United Services Automobile Association purchased a new stake in shares of SpartanNash Company (NASDAQ:SPTN) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 11,480 shares of the company’s stock, valued at approximately $402,000.
A number of other large investors have also made changes to their positions in SPTN. State Street Corp increased its stake in shares of SpartanNash by 10.0% in the fourth quarter. State Street Corp now owns 928,336 shares of the company’s stock valued at $36,710,000 after buying an additional 84,421 shares in the last quarter. Bank of New York Mellon Corp boosted its position in SpartanNash by 5.0% in the first quarter. Bank of New York Mellon Corp now owns 582,553 shares of the company’s stock valued at $20,384,000 after buying an additional 27,757 shares during the last quarter. Norges Bank purchased a new position in SpartanNash during the fourth quarter valued at $22,534,000. Wedge Capital Management L L P NC boosted its position in SpartanNash by 16.6% in the first quarter. Wedge Capital Management L L P NC now owns 408,727 shares of the company’s stock valued at $14,301,000 after buying an additional 58,281 shares during the last quarter. Finally, AQR Capital Management LLC boosted its position in SpartanNash by 5.2% in the fourth quarter. AQR Capital Management LLC now owns 375,098 shares of the company’s stock valued at $14,831,000 after buying an additional 18,693 shares during the last quarter. 88.18% of the stock is owned by institutional investors and hedge funds.
SpartanNash Company (NASDAQ:SPTN) opened at 26.63 on Friday. The company has a market cap of $1.01 billion, a PE ratio of 16.18 and a beta of 0.99. The firm has a 50-day moving average price of $27.54 and a 200-day moving average price of $33.97. SpartanNash Company has a 52-week low of $24.81 and a 52-week high of $40.38.
SpartanNash (NASDAQ:SPTN) last announced its earnings results on Wednesday, May 24th. The company reported $0.55 earnings per share for the quarter, topping analysts’ consensus estimates of $0.54 by $0.01. The business had revenue of $2.40 billion for the quarter, compared to analyst estimates of $2.46 billion. SpartanNash had a return on equity of 10.03% and a net margin of 0.79%. The company’s quarterly revenue was up 5.4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.54 EPS. On average, analysts forecast that SpartanNash Company will post $2.30 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, June 30th. Shareholders of record on Friday, June 16th were paid a $0.165 dividend. The ex-dividend date of this dividend was Wednesday, June 14th. This represents a $0.66 dividend on an annualized basis and a yield of 2.48%. SpartanNash’s dividend payout ratio is currently 40.00%.
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Several research analysts have weighed in on the company. ValuEngine cut SpartanNash from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. BidaskClub cut SpartanNash from a “hold” rating to a “sell” rating in a research report on Monday, June 19th. Pivotal Research cut SpartanNash from a “hold” rating to a “sell” rating and decreased their price target for the stock from $35.00 to $20.00 in a research report on Monday, June 26th. Barclays PLC restated an “equal weight” rating and issued a $28.00 price target (down previously from $36.00) on shares of SpartanNash in a research report on Friday, July 14th. Finally, Jefferies Group LLC restated a “hold” rating and issued a $30.00 price target (down previously from $35.00) on shares of SpartanNash in a research report on Friday, June 23rd. Three equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $29.40.
In other news, Director M Shan Atkins sold 2,000 shares of the stock in a transaction dated Monday, June 19th. The stock was sold at an average price of $27.69, for a total transaction of $55,380.00. Following the transaction, the director now directly owns 32,425 shares in the company, valued at approximately $897,848.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Theodore Adornato sold 1,182 shares of the stock in a transaction dated Monday, May 15th. The shares were sold at an average price of $36.86, for a total value of $43,568.52. Following the transaction, the insider now owns 51,256 shares in the company, valued at $1,889,296.16. The disclosure for this sale can be found here. Insiders sold a total of 12,452 shares of company stock worth $426,213 over the last 90 days. Corporate insiders own 3.00% of the company’s stock.
SpartanNash Company is a multi-regional grocery distributor and grocery retailer. The Company’s core businesses include distributing grocery products to independent grocery retailers (independent retailers), select national retailers, its corporate owned retail stores, and the United States military commissaries.
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