Phocas Financial Corp. Decreases Holdings in SpartanNash (NASDAQ:SPTN)

Phocas Financial Corp. reduced its holdings in shares of SpartanNash (NASDAQ:SPTN) by 5.1% during the third quarter, Holdings Channel reports. The fund owned 219,427 shares of the company’s stock after selling 11,718 shares during the period. Phocas Financial Corp.’s holdings in SpartanNash were worth $4,917,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. raised its position in SpartanNash by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 3,123,088 shares of the company’s stock worth $63,118,000 after purchasing an additional 20,262 shares during the period. American Century Companies Inc. boosted its holdings in SpartanNash by 20.0% during the 2nd quarter. American Century Companies Inc. now owns 744,282 shares of the company’s stock valued at $13,963,000 after acquiring an additional 123,952 shares during the period. Dana Investment Advisors Inc. grew its position in SpartanNash by 14.5% during the 2nd quarter. Dana Investment Advisors Inc. now owns 328,357 shares of the company’s stock worth $6,160,000 after acquiring an additional 41,619 shares during the last quarter. Ellsworth Advisors LLC increased its stake in SpartanNash by 0.8% in the 3rd quarter. Ellsworth Advisors LLC now owns 223,742 shares of the company’s stock worth $5,014,000 after purchasing an additional 1,803 shares during the period. Finally, AQR Capital Management LLC lifted its position in SpartanNash by 17.8% in the second quarter. AQR Capital Management LLC now owns 197,551 shares of the company’s stock valued at $3,706,000 after purchasing an additional 29,849 shares during the last quarter. 84.59% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

SpartanNash Price Performance

Shares of SpartanNash stock opened at $18.22 on Tuesday. The company has a market cap of $615.11 million, a PE ratio of 13.70 and a beta of 0.39. The business has a 50 day moving average of $21.22 and a 200 day moving average of $20.40. SpartanNash has a 52 week low of $17.74 and a 52 week high of $24.51. 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 (NASDAQ:SPTN) last issued its quarterly earnings results on Thursday, November 7th. The company reported $0.48 earnings per share for the quarter, topping the consensus estimate of $0.47 by $0.01. The company had revenue of $2.25 billion for the quarter, compared to analysts’ expectations of $2.24 billion. SpartanNash had a return on equity of 8.57% and a net margin of 0.48%. The firm’s revenue for the quarter was down .6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.54 earnings per share. As a group, equities research analysts forecast that SpartanNash will post 1.88 earnings per share for the current year.

SpartanNash Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 4th. Investors of record on Monday, September 23rd were issued a $0.218 dividend. The ex-dividend date of this dividend was Monday, September 23rd. This represents a $0.87 dividend on an annualized basis and a yield of 4.79%. SpartanNash’s payout ratio is currently 65.41%.

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.