Exchange Traded Concepts LLC Buys 1,415 Shares of SpartanNash (NASDAQ:SPTN)

Exchange Traded Concepts LLC lifted its stake in shares of SpartanNash (NASDAQ:SPTN) by 1.9% in the third quarter, Holdings Channel.com reports. The fund owned 77,110 shares of the company’s stock after acquiring an additional 1,415 shares during the quarter. Exchange Traded Concepts LLC’s holdings in SpartanNash were worth $1,728,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. SummerHaven Investment Management LLC increased its holdings in SpartanNash by 2.2% in the second quarter. SummerHaven Investment Management LLC now owns 34,421 shares of the company’s stock worth $646,000 after purchasing an additional 752 shares in the last quarter. Illinois Municipal Retirement Fund increased its holdings in SpartanNash by 5.1% in the first quarter. Illinois Municipal Retirement Fund now owns 20,671 shares of the company’s stock worth $418,000 after purchasing an additional 1,007 shares in the last quarter. Inspire Investing LLC increased its holdings in SpartanNash by 6.1% in the second quarter. Inspire Investing LLC now owns 18,792 shares of the company’s stock worth $353,000 after purchasing an additional 1,082 shares in the last quarter. Commonwealth Equity Services LLC increased its holdings in SpartanNash by 3.9% in the first quarter. Commonwealth Equity Services LLC now owns 33,323 shares of the company’s stock worth $673,000 after purchasing an additional 1,241 shares in the last quarter. Finally, GAMMA Investing LLC increased its holdings in shares of SpartanNash by 114.4% during the second quarter. GAMMA Investing LLC now owns 2,380 shares of the company’s stock valued at $45,000 after acquiring an additional 1,270 shares in the last quarter. 84.59% of the stock is currently owned by institutional investors.

SpartanNash Stock Up 3.2 %

Shares of NASDAQ:SPTN opened at $22.17 on Wednesday. The stock has a market cap of $751.39 million, a price-to-earnings ratio of 14.30 and a beta of 0.39. The company has a quick ratio of 0.80, a current ratio of 1.62 and a debt-to-equity ratio of 0.76. SpartanNash has a 12-month low of $17.74 and a 12-month high of $24.51. The business’s 50 day moving average is $21.41 and its 200 day moving average is $20.17.

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

SpartanNash Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 4th. Shareholders of record on Monday, September 23rd were given a $0.218 dividend. The ex-dividend date was Monday, September 23rd. This represents a $0.87 annualized dividend and a yield of 3.93%. SpartanNash’s dividend payout ratio is currently 56.13%.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised SpartanNash from a “hold” rating to a “buy” rating in a research report on Wednesday, September 18th.

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.