Geode Capital Management LLC Sells 8,147 Shares of SpartanNash (NASDAQ:SPTN)

Geode Capital Management LLC cut its stake in SpartanNash (NASDAQ:SPTN) by 1.0% in the third quarter, Holdings Channel reports. The institutional investor owned 792,729 shares of the company’s stock after selling 8,147 shares during the period. Geode Capital Management LLC’s holdings in SpartanNash were worth $17,769,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Barclays PLC boosted its stake in shares of SpartanNash by 120.0% during the 3rd quarter. Barclays PLC now owns 86,412 shares of the company’s stock worth $1,936,000 after purchasing an additional 47,141 shares during the period. Dean Investment Associates LLC lifted its stake in SpartanNash by 54.2% in the third quarter. Dean Investment Associates LLC now owns 188,335 shares of the company’s stock worth $4,221,000 after purchasing an additional 66,178 shares during the last quarter. Stifel Financial Corp boosted its position in shares of SpartanNash by 14.7% during the third quarter. Stifel Financial Corp now owns 47,240 shares of the company’s stock valued at $1,059,000 after buying an additional 6,058 shares during the period. Atom Investors LP bought a new position in shares of SpartanNash during the third quarter valued at approximately $419,000. Finally, Verition Fund Management LLC purchased a new stake in shares of SpartanNash in the third quarter worth approximately $244,000. 84.59% of the stock is owned by hedge funds and other institutional investors.

SpartanNash Trading Down 1.2 %

SPTN opened at $18.21 on Friday. The company has a quick ratio of 0.83, a current ratio of 1.62 and a debt-to-equity ratio of 0.80. The stock’s fifty day moving average is $19.54 and its two-hundred day moving average is $20.17. The company has a market capitalization of $614.68 million, a P/E ratio of 13.69 and a beta of 0.35. SpartanNash has a 52 week low of $17.74 and a 52 week high of $24.51.

SpartanNash (NASDAQ:SPTN) last announced its quarterly earnings results on Thursday, November 7th. The company reported $0.48 EPS for the quarter, beating the consensus estimate of $0.47 by $0.01. SpartanNash had a return on equity of 8.57% and a net margin of 0.48%. The firm had revenue of $2.25 billion for the quarter, compared to analyst estimates of $2.24 billion. During the same quarter last year, the firm posted $0.54 earnings per share. The business’s revenue for the quarter was down .6% on a year-over-year basis. Analysts forecast that SpartanNash will post 1.88 earnings per share for the current year.

SpartanNash Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Monday, December 9th will be issued a $0.2175 dividend. 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 4.78%. SpartanNash’s dividend payout ratio is presently 65.41%.

Analyst Upgrades and Downgrades

Separately, StockNews.com lowered SpartanNash from a “buy” rating to a “hold” rating in a research note 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.