Principal Financial Group Inc. Has $3.41 Million Stake in SpartanNash Company (NASDAQ:SPTN)

Principal Financial Group Inc. boosted its position in SpartanNash Company (NASDAQ:SPTN) by 2.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 168,064 shares of the company’s stock after acquiring an additional 4,391 shares during the quarter. Principal Financial Group Inc. owned 0.50% of SpartanNash worth $3,405,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. State of Wyoming acquired a new position in shares of SpartanNash during the fourth quarter worth $43,000. Tower Research Capital LLC TRC raised its holdings in shares of SpartanNash by 167.4% during the fourth quarter. Tower Research Capital LLC TRC now owns 5,966 shares of the company’s stock valued at $109,000 after purchasing an additional 3,735 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main acquired a new position in shares of SpartanNash during the fourth quarter valued at about $113,000. KLP Kapitalforvaltning AS bought a new stake in shares of SpartanNash during the fourth quarter worth about $132,000. Finally, GAMMA Investing LLC increased its stake in SpartanNash by 8.5% in the 1st quarter. GAMMA Investing LLC now owns 8,097 shares of the company’s stock valued at $164,000 after buying an additional 636 shares during the last quarter. Institutional investors own 84.59% of the company’s stock.

SpartanNash Price Performance

Shares of SpartanNash stock opened at $26.56 on Friday. The firm has a market cap of $899.06 million, a PE ratio of -83.00 and a beta of 0.44. SpartanNash Company has a 12-month low of $17.30 and a 12-month high of $26.69. The company has a quick ratio of 0.86, a current ratio of 1.66 and a debt-to-equity ratio of 1.03. The company’s fifty day simple moving average is $21.63 and its two-hundred day simple moving average is $20.11.

SpartanNash (NASDAQ:SPTN) last announced its earnings results on Thursday, May 29th. The company reported $0.35 earnings per share for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.08). The business had revenue of $2.91 billion for the quarter, compared to the consensus estimate of $2.87 billion. SpartanNash had a negative net margin of 0.11% and a positive return on equity of 8.26%. SpartanNash’s revenue for the quarter was up 3.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.53 EPS. As a group, equities analysts expect that SpartanNash Company will post 1.79 EPS for the current year.

SpartanNash Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, June 13th were issued a dividend of $0.22 per share. The ex-dividend date of this dividend was Friday, June 13th. This represents a $0.88 annualized dividend and a dividend yield of 3.31%. SpartanNash’s payout ratio is -275.00%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on SPTN shares. Wall Street Zen downgraded shares of SpartanNash from a “buy” rating to a “hold” rating in a research report on Friday, May 30th. BMO Capital Markets reiterated a “market perform” rating and issued a $26.90 target price (up from $20.00) on shares of SpartanNash in a research note on Tuesday, June 24th.

About SpartanNash

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.