MQS Management LLC Invests $353,000 in SpartanNash (NASDAQ:SPTN)

MQS Management LLC purchased a new position in SpartanNash (NASDAQ:SPTN) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 18,802 shares of the company’s stock, valued at approximately $353,000.

Several other institutional investors also recently bought and sold shares of SPTN. Vanguard Group Inc. boosted its stake in SpartanNash by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 3,123,088 shares of the company’s stock valued at $63,118,000 after purchasing an additional 20,262 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of SpartanNash by 0.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,809,909 shares of the company’s stock valued at $64,488,000 after purchasing an additional 11,683 shares in the last quarter. American Century Companies Inc. boosted its position in shares of SpartanNash by 20.0% during the second quarter. American Century Companies Inc. now owns 744,282 shares of the company’s stock valued at $13,963,000 after buying an additional 123,952 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in SpartanNash by 7.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 477,579 shares of the company’s stock worth $10,960,000 after buying an additional 33,550 shares in the last quarter. Finally, ProShare Advisors LLC raised its position in SpartanNash by 7.2% in the 1st quarter. ProShare Advisors LLC now owns 364,537 shares of the company’s stock worth $7,367,000 after buying an additional 24,578 shares during the last quarter. 84.59% of the stock is owned by hedge funds and other institutional investors.

SpartanNash Price Performance

NASDAQ SPTN opened at $21.66 on Friday. The company has a 50-day moving average price of $20.91 and a 200-day moving average price of $19.98. SpartanNash has a 52 week low of $17.74 and a 52 week high of $24.51. The company has a quick ratio of 0.80, a current ratio of 1.62 and a debt-to-equity ratio of 0.76. The firm has a market capitalization of $734.10 million, a P/E ratio of 13.97 and a beta of 0.39.

SpartanNash (NASDAQ:SPTN) last announced its earnings results on Thursday, August 15th. The company reported $0.59 EPS for the quarter, beating analysts’ consensus estimates of $0.56 by $0.03. SpartanNash had a net margin of 0.48% and a return on equity of 8.87%. The business had revenue of $2.23 billion during the quarter, compared to analysts’ expectations of $2.27 billion. During the same period in the prior year, the company earned $0.65 earnings per share. The firm’s revenue was down 3.5% on a year-over-year basis. Equities research analysts anticipate that SpartanNash will post 1.98 earnings per share for the current year.

SpartanNash Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 4th. Investors of record on Monday, September 23rd will be issued a $0.218 dividend. The ex-dividend date of this dividend is Monday, September 23rd. This represents a $0.87 dividend on an annualized basis and a yield of 4.03%. SpartanNash’s dividend payout ratio is currently 56.13%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on SPTN. BMO Capital Markets reduced their price target on shares of SpartanNash from $22.00 to $20.00 and set a “market perform” rating for the company in a research note on Friday, May 31st. StockNews.com raised shares of SpartanNash from a “hold” rating to a “buy” rating in a research report on Wednesday.

SpartanNash 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.