Charles Schwab Investment Management Inc. Sells 59,970 Shares of SpartanNash (NASDAQ:SPTN)

Charles Schwab Investment Management Inc. lessened its stake in shares of SpartanNash (NASDAQ:SPTN) by 14.3% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 360,661 shares of the company’s stock after selling 59,970 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in SpartanNash were worth $6,607,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Nisa Investment Advisors LLC boosted its stake in shares of SpartanNash by 3,585.1% in the fourth quarter. Nisa Investment Advisors LLC now owns 1,732 shares of the company’s stock valued at $32,000 after buying an additional 1,685 shares during the period. GAMMA Investing LLC grew its holdings in shares of SpartanNash by 90.3% during the fourth quarter. GAMMA Investing LLC now owns 7,461 shares of the company’s stock worth $137,000 after purchasing an additional 3,541 shares during the last quarter. Franklin Resources Inc. acquired a new position in SpartanNash in the 3rd quarter valued at approximately $211,000. Ieq Capital LLC acquired a new position in SpartanNash during the 4th quarter worth about $231,000. Finally, MBM Wealth Consultants LLC lifted its stake in shares of SpartanNash by 10.1% in the fourth quarter. MBM Wealth Consultants LLC now owns 13,083 shares of the company’s stock worth $238,000 after acquiring an additional 1,203 shares during the period. Institutional investors and hedge funds own 84.59% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on SPTN. StockNews.com raised SpartanNash from a “hold” rating to a “buy” rating in a research note on Tuesday, March 18th. Northcoast Research cut SpartanNash from a “buy” rating to a “neutral” rating and set a $10.00 price objective on the stock. in a research note on Wednesday, February 19th.

SpartanNash Stock Performance

NASDAQ SPTN opened at $19.55 on Tuesday. SpartanNash has a 52-week low of $17.30 and a 52-week high of $23.00. The company has a 50-day simple moving average of $19.29 and a 200 day simple moving average of $19.82. The company has a market capitalization of $660.11 million, a PE ratio of -1,955.00 and a beta of 0.34. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.78 and a current ratio of 1.57.

SpartanNash (NASDAQ:SPTN) last announced its quarterly earnings data on Wednesday, February 12th. The company reported $0.42 earnings per share for the quarter, topping the consensus estimate of $0.33 by $0.09. During the same period in the previous year, the business posted $0.35 earnings per share. On average, research analysts predict that SpartanNash will post 1.79 EPS for the current year.

SpartanNash Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Friday, March 21st will be given a dividend of $0.22 per share. The ex-dividend date of this dividend is Friday, March 21st. This is a boost from SpartanNash’s previous quarterly dividend of $0.22. This represents a $0.88 annualized dividend and a dividend yield of 4.50%. SpartanNash’s dividend payout ratio is currently -8,800.00%.

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.