Lazard Asset Management LLC Makes New Investment in SpartanNash (NASDAQ:SPTN)

Lazard Asset Management LLC acquired a new position in shares of SpartanNash (NASDAQ:SPTNGet Rating) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 2,692 shares of the company’s stock, valued at approximately $81,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Texas Permanent School Fund increased its holdings in SpartanNash by 2.5% during the 2nd quarter. Texas Permanent School Fund now owns 26,126 shares of the company’s stock worth $788,000 after purchasing an additional 643 shares in the last quarter. Los Angeles Capital Management LLC increased its holdings in SpartanNash by 1.7% during the 2nd quarter. Los Angeles Capital Management LLC now owns 19,544 shares of the company’s stock worth $590,000 after purchasing an additional 334 shares in the last quarter. Jackson Creek Investment Advisors LLC bought a new stake in SpartanNash during the 2nd quarter worth approximately $988,000. Janney Montgomery Scott LLC increased its holdings in SpartanNash by 62.0% during the 2nd quarter. Janney Montgomery Scott LLC now owns 31,566 shares of the company’s stock worth $960,000 after purchasing an additional 12,081 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale bought a new stake in SpartanNash during the 2nd quarter worth approximately $537,000. 87.71% of the stock is owned by institutional investors.

SpartanNash Price Performance

Shares of NASDAQ SPTN opened at $32.46 on Thursday. SpartanNash has a twelve month low of $23.74 and a twelve month high of $37.75. The company has a quick ratio of 0.74, a current ratio of 1.63 and a debt-to-equity ratio of 0.66. The stock’s 50 day moving average price is $32.20 and its 200-day moving average price is $31.93. The company has a market capitalization of $1.15 billion, a PE ratio of 20.94 and a beta of 0.75.

SpartanNash Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 30th. Investors of record on Friday, December 9th will be paid a $0.21 dividend. The ex-dividend date is Thursday, December 8th. This represents a $0.84 annualized dividend and a yield of 2.59%. SpartanNash’s payout ratio is 54.19%.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on SPTN. StockNews.com downgraded SpartanNash from a “buy” rating to a “hold” rating in a research note on Monday, November 14th. Deutsche Bank Aktiengesellschaft cut their target price on SpartanNash from $36.00 to $35.00 and set a “hold” rating on the stock in a research note on Monday, November 14th. Finally, BMO Capital Markets boosted their target price on SpartanNash from $29.00 to $31.00 and gave the stock a “market perform” rating in a research note on Friday, August 19th.

SpartanNash 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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