Phocas Financial Corp. Grows Stock Holdings in SpartanNash Company (NASDAQ:SPTN)

Phocas Financial Corp. raised its position in SpartanNash Company (NASDAQ:SPTN) by 49.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 324,606 shares of the company’s stock after acquiring an additional 107,125 shares during the quarter. Phocas Financial Corp. owned approximately 0.96% of SpartanNash worth $6,577,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Universal Beteiligungs und Servicegesellschaft mbH increased its stake in shares of SpartanNash by 0.6% in the first quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 104,853 shares of the company’s stock worth $2,124,000 after purchasing an additional 600 shares in the last quarter. GAMMA Investing LLC lifted its holdings in shares of SpartanNash by 8.5% in the 1st quarter. GAMMA Investing LLC now owns 8,097 shares of the company’s stock worth $164,000 after acquiring an additional 636 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of SpartanNash by 4.0% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,198 shares of the company’s stock worth $352,000 after acquiring an additional 732 shares during the last quarter. SummerHaven Investment Management LLC lifted its holdings in shares of SpartanNash by 1.9% in the 1st quarter. SummerHaven Investment Management LLC now owns 42,807 shares of the company’s stock worth $867,000 after acquiring an additional 789 shares during the last quarter. Finally, BOKF NA lifted its holdings in shares of SpartanNash by 10.6% in the 4th quarter. BOKF NA now owns 13,394 shares of the company’s stock worth $233,000 after acquiring an additional 1,280 shares during the last quarter. Hedge funds and other institutional investors own 84.59% of the company’s stock.

SpartanNash Stock Performance

Shares of NASDAQ SPTN opened at $26.53 on Friday. The company has a current ratio of 1.66, a quick ratio of 0.86 and a debt-to-equity ratio of 1.03. SpartanNash Company has a 12 month low of $17.30 and a 12 month high of $26.69. The company has a 50 day simple moving average of $23.38 and a two-hundred day simple moving average of $20.83. The stock has a market cap of $898.04 million, a price-to-earnings ratio of -82.91 and a beta of 0.46.

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

SpartanNash Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, June 13th were issued a $0.22 dividend. The ex-dividend date of this dividend was Friday, June 13th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.3%. SpartanNash’s dividend payout ratio is currently -275.00%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Wall Street Zen lowered shares of SpartanNash from a “buy” rating to a “hold” rating in a report on Friday, May 30th. BMO Capital Markets reiterated a “market perform” rating and set a $26.90 price objective (up previously from $20.00) on shares of SpartanNash in a report on Tuesday, June 24th.

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.