 shares of the company’s stock worth $164,000 after purchasing an additional 636 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of SpartanNash by 4.0% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,198 shares of the company’s stock valued at $352,000 after purchasing an additional 732 shares in the last quarter. SummerHaven Investment Management LLC increased its stake in shares of SpartanNash by 1.9% in the 1st quarter. SummerHaven Investment Management LLC now owns 42,807 shares of the company’s stock valued at $867,000 after purchasing an additional 789 shares during the last quarter. Finally, Graham Capital Management L.P. increased its stake in shares of SpartanNash by 6.8% in the 1st quarter. Graham Capital Management L.P. now owns 28,581 shares of the company’s stock valued at $579,000 after purchasing an additional 1,817 shares during the last quarter. 84.59% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

SPTN has been the subject of several recent analyst reports. Zacks Research upgraded SpartanNash from a “strong sell” rating to a “hold” rating in a research report on Monday, August 18th. Wall Street Zen downgraded SpartanNash from a “buy” rating to a “hold” rating in a research note on Friday, May 30th. Finally, BMO Capital Markets reaffirmed a “market perform” rating and set a $26.90 price target (up from $20.00) on shares of SpartanNash in a report on Tuesday, June 24th. Three equities research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $18.45.

SpartanNash Stock Performance

Shares of SPTN stock opened at $26.48 on Friday. The firm has a market capitalization of $896.61 million, a price-to-earnings ratio of -55.17 and a beta of 0.50. The company has a current ratio of 1.57, a quick ratio of 0.80 and a debt-to-equity ratio of 0.96. The business’s 50-day moving average price is $26.61 and its 200-day moving average price is $22.44. SpartanNash Company has a 12 month low of $17.30 and a 12 month high of $26.89.

SpartanNash (NASDAQ:SPTN) last released its quarterly earnings data on Thursday, August 14th. The company reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate 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 company had revenue of $2.27 billion during the quarter, compared to the consensus estimate of $2.29 billion. During the same quarter in the prior year, the firm posted $0.59 earnings per share. The firm’s revenue was up 1.8% compared to the same quarter last year. Equities research analysts forecast that SpartanNash Company will post 1.79 EPS for the current year.

SpartanNash Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th will be issued 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 is Monday, September 15th. SpartanNash’s payout ratio is -183.33%.

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.