Rhumbline Advisers Sells 5,598 Shares of SpartanNash Company $SPTN

Rhumbline Advisers cut its holdings in SpartanNash Company (NASDAQ:SPTN) by 5.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 105,099 shares of the company’s stock after selling 5,598 shares during the quarter. Rhumbline Advisers owned approximately 0.31% of SpartanNash worth $2,129,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of the business. Universal Beteiligungs und Servicegesellschaft mbH grew 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 during the last quarter. GAMMA Investing LLC raised its holdings in 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. raised its holdings in 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 raised its stake in SpartanNash by 1.9% during the 1st quarter. SummerHaven Investment Management LLC now owns 42,807 shares of the company’s stock valued at $867,000 after buying an additional 789 shares during the last quarter. Finally, Graham Capital Management L.P. raised its stake in SpartanNash by 6.8% during the 1st quarter. Graham Capital Management L.P. now owns 28,581 shares of the company’s stock valued at $579,000 after buying an additional 1,817 shares during the last quarter. 84.59% of the stock is owned by institutional investors.

SpartanNash Stock Performance

Shares of NASDAQ:SPTN opened at $26.38 on Thursday. The firm has a 50 day moving average of $26.60 and a 200 day moving average of $22.56. The company has a quick ratio of 0.80, a current ratio of 1.57 and a debt-to-equity ratio of 0.96. SpartanNash Company has a 52 week low of $17.30 and a 52 week high of $26.89. The company has a market capitalization of $893.17 million, a price-to-earnings ratio of -54.96 and a beta of 0.50.

SpartanNash (NASDAQ:SPTN) last released its quarterly earnings results on Thursday, August 14th. The company reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.50 by $0.04. The business had revenue of $2.27 billion for the quarter, compared to analyst estimates of $2.29 billion. SpartanNash had a negative net margin of 0.16% and a positive return on equity of 8.19%. The business’s revenue for the quarter was up 1.8% on a year-over-year basis. During the same period in the previous year, the company earned $0.59 earnings per share. On average, sell-side analysts predict that SpartanNash Company will post 1.79 earnings per share for the current fiscal year.

SpartanNash Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th will be issued a dividend of $0.22 per share. The ex-dividend date of this dividend is Monday, September 15th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.3%. SpartanNash’s payout ratio is -183.33%.

Analyst Ratings Changes

SPTN has been the subject of several analyst reports. BMO Capital Markets restated a “market perform” rating and issued a $26.90 price objective (up from $20.00) on shares of SpartanNash in a research note on Tuesday, June 24th. Wall Street Zen downgraded shares of SpartanNash from a “buy” rating to a “hold” rating in a report on Friday, May 30th. Finally, Zacks Research raised shares of SpartanNash from a “strong sell” rating to a “hold” rating in a report on Monday, August 18th. Three equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $18.45.

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.