US Bancorp DE Sells 110 Shares of SpartanNash Company (SPTN)
US Bancorp DE reduced its position in SpartanNash Company (NASDAQ:SPTN) by 2.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,430 shares of the company’s stock after selling 110 shares during the period. US Bancorp DE’s holdings in SpartanNash were worth $141,000 as of its most recent filing with the SEC.
A number of other hedge funds have also recently added to or reduced their stakes in SPTN. State of Alaska Department of Revenue increased its stake in SpartanNash by 2.0% in the first quarter. State of Alaska Department of Revenue now owns 4,140 shares of the company’s stock worth $144,000 after buying an additional 80 shares during the last quarter. Huntington National Bank increased its stake in shares of SpartanNash by 3.8% in the first quarter. Huntington National Bank now owns 3,254 shares of the company’s stock valued at $114,000 after buying an additional 120 shares during the last quarter. Alpha Windward LLC increased its stake in shares of SpartanNash by 1.4% in the second quarter. Alpha Windward LLC now owns 12,600 shares of the company’s stock valued at $327,000 after buying an additional 180 shares during the last quarter. Louisiana State Employees Retirement System increased its stake in shares of SpartanNash by 1.3% in the first quarter. Louisiana State Employees Retirement System now owns 15,260 shares of the company’s stock valued at $534,000 after buying an additional 200 shares during the last quarter. Finally, Assetmark Inc. increased its stake in shares of SpartanNash by 3.5% in the first quarter. Assetmark Inc. now owns 6,603 shares of the company’s stock valued at $231,000 after buying an additional 223 shares during the last quarter. Institutional investors own 88.24% of the company’s stock.
Shares of SpartanNash Company (NASDAQ SPTN) traded down 0.54% during mid-day trading on Tuesday, reaching $23.88. The company’s stock had a trading volume of 29,983 shares. The company has a 50-day moving average price of $26.22 and a 200 day moving average price of $31.67. SpartanNash Company has a 52-week low of $23.70 and a 52-week high of $40.38. The company has a market cap of $890.01 million, a PE ratio of 13.70 and a beta of 1.00.
SpartanNash (NASDAQ:SPTN) last released its quarterly earnings data on Wednesday, August 16th. The company reported $0.60 EPS for the quarter, meeting analysts’ consensus estimates of $0.60. SpartanNash had a return on equity of 10.00% and a net margin of 0.83%. The firm had revenue of $1.89 billion for the quarter, compared to analysts’ expectations of $1.96 billion. During the same period in the prior year, the firm posted $0.58 earnings per share. The firm’s quarterly revenue was up 3.7% on a year-over-year basis. Equities analysts expect that SpartanNash Company will post $2.23 earnings per share for the current year.
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Several analysts have weighed in on SPTN shares. Pivotal Research downgraded SpartanNash from a “hold” rating to a “sell” rating and lowered their price objective for the company from $35.00 to $20.00 in a research report on Monday, June 26th. Jefferies Group LLC reiterated a “hold” rating and issued a $30.00 price objective (down previously from $35.00) on shares of SpartanNash in a research report on Friday, June 23rd. ValuEngine upgraded SpartanNash from a “hold” rating to a “buy” rating in a research report on Monday, July 17th. Zacks Investment Research upgraded SpartanNash from a “sell” rating to a “hold” rating in a research report on Thursday, July 27th. Finally, BidaskClub downgraded SpartanNash from a “hold” rating to a “sell” rating in a research report on Monday, June 19th. Three investment analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $28.40.
In related news, Director M Shan Atkins sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, June 19th. The stock was sold at an average price of $27.69, for a total value of $55,380.00. Following the transaction, the director now directly owns 32,425 shares in the company, valued at $897,848.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 3.00% of the company’s stock.
SpartanNash Company is a multi-regional grocery distributor and grocery retailer. The Company’s core businesses include distributing grocery products to independent grocery retailers (independent retailers), select national retailers, its corporate owned retail stores, and the United States military commissaries.
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