BNP Paribas Financial Markets Reduces Position in SpartanNash (NASDAQ:SPTN)

BNP Paribas Financial Markets reduced its position in shares of SpartanNash (NASDAQ:SPTN) by 1.5% in the third quarter, HoldingsChannel reports. The institutional investor owned 62,380 shares of the company’s stock after selling 968 shares during the quarter. BNP Paribas Financial Markets’ holdings in SpartanNash were worth $1,398,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. nVerses Capital LLC purchased a new position in shares of SpartanNash during the second quarter valued at approximately $30,000. Canada Pension Plan Investment Board purchased a new position in SpartanNash during the 2nd quarter valued at $34,000. Signaturefd LLC raised its holdings in SpartanNash by 64.9% in the 3rd 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. Blue Trust Inc. lifted its position in shares of SpartanNash by 5,317.6% in the 2nd 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, GAMMA Investing LLC boosted its stake in shares of SpartanNash by 114.4% during the 2nd quarter. GAMMA Investing LLC now owns 2,380 shares of the company’s stock valued at $45,000 after purchasing an additional 1,270 shares in the last quarter. 84.59% of the stock is currently owned by institutional investors.

SpartanNash Stock Performance

Shares of SpartanNash stock opened at $18.63 on Monday. The business has a fifty day simple moving average of $20.31 and a two-hundred day simple moving average of $20.25. The firm has a market capitalization of $628.95 million, a P/E ratio of 14.01 and a beta of 0.35. The company has a current ratio of 1.62, a quick ratio of 0.83 and a debt-to-equity ratio of 0.80. SpartanNash has a 12 month low of $17.74 and a 12 month high of $24.51.

SpartanNash (NASDAQ:SPTN) last posted its quarterly earnings data on Thursday, November 7th. The company reported $0.48 EPS for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $2.24 billion. During the same quarter in the previous year, the firm posted $0.54 earnings per share. SpartanNash’s quarterly revenue was down .6% on a year-over-year basis. On average, equities analysts forecast that SpartanNash will post 1.88 earnings per share for the current fiscal year.

SpartanNash Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Monday, December 9th will be paid a $0.2175 dividend. The ex-dividend date is Monday, December 9th. This represents a $0.87 annualized dividend and a dividend yield of 4.67%. SpartanNash’s payout ratio is currently 65.41%.

Analyst Upgrades and Downgrades

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

SpartanNash 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.