SpartanNash (NASDAQ:SPTN) Lowered to Hold Rating by StockNews.com

StockNews.com lowered shares of SpartanNash (NASDAQ:SPTN) from a buy rating to a hold rating in a report released on Wednesday.

Separately, Northcoast Research lowered SpartanNash from a “buy” rating to a “neutral” rating and set a $10.00 target price on the stock. in a report on Wednesday, February 19th.

SpartanNash Stock Performance

NASDAQ SPTN opened at $19.91 on Wednesday. The firm has a market capitalization of $672.26 million, a P/E ratio of -1,991.00 and a beta of 0.34. The company has a current ratio of 1.57, a quick ratio of 0.78 and a debt-to-equity ratio of 1.00. The firm’s fifty day moving average price is $19.35 and its two-hundred day moving average price is $19.80. SpartanNash has a 1 year low of $17.30 and a 1 year high of $23.00.

SpartanNash (NASDAQ:SPTN) last issued its earnings results on Wednesday, February 12th. The company reported $0.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.33 by $0.09. During the same quarter in the prior year, the firm earned $0.35 earnings per share. As a group, research analysts anticipate that SpartanNash will post 1.79 EPS for the current year.

SpartanNash Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Friday, March 21st will be issued a $0.22 dividend. This is a boost from SpartanNash’s previous quarterly dividend of $0.22. This represents a $0.88 annualized dividend and a yield of 4.42%. The ex-dividend date is Friday, March 21st. SpartanNash’s dividend payout ratio is currently -8,800.00%.

Institutional Trading of SpartanNash

A number of institutional investors have recently bought and sold shares of SPTN. Nisa Investment Advisors LLC grew its position in SpartanNash by 3,585.1% during the fourth quarter. Nisa Investment Advisors LLC now owns 1,732 shares of the company’s stock worth $32,000 after buying an additional 1,685 shares in the last quarter. State of Wyoming bought a new position in shares of SpartanNash in the fourth quarter worth $43,000. Tower Research Capital LLC TRC raised its stake in SpartanNash by 167.4% in the fourth quarter. Tower Research Capital LLC TRC now owns 5,966 shares of the company’s stock valued at $109,000 after purchasing an additional 3,735 shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main bought a new stake in SpartanNash during the fourth quarter worth about $113,000. Finally, KLP Kapitalforvaltning AS acquired a new stake in SpartanNash during the fourth quarter worth about $132,000. Institutional investors own 84.59% of the company’s stock.

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.