SpartanNash (NASDAQ:SPTN) Shares Sold by HighTower Advisors LLC

HighTower Advisors LLC lessened its stake in SpartanNash (NASDAQ:SPTN) by 12.3% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 17,262 shares of the company’s stock after selling 2,419 shares during the quarter. HighTower Advisors LLC’s holdings in SpartanNash were worth $394,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. American Century Companies Inc. raised its position in shares of SpartanNash by 20.0% during the 2nd quarter. American Century Companies Inc. now owns 744,282 shares of the company’s stock worth $13,963,000 after purchasing an additional 123,952 shares during the last quarter. Dana Investment Advisors Inc. raised its holdings in shares of SpartanNash by 14.5% during the second quarter. Dana Investment Advisors Inc. now owns 328,357 shares of the company’s stock valued at $6,160,000 after acquiring an additional 41,619 shares during the last quarter. Ellsworth Advisors LLC lifted its position in shares of SpartanNash by 0.8% in the third quarter. Ellsworth Advisors LLC now owns 223,742 shares of the company’s stock valued at $5,014,000 after acquiring an additional 1,803 shares in the last quarter. AQR Capital Management LLC boosted its stake in shares of SpartanNash by 17.8% in the second quarter. AQR Capital Management LLC now owns 197,551 shares of the company’s stock worth $3,706,000 after acquiring an additional 29,849 shares during the last quarter. Finally, Foundry Partners LLC increased its position in shares of SpartanNash by 16.5% during the third quarter. Foundry Partners LLC now owns 186,680 shares of the company’s stock worth $4,183,000 after purchasing an additional 26,375 shares in the last quarter. 84.59% of the stock is owned by hedge funds and other institutional investors.

SpartanNash Stock Performance

NASDAQ SPTN opened at $19.40 on Monday. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.62 and a quick ratio of 0.83. The company has a market cap of $654.85 million, a P/E ratio of 14.59 and a beta of 0.35. The stock has a 50-day moving average of $19.90 and a two-hundred day moving average of $20.21. SpartanNash has a 1-year low of $17.74 and a 1-year high of $24.51.

SpartanNash (NASDAQ:SPTN) last posted its quarterly earnings results on Thursday, November 7th. The company reported $0.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.47 by $0.01. SpartanNash had a return on equity of 8.57% and a net margin of 0.48%. The company had revenue of $2.25 billion for the quarter, compared to analyst estimates of $2.24 billion. During the same quarter last year, the company earned $0.54 EPS. SpartanNash’s revenue for the quarter was down .6% compared to the same quarter last year. As a group, analysts anticipate that SpartanNash will post 1.88 EPS for the current year.

SpartanNash Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Monday, December 9th will be given a $0.2175 dividend. The ex-dividend date of this dividend is Monday, December 9th. This represents a $0.87 dividend on an annualized basis and a yield of 4.48%. SpartanNash’s dividend payout ratio (DPR) is presently 65.41%.

Analyst Upgrades and Downgrades

Separately, StockNews.com lowered shares of SpartanNash from a “buy” rating to a “hold” rating in a research report on Friday, November 8th.

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.