Citigroup Inc. Lowers Stake in SpartanNash Company (SPTN)
Citigroup Inc. cut its holdings in SpartanNash Company (NASDAQ:SPTN) by 5.9% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 45,468 shares of the company’s stock after selling 2,846 shares during the quarter. Citigroup Inc. owned approximately 0.12% of SpartanNash worth $1,180,000 at the end of the most recent reporting period.
Several other large investors have also made changes to their positions in the company. Alpha Windward LLC increased its stake in shares of SpartanNash by 1.4% in the second quarter. Alpha Windward LLC now owns 12,600 shares of the company’s stock valued at $327,000 after buying an additional 180 shares in the last quarter. Louisiana State Employees Retirement System increased its stake in shares of SpartanNash by 1.3% in the second quarter. Louisiana State Employees Retirement System now owns 15,460 shares of the company’s stock valued at $401,000 after buying an additional 200 shares in the last quarter. Arizona State Retirement System increased its stake in shares of SpartanNash by 1.0% in the second quarter. Arizona State Retirement System now owns 19,760 shares of the company’s stock valued at $513,000 after buying an additional 200 shares in the last quarter. Comerica Bank increased its stake in shares of SpartanNash by 0.3% in the second quarter. Comerica Bank now owns 81,958 shares of the company’s stock valued at $2,180,000 after buying an additional 208 shares in the last quarter. Finally, Public Employees Retirement System of Ohio increased its stake in shares of SpartanNash by 1.4% in the first quarter. Public Employees Retirement System of Ohio now owns 18,138 shares of the company’s stock valued at $635,000 after buying an additional 255 shares in the last quarter. Institutional investors own 88.24% of the company’s stock.
A number of brokerages have recently weighed in on SPTN. Deutsche Bank AG lowered their target price on SpartanNash from $40.00 to $26.00 and set a “hold” rating for the company in a research note on Friday, August 18th. BidaskClub lowered SpartanNash from a “hold” rating to a “sell” rating in a research note on Tuesday, August 8th. Jefferies Group LLC set a $27.00 target price on SpartanNash and gave the company a “hold” rating in a research note on Thursday, August 17th. Pivotal Research set a $20.00 target price on SpartanNash and gave the company a “sell” rating in a research note on Tuesday, August 15th. Finally, Barclays PLC reiterated an “equal weight” rating and issued a $28.00 price objective (down from $36.00) on shares of SpartanNash in a research report on Friday, July 14th. Three research analysts have rated the stock with a sell rating and five have assigned a hold rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $24.80.
Shares of SpartanNash Company (SPTN) opened at 26.29 on Thursday. The firm has a market capitalization of $979.83 million, a price-to-earnings ratio of 15.08 and a beta of 1.08. The company has a 50-day moving average price of $24.98 and a 200-day moving average price of $29.59. SpartanNash Company has a 12 month low of $22.90 and a 12 month high of $40.38.
SpartanNash (NASDAQ:SPTN) last issued its earnings results on Wednesday, August 16th. The company reported $0.60 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.60. SpartanNash had a return on equity of 10.00% and a net margin of 0.83%. The business had revenue of $1.89 billion during the quarter, compared to analysts’ expectations of $1.96 billion. During the same quarter in the prior year, the firm earned $0.58 EPS. The business’s revenue for the quarter was up 3.7% compared to the same quarter last year. Equities analysts forecast that SpartanNash Company will post $2.23 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 29th. Shareholders of record on Friday, September 15th were issued a $0.165 dividend. The ex-dividend date of this dividend was Thursday, September 14th. This represents a $0.66 dividend on an annualized basis and a yield of 2.51%. SpartanNash’s payout ratio is presently 37.93%.
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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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