Truist Financial Corp Purchases 8,253 Shares of SpartanNash (NASDAQ:SPTN)

Truist Financial Corp grew its position in shares of SpartanNash (NASDAQ:SPTN) by 44.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 26,694 shares of the company’s stock after acquiring an additional 8,253 shares during the period. Truist Financial Corp owned about 0.08% of SpartanNash worth $501,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Larson Financial Group LLC bought a new position in shares of SpartanNash during the first quarter valued at about $30,000. nVerses Capital LLC bought a new position in shares of SpartanNash during the second quarter valued at about $30,000. Canada Pension Plan Investment Board bought a new position in shares of SpartanNash during the second quarter valued at about $34,000. Blue Trust Inc. raised its stake in shares of SpartanNash by 5,317.6% during the second quarter. Blue Trust Inc. now owns 1,842 shares of the company’s stock valued at $37,000 after acquiring an additional 1,808 shares during the last quarter. Finally, GAMMA Investing LLC raised its stake 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 during the last quarter. 84.59% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

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

SpartanNash Price Performance

SPTN stock opened at $22.24 on Thursday. SpartanNash has a 1 year low of $17.74 and a 1 year high of $24.51. The company has a market cap of $753.76 million, a P/E ratio of 14.35 and a beta of 0.39. The firm has a 50-day moving average of $21.46 and a 200 day moving average of $20.19. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.62 and a quick ratio of 0.80.

SpartanNash (NASDAQ:SPTN) last released its quarterly earnings results on Thursday, August 15th. The company reported $0.59 earnings per share (EPS) for the quarter, topping 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 company had revenue of $2.23 billion during the quarter, compared to the consensus estimate of $2.27 billion. During the same period in the prior year, the firm earned $0.65 earnings per share. SpartanNash’s revenue was down 3.5% on a year-over-year basis. On average, sell-side analysts forecast that SpartanNash will post 1.98 EPS for the current 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 issued a $0.218 dividend. This represents a $0.87 dividend on an annualized basis and a yield of 3.92%. The ex-dividend date was Monday, September 23rd. SpartanNash’s dividend payout ratio (DPR) is presently 56.13%.

About SpartanNash

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.