SpartanNash Co (NASDAQ:SPTN) reached a new 52-week low during mid-day trading on Monday after the company announced weaker than expected quarterly earnings. The company traded as low as $13.59 and last traded at $13.63, with a volume of 2983 shares. The stock had previously closed at $14.91.

The company reported $0.24 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.23 by $0.01. SpartanNash had a return on equity of 9.31% and a net margin of 0.42%. The firm had revenue of $2.54 billion during the quarter, compared to analyst estimates of $2.51 billion. During the same quarter in the previous year, the company posted $0.55 earnings per share. The company’s revenue was up 6.6% compared to the same quarter last year.

Several equities research analysts have issued reports on SPTN shares. BidaskClub raised SpartanNash from a “buy” rating to a “strong-buy” rating in a research note on Friday, February 15th. ValuEngine downgraded SpartanNash from a “sell” rating to a “strong sell” rating in a report on Friday, February 22nd. Barclays downgraded SpartanNash from an “equal weight” rating to an “underweight” rating in a report on Tuesday, March 12th. Zacks Investment Research downgraded SpartanNash from a “hold” rating to a “sell” rating in a report on Tuesday, May 7th. Finally, Pivotal Research reiterated a “sell” rating and issued a $12.00 price objective (down previously from $14.00) on shares of SpartanNash in a report on Thursday, February 21st. Four analysts have rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company. SpartanNash currently has a consensus rating of “Hold” and a consensus price target of $20.17.

In other news, Director Yvonne R. Jackson sold 1,800 shares of SpartanNash stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $18.33, for a total value of $32,994.00. Following the transaction, the director now owns 33,081 shares in the company, valued at $606,374.73. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Elizabeth A. Nickels sold 4,676 shares of SpartanNash stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $17.45, for a total value of $81,596.20. Following the completion of the transaction, the director now owns 42,493 shares in the company, valued at approximately $741,502.85. The disclosure for this sale can be found here. In the last quarter, insiders sold 11,152 shares of company stock worth $188,845. Company insiders own 2.20% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. increased its holdings in SpartanNash by 77.2% during the 4th quarter. PNC Financial Services Group Inc. now owns 1,588 shares of the company’s stock valued at $27,000 after purchasing an additional 692 shares during the period. FNY Investment Advisers LLC purchased a new position in SpartanNash during the 4th quarter valued at about $37,000. SEI Investments Co purchased a new position in SpartanNash during the 1st quarter valued at about $48,000. Quantamental Technologies LLC purchased a new position in SpartanNash during the 4th quarter valued at about $49,000. Finally, Advisor Group Inc. increased its holdings in SpartanNash by 28.4% during the 4th quarter. Advisor Group Inc. now owns 3,213 shares of the company’s stock valued at $55,000 after purchasing an additional 711 shares during the period. Hedge funds and other institutional investors own 86.87% of the company’s stock.

The firm has a market cap of $536.04 million, a PE ratio of 7.42, a PEG ratio of 1.64 and a beta of 1.19. The company has a quick ratio of 0.94, a current ratio of 2.10 and a debt-to-equity ratio of 0.95.

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About SpartanNash (NASDAQ:SPTN)

SpartanNash Company distributes and retails grocery products. It operates in three segments: Food Distribution, Military, and Retail. The Food Distribution segment offers approximately 60,000 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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