Allspring Global Investments Holdings LLC Purchases 34,384 Shares of SpartanNash (NASDAQ:SPTN)

Allspring Global Investments Holdings LLC increased its position in shares of SpartanNash (NASDAQ:SPTN) by 56.3% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 95,418 shares of the company’s stock after purchasing an additional 34,384 shares during the period. Allspring Global Investments Holdings LLC owned about 0.28% of SpartanNash worth $1,928,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Vanguard Group Inc. increased its holdings in SpartanNash by 0.9% in the 3rd quarter. Vanguard Group Inc. now owns 2,978,527 shares of the company’s stock valued at $65,528,000 after buying an additional 27,667 shares during the period. Dimensional Fund Advisors LP raised its position in SpartanNash by 0.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,809,909 shares of the company’s stock worth $64,488,000 after purchasing an additional 11,683 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in SpartanNash by 7.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 477,579 shares of the company’s stock worth $10,960,000 after purchasing an additional 33,550 shares in the last quarter. Assenagon Asset Management S.A. lifted its stake in SpartanNash by 89.2% during the fourth quarter. Assenagon Asset Management S.A. now owns 446,278 shares of the company’s stock worth $10,242,000 after purchasing an additional 210,454 shares during the period. Finally, Smith Graham & Co. Investment Advisors LP boosted its holdings in SpartanNash by 20.1% during the fourth quarter. Smith Graham & Co. Investment Advisors LP now owns 281,589 shares of the company’s stock valued at $6,462,000 after purchasing an additional 47,072 shares in the last quarter. 84.59% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, BMO Capital Markets cut their target price on SpartanNash from $22.00 to $20.00 and set a “market perform” rating for the company in a research report on Friday, May 31st.

SpartanNash Price Performance

NASDAQ:SPTN opened at $18.24 on Wednesday. The company has a quick ratio of 0.84, a current ratio of 1.75 and a debt-to-equity ratio of 0.78. The firm has a market cap of $618.15 million, a PE ratio of 11.77 and a beta of 0.41. SpartanNash has a 12 month low of $18.17 and a 12 month high of $24.51. The company’s 50-day moving average price is $19.56 and its two-hundred day moving average price is $20.68.

SpartanNash (NASDAQ:SPTN) last announced its earnings results on Thursday, May 30th. The company reported $0.53 EPS for the quarter, topping the consensus estimate of $0.52 by $0.01. SpartanNash had a return on equity of 9.22% and a net margin of 0.56%. The business had revenue of $2.81 billion for the quarter, compared to the consensus estimate of $2.86 billion. During the same period in the previous year, the business earned $0.64 EPS. SpartanNash’s revenue was down 3.6% compared to the same quarter last year. On average, equities analysts anticipate that SpartanNash will post 1.96 EPS for the current fiscal year.

SpartanNash Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 14th were issued a dividend of $0.218 per share. The ex-dividend date was Friday, June 14th. This represents a $0.87 dividend on an annualized basis and a yield of 4.78%. This is a positive change from SpartanNash’s previous quarterly dividend of $0.22. SpartanNash’s dividend payout ratio is currently 56.13%.

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.