SpartanNash (NASDAQ:SPTN) Trading Down 11% – What’s Next?

SpartanNash (NASDAQ:SPTN) traded down 11% during mid-day trading on Thursday . The company traded as low as $19.65 and last traded at $20.10. 84,793 shares changed hands during trading, a decline of 65% from the average session volume of 245,342 shares. The stock had previously closed at $22.59.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised SpartanNash from a “hold” rating to a “buy” rating in a research note on Wednesday, September 18th.

SpartanNash Price Performance

The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.80 and a current ratio of 1.62. The stock has a market cap of $672.10 million, a PE ratio of 14.83 and a beta of 0.39. The business has a 50 day moving average price of $21.72 and a two-hundred day moving average price of $20.43.

SpartanNash (NASDAQ:SPTN) last announced its earnings results on Thursday, August 15th. The company reported $0.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.56 by $0.03. The firm had revenue of $2.23 billion during the quarter, compared to analyst estimates of $2.27 billion. SpartanNash had a return on equity of 8.87% and a net margin of 0.48%. The business’s revenue was down 3.5% compared to the same quarter last year. During the same period last year, the firm posted $0.65 EPS. Research analysts expect that SpartanNash will post 1.98 earnings per share for the current fiscal year.

SpartanNash Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 4th. Stockholders of record on Monday, September 23rd were given a dividend of $0.218 per share. This represents a $0.87 dividend on an annualized basis and a dividend yield of 4.38%. The ex-dividend date of this dividend was Monday, September 23rd. SpartanNash’s dividend payout ratio is currently 65.41%.

Institutional Investors Weigh In On SpartanNash

A number of hedge funds have recently modified their holdings of the stock. Larson Financial Group LLC bought a new stake in shares of SpartanNash in the first quarter valued at $30,000. nVerses Capital LLC bought a new stake in SpartanNash in the 2nd quarter valued at about $30,000. Canada Pension Plan Investment Board purchased a new stake in SpartanNash during the second quarter valued at about $34,000. Blue Trust Inc. boosted its position in SpartanNash by 5,317.6% during the second quarter. Blue Trust Inc. now owns 1,842 shares of the company’s stock worth $37,000 after purchasing an additional 1,808 shares during the period. Finally, Signaturefd LLC increased its stake 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 purchasing an additional 709 shares in the last quarter. Institutional investors own 84.59% of the company’s stock.

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.