Martin & Co. Inc. TN Cuts Position in SpartanNash (NASDAQ:SPTN)

Martin & Co. Inc. TN reduced its holdings in shares of SpartanNash (NASDAQ:SPTN) by 6.8% in the 4th quarter, HoldingsChannel.com reports. The fund owned 61,106 shares of the company’s stock after selling 4,466 shares during the period. Martin & Co. Inc. TN’s holdings in SpartanNash were worth $1,119,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. Principal Financial Group Inc. increased its holdings in SpartanNash by 2.9% during the 4th quarter. Principal Financial Group Inc. now owns 163,673 shares of the company’s stock valued at $2,998,000 after acquiring an additional 4,596 shares in the last quarter. Empowered Funds LLC increased its holdings in SpartanNash by 5.1% during the 4th quarter. Empowered Funds LLC now owns 178,347 shares of the company’s stock valued at $3,267,000 after acquiring an additional 8,652 shares in the last quarter. Yousif Capital Management LLC increased its holdings in SpartanNash by 5.9% during the 4th quarter. Yousif Capital Management LLC now owns 13,696 shares of the company’s stock valued at $251,000 after acquiring an additional 768 shares in the last quarter. Exchange Traded Concepts LLC increased its holdings in SpartanNash by 4.3% during the 4th quarter. Exchange Traded Concepts LLC now owns 80,418 shares of the company’s stock valued at $1,473,000 after acquiring an additional 3,308 shares in the last quarter. Finally, Inspire Investing LLC increased its holdings in SpartanNash by 17.6% during the 4th quarter. Inspire Investing LLC now owns 21,567 shares of the company’s stock valued at $395,000 after acquiring an additional 3,227 shares in the last quarter. 84.59% of the stock is currently owned by hedge funds and other institutional investors.

SpartanNash Price Performance

SPTN opened at $20.33 on Monday. The company has a quick ratio of 0.83, a current ratio of 1.62 and a debt-to-equity ratio of 0.80. SpartanNash has a 52-week low of $17.30 and a 52-week high of $23.00. The company has a 50 day moving average of $18.61 and a two-hundred day moving average of $19.99. The company has a market cap of $686.34 million, a P/E ratio of 15.29 and a beta of 0.34.

SpartanNash (NASDAQ:SPTN) last released its quarterly earnings data on Wednesday, February 12th. The company reported $0.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.33 by $0.09. SpartanNash had a net margin of 0.48% and a return on equity of 8.57%. During the same quarter in the prior year, the company earned $0.35 earnings per share. On average, analysts expect that SpartanNash will post 1.88 earnings per share for the current year.

SpartanNash Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 30th. Stockholders of record on Monday, December 9th were given a dividend of $0.2175 per share. The ex-dividend date was Monday, December 9th. This represents a $0.87 dividend on an annualized basis and a dividend yield of 4.28%. SpartanNash’s payout ratio is currently 65.41%.

Analysts Set New Price Targets

Separately, StockNews.com lowered shares of SpartanNash from a “buy” rating to a “hold” rating in a research report on Thursday, January 30th.

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.