State Board of Administration of Florida Retirement System Sells 1,961 Shares of SpartanNash (NASDAQ:SPTN)

State Board of Administration of Florida Retirement System reduced its stake in SpartanNash (NASDAQ:SPTNGet Rating) by 6.1% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 30,115 shares of the company’s stock after selling 1,961 shares during the quarter. State Board of Administration of Florida Retirement System owned about 0.08% of SpartanNash worth $909,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the company. Total Clarity Wealth Management Inc. purchased a new stake in shares of SpartanNash in the 2nd quarter worth $72,000. MBM Wealth Consultants LLC increased its position in shares of SpartanNash by 30.6% during the first quarter. MBM Wealth Consultants LLC now owns 2,670 shares of the company’s stock worth $88,000 after acquiring an additional 625 shares during the period. KBC Group NV bought a new position in shares of SpartanNash during the second quarter valued at approximately $93,000. Point72 Hong Kong Ltd bought a new position in shares of SpartanNash during the first quarter valued at approximately $100,000. Finally, Counterpoint Mutual Funds LLC acquired a new stake in SpartanNash in the second quarter valued at approximately $126,000. 87.71% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

SPTN has been the subject of several recent research reports. BMO Capital Markets raised their target price on shares of SpartanNash from $29.00 to $31.00 and gave the stock a “market perform” rating in a report on Friday, August 19th. StockNews.com lowered shares of SpartanNash from a “buy” rating to a “hold” rating in a report on Monday. Finally, Deutsche Bank Aktiengesellschaft cut their target price on shares of SpartanNash from $36.00 to $35.00 and set a “hold” rating on the stock in a research note on Monday.

Insider Buying and Selling

In other news, Director Hawthorne L. Proctor sold 4,500 shares of the business’s stock in a transaction on Tuesday, August 23rd. The shares were sold at an average price of $31.27, for a total transaction of $140,715.00. Following the completion of the transaction, the director now owns 30,708 shares of the company’s stock, valued at $960,239.16. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 1.80% of the company’s stock.

SpartanNash Price Performance

SpartanNash stock opened at $31.67 on Friday. SpartanNash has a 12-month low of $23.74 and a 12-month high of $37.75. The stock has a market capitalization of $1.12 billion, a P/E ratio of 20.43 and a beta of 0.75. The firm’s 50-day moving average is $32.06 and its two-hundred day moving average is $31.96. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.63 and a quick ratio of 0.74.

SpartanNash (NASDAQ:SPTNGet Rating) last released its quarterly earnings results on Thursday, August 18th. The company reported $0.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.08. SpartanNash had a net margin of 0.60% and a return on equity of 10.26%. The company had revenue of $2.27 billion for the quarter, compared to analysts’ expectations of $2.13 billion. During the same period last year, the company earned $0.54 EPS. The firm’s revenue for the quarter was up 7.9% compared to the same quarter last year. Equities analysts predict that SpartanNash will post 2.36 earnings per share for the current year.

SpartanNash Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 30th. Investors of record on Thursday, September 15th were paid a $0.21 dividend. The ex-dividend date was Wednesday, September 14th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.65%. SpartanNash’s dividend payout ratio (DPR) is presently 54.19%.

SpartanNash Company Profile

(Get Rating)

SpartanNash Company distributes and retails grocery products. It operates in three segments: Food Distribution, Military, and Retail. The Food Distribution segment offers approximately 65,000 stock-keeping units, such as 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 pharmacy products to independent retailers, national retailers, food service distributors, e-commerce providers, and corporate owned retail stores.

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Institutional Ownership by Quarter for SpartanNash (NASDAQ:SPTN)

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