Principal Financial Group Inc. Sells 703 Shares of SpartanNash (NASDAQ:SPTN)

Principal Financial Group Inc. trimmed its position in shares of SpartanNash (NASDAQ:SPTNFree Report) by 0.4% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 179,744 shares of the company’s stock after selling 703 shares during the quarter. Principal Financial Group Inc. owned about 0.52% of SpartanNash worth $3,633,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Allianz Asset Management GmbH lifted its holdings in shares of SpartanNash by 29.6% during the fourth quarter. Allianz Asset Management GmbH now owns 183,172 shares of the company’s stock valued at $4,204,000 after purchasing an additional 41,832 shares in the last quarter. Phocas Financial Corp. boosted its holdings in shares of SpartanNash by 162.4% during the 4th quarter. Phocas Financial Corp. now owns 241,986 shares of the company’s stock valued at $5,554,000 after acquiring an additional 149,750 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of SpartanNash by 0.9% in the third quarter. Vanguard Group Inc. now owns 2,978,527 shares of the company’s stock worth $65,528,000 after acquiring an additional 27,667 shares during the period. Jacobs Levy Equity Management Inc. grew its stake in shares of SpartanNash by 348.8% in the third quarter. Jacobs Levy Equity Management Inc. now owns 224,350 shares of the company’s stock worth $4,936,000 after acquiring an additional 174,366 shares during the period. Finally, Assenagon Asset Management S.A. lifted its position in SpartanNash by 89.2% during the fourth quarter. Assenagon Asset Management S.A. now owns 446,278 shares of the company’s stock valued at $10,242,000 after purchasing an additional 210,454 shares during the period. Hedge funds and other institutional investors own 84.59% of the company’s stock.

SpartanNash Trading Down 0.3 %

Shares of NASDAQ:SPTN opened at $18.00 on Friday. The stock’s 50-day simple moving average is $19.48 and its two-hundred day simple moving average is $20.61. The stock has a market capitalization of $610.02 million, a price-to-earnings ratio of 11.61 and a beta of 0.41. SpartanNash has a 52-week low of $17.74 and a 52-week high of $24.51. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.84 and a current ratio of 1.75.

SpartanNash (NASDAQ:SPTNGet Free Report) last issued its quarterly earnings data on Thursday, May 30th. The company reported $0.53 earnings per share for the quarter, topping the consensus estimate of $0.52 by $0.01. The firm had revenue of $2.81 billion for the quarter, compared to analysts’ expectations of $2.86 billion. SpartanNash had a net margin of 0.56% and a return on equity of 9.22%. The business’s quarterly revenue was down 3.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.64 EPS. Analysts expect that SpartanNash will post 1.96 EPS for the current year.

SpartanNash Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 14th were issued a dividend of $0.218 per share. This represents a $0.87 annualized dividend and a yield of 4.84%. The ex-dividend date of this dividend was Friday, June 14th. This is a positive change from SpartanNash’s previous quarterly dividend of $0.22. SpartanNash’s payout ratio is currently 56.13%.

Analyst Upgrades and Downgrades

Separately, BMO Capital Markets cut their target price on shares of SpartanNash from $22.00 to $20.00 and set a “market perform” rating for the company in a research report on Friday, May 31st.

Get Our Latest Stock Report on SpartanNash

About SpartanNash

(Free Report)

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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Institutional Ownership by Quarter for SpartanNash (NASDAQ:SPTN)

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