Public Sector Pension Investment Board trimmed its holdings in SpartanNash (NASDAQ:SPTN – Free Report) by 5.7% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 71,571 shares of the company’s stock after selling 4,300 shares during the period. Public Sector Pension Investment Board owned 0.21% of SpartanNash worth $1,604,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds have also recently added to or reduced their stakes in SPTN. nVerses Capital LLC acquired a new stake in shares of SpartanNash in the second quarter valued at approximately $30,000. Canada Pension Plan Investment Board acquired a new position in shares of SpartanNash in the second quarter worth $34,000. Signaturefd LLC lifted its position in shares of SpartanNash by 64.9% in the third quarter. Signaturefd LLC now owns 1,801 shares of the company’s stock valued at $40,000 after acquiring an additional 709 shares in the last quarter. Blue Trust Inc. boosted 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 increased its position in SpartanNash by 114.4% during the 2nd quarter. GAMMA Investing LLC now owns 2,380 shares of the company’s stock worth $45,000 after purchasing an additional 1,270 shares in the last quarter. 84.59% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
Separately, StockNews.com lowered shares of SpartanNash from a “buy” rating to a “hold” rating in a report on Friday, November 8th.
SpartanNash Trading Down 0.2 %
Shares of SpartanNash stock opened at $19.14 on Friday. SpartanNash has a fifty-two week low of $17.74 and a fifty-two week high of $24.51. The business’s fifty day moving average is $20.38 and its two-hundred day moving average is $20.27. The company has a quick ratio of 0.83, a current ratio of 1.62 and a debt-to-equity ratio of 0.80. The firm has a market cap of $646.17 million, a PE ratio of 14.39 and a beta of 0.35.
SpartanNash (NASDAQ:SPTN – Get Free Report) last released its earnings results on Thursday, November 7th. The company reported $0.48 earnings per share for the quarter, topping the consensus estimate of $0.47 by $0.01. SpartanNash had a return on equity of 8.57% and a net margin of 0.48%. The firm had revenue of $2.25 billion for the quarter, compared to the consensus estimate of $2.24 billion. During the same period in the prior year, the business posted $0.54 earnings per share. The firm’s revenue for the quarter was down .6% compared to the same quarter last year. Analysts anticipate that SpartanNash will post 1.88 earnings per share for the current year.
SpartanNash Cuts Dividend
The business also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Monday, December 9th will be paid a dividend of $0.2175 per share. This represents a $0.87 dividend on an annualized basis and a yield of 4.55%. The ex-dividend date of this dividend is Monday, December 9th. SpartanNash’s dividend payout ratio is currently 65.41%.
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.
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