Martin & Co. Inc. TN Grows Position in SpartanNash Company (SPTN)
Martin & Co. Inc. TN increased its stake in SpartanNash Company (NASDAQ:SPTN) by 106.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 70,265 shares of the company’s stock after buying an additional 36,200 shares during the period. Martin & Co. Inc. TN owned 0.19% of SpartanNash worth $1,824,000 at the end of the most recent reporting period.
A number of other hedge funds also recently added to or reduced their stakes in SPTN. Ameritas Investment Partners Inc. bought a new position in SpartanNash in the first quarter worth about $112,000. Victory Capital Management Inc. raised its stake in SpartanNash by 17.7% in the second quarter. Victory Capital Management Inc. now owns 4,689 shares of the company’s stock worth $122,000 after buying an additional 704 shares in the last quarter. Sei Investments Co. bought a new position in SpartanNash in the second quarter worth about $127,000. State of Alaska Department of Revenue raised its stake in SpartanNash by 80.4% in the second quarter. State of Alaska Department of Revenue now owns 7,468 shares of the company’s stock worth $193,000 after buying an additional 3,328 shares in the last quarter. Finally, US Bancorp DE raised its stake in SpartanNash by 21.1% in the first quarter. US Bancorp DE now owns 5,540 shares of the company’s stock worth $194,000 after buying an additional 965 shares in the last quarter. 88.24% of the stock is owned by institutional investors.
A number of equities analysts recently issued reports on the stock. Deutsche Bank AG decreased their price target on shares of SpartanNash from $40.00 to $26.00 and set a “hold” rating for the company in a research note on Friday, August 18th. BidaskClub downgraded shares of SpartanNash from a “hold” rating to a “sell” rating in a research note on Tuesday, August 8th. Jefferies Group LLC set a $27.00 price target on shares of SpartanNash and gave the stock a “hold” rating in a research note on Thursday, August 17th. Pivotal Research set a $20.00 price target on shares of SpartanNash and gave the stock a “sell” rating in a research note on Tuesday, August 15th. Finally, Barclays PLC reissued an “equal weight” rating and issued a $28.00 price target (down from $36.00) on shares of SpartanNash in a research note on Friday, July 14th. Three analysts have rated the stock with a sell rating and five have assigned a hold rating to the company. SpartanNash presently has an average rating of “Hold” and a consensus target price of $24.80.
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SpartanNash Company (NASDAQ:SPTN) traded down 0.12% during trading on Wednesday, reaching $25.92. 31,007 shares of the company were exchanged. SpartanNash Company has a 1-year low of $22.90 and a 1-year high of $40.38. The company’s 50-day moving average price is $25.10 and its 200-day moving average price is $29.34. The stock has a market capitalization of $966.06 million, a P/E ratio of 14.81 and a beta of 1.08.
SpartanNash (NASDAQ:SPTN) last posted its quarterly earnings results on Wednesday, August 16th. The company reported $0.60 EPS for the quarter, meeting the consensus estimate of $0.60. SpartanNash had a net margin of 0.83% and a return on equity of 10.00%. The business had revenue of $1.89 billion during the quarter, compared to analyst estimates of $1.96 billion. During the same quarter in the previous year, the business posted $0.58 EPS. The company’s quarterly revenue was up 3.7% compared to the same quarter last year. On average, equities analysts forecast that SpartanNash Company will post $2.23 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 29th. Stockholders of record on Friday, September 15th were issued a $0.165 dividend. The ex-dividend date was Thursday, September 14th. This represents a $0.66 annualized dividend and a dividend yield of 2.54%. SpartanNash’s dividend payout ratio is currently 37.93%.
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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