GAMMA Investing LLC Raises Stock Position in SpartanNash (NASDAQ:SPTN)

GAMMA Investing LLC increased its position in shares of SpartanNash (NASDAQ:SPTN) by 2,098.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 164,045 shares of the company’s stock after acquiring an additional 156,584 shares during the quarter. GAMMA Investing LLC owned about 0.48% of SpartanNash worth $3,324,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of SPTN. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of SpartanNash during the fourth quarter worth $1,910,000. Mackenzie Financial Corp grew its stake in SpartanNash by 151.1% during the 4th quarter. Mackenzie Financial Corp now owns 35,518 shares of the company’s stock worth $651,000 after buying an additional 21,371 shares during the last quarter. US Asset Management LLC acquired a new position in SpartanNash during the 4th quarter valued at about $190,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in SpartanNash by 40.1% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 77,650 shares of the company’s stock valued at $1,423,000 after buying an additional 22,223 shares in the last quarter. Finally, Sovereign s Capital Management LLC purchased a new stake in SpartanNash in the fourth quarter valued at about $461,000. Hedge funds and other institutional investors own 84.59% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on SPTN. Northcoast Research lowered SpartanNash from a “buy” rating to a “neutral” rating and set a $10.00 price target on the stock. in a research note on Wednesday, February 19th. Wall Street Zen downgraded shares of SpartanNash from a “buy” rating to a “hold” rating in a research report on Friday, May 30th.

SpartanNash Price Performance

Shares of SPTN opened at $18.09 on Thursday. The firm has a market capitalization of $612.35 million, a PE ratio of -1,809.00 and a beta of 0.34. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.57 and a quick ratio of 0.78. SpartanNash has a 1-year low of $17.30 and a 1-year high of $23.00. The company’s fifty day moving average price is $19.42 and its 200-day moving average price is $19.24.

SpartanNash (NASDAQ:SPTN) last issued its earnings results on Thursday, May 29th. The company reported $0.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.08). The company had revenue of $2.91 billion during the quarter, compared to the consensus estimate of $2.87 billion. SpartanNash’s revenue was up 3.7% compared to the same quarter last year. During the same period last year, the business earned $0.53 EPS. On average, equities research analysts predict that SpartanNash will post 1.79 EPS for the current year.

SpartanNash Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 13th will be issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 4.86%. The ex-dividend date is Friday, June 13th. SpartanNash’s dividend payout ratio (DPR) is -275.00%.

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.