PDT Partners LLC Trims Stake in SpartanNash (NASDAQ:SPTN)

PDT Partners LLC lessened its stake in SpartanNash (NASDAQ:SPTN) by 18.1% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 31,584 shares of the company’s stock after selling 6,991 shares during the period. PDT Partners LLC owned about 0.09% of SpartanNash worth $708,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. US Bancorp DE lifted its stake in shares of SpartanNash by 3.6% in the 3rd quarter. US Bancorp DE now owns 16,816 shares of the company’s stock valued at $377,000 after purchasing an additional 587 shares during the period. Creative Planning increased its holdings in SpartanNash by 5.7% in the third quarter. Creative Planning now owns 13,165 shares of the company’s stock valued at $295,000 after buying an additional 708 shares in the last quarter. Signaturefd LLC raised its position in shares of SpartanNash by 64.9% in the third quarter. Signaturefd LLC now owns 1,801 shares of the company’s stock worth $40,000 after acquiring an additional 709 shares during the period. SummerHaven Investment Management LLC boosted its stake in shares of SpartanNash by 2.2% during the 2nd quarter. SummerHaven Investment Management LLC now owns 34,421 shares of the company’s stock worth $646,000 after acquiring an additional 752 shares in the last quarter. Finally, Martingale Asset Management L P grew its position in shares of SpartanNash by 2.2% during the 3rd quarter. Martingale Asset Management L P now owns 48,114 shares of the company’s stock valued at $1,078,000 after acquiring an additional 1,040 shares during the period. Institutional investors and hedge funds own 84.59% of the company’s stock.

SpartanNash Price Performance

SpartanNash stock opened at $19.13 on Tuesday. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.83 and a current ratio of 1.62. The company’s fifty day moving average price is $20.56 and its 200 day moving average price is $20.29. The stock has a market capitalization of $645.73 million, a P/E ratio of 14.38 and a beta of 0.39. SpartanNash has a 1 year low of $17.74 and a 1 year high of $24.51.

SpartanNash (NASDAQ:SPTN) last released its earnings results on Thursday, November 7th. The company reported $0.48 EPS for the quarter, topping analysts’ consensus estimates of $0.47 by $0.01. SpartanNash had a net margin of 0.48% and a return on equity of 8.57%. The business had revenue of $2.25 billion during the quarter, compared to analysts’ expectations of $2.24 billion. The company’s quarterly revenue was down .6% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.54 earnings per share. As a group, equities research analysts anticipate that SpartanNash will post 1.88 earnings per share for the current fiscal year.

SpartanNash Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Monday, December 9th will be issued a dividend of $0.2175 per share. The ex-dividend date of this dividend is Monday, December 9th. This represents a $0.87 dividend on an annualized basis and a dividend yield of 4.55%. SpartanNash’s payout ratio is currently 65.41%.

Wall Street Analyst Weigh In

Separately, StockNews.com cut SpartanNash from a “buy” rating to a “hold” rating in a report on Friday, November 8th.

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.