SpartanNash (NASDAQ:SPTN) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. trimmed its position in SpartanNash (NASDAQ:SPTN) by 6.4% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 159,077 shares of the company’s stock after selling 10,916 shares during the period. Principal Financial Group Inc.’s holdings in SpartanNash were worth $3,565,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the company. nVerses Capital LLC acquired a new stake in SpartanNash during the second quarter worth $30,000. Canada Pension Plan Investment Board acquired a new stake in shares of SpartanNash during the 2nd quarter worth about $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 valued at $40,000 after buying an additional 709 shares during the period. Point72 Hong Kong Ltd acquired a new stake in shares of SpartanNash during the second quarter valued at about $79,000. Finally, GAMMA Investing LLC raised its stake in shares of SpartanNash by 64.7% in the 3rd quarter. GAMMA Investing LLC now owns 3,920 shares of the company’s stock valued at $88,000 after acquiring an additional 1,540 shares during the period. Hedge funds and other institutional investors own 84.59% of the company’s stock.

SpartanNash Stock Down 0.6 %

Shares of SpartanNash stock 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. SpartanNash has a 52-week low of $17.74 and a 52-week high of $24.51. The company has a market capitalization of $614.68 million, a P/E ratio of 13.69 and a beta of 0.35. The company has a 50 day moving average of $19.28 and a 200 day moving average of $20.14.

SpartanNash (NASDAQ:SPTN) last released its quarterly earnings data on Thursday, November 7th. The company reported $0.48 earnings per share (EPS) for the quarter, topping 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 business had revenue of $2.25 billion during the quarter, compared to analysts’ expectations of $2.24 billion. During the same period in the prior year, the firm posted $0.54 EPS. The business’s quarterly revenue was down .6% compared to the same quarter last year. As a group, research analysts forecast that SpartanNash will post 1.88 EPS for the current fiscal year.

SpartanNash Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 30th. Stockholders of record on Monday, December 9th were given a dividend of $0.2175 per share. The ex-dividend date of this dividend was Monday, December 9th. This represents a $0.87 annualized dividend and a dividend yield of 4.78%. SpartanNash’s dividend payout ratio is presently 65.41%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded shares of 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.