SpartanNash Company (SPTN) Shares Bought by Teachers Retirement System of The State of Kentucky
Teachers Retirement System of The State of Kentucky grew its stake in SpartanNash Company (NASDAQ:SPTN) by 25.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,020 shares of the company’s stock after purchasing an additional 3,300 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in SpartanNash were worth $422,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently modified their holdings of the company. Vanguard Group Inc. raised its position in shares of SpartanNash by 8.4% in the second quarter. Vanguard Group Inc. now owns 2,757,235 shares of the company’s stock valued at $71,578,000 after purchasing an additional 212,923 shares during the period. State Street Corp grew its stake in shares of SpartanNash by 5.6% in the second quarter. State Street Corp now owns 1,065,210 shares of the company’s stock valued at $27,654,000 after acquiring an additional 56,359 shares in the last quarter. Bank of New York Mellon Corp grew its stake in shares of SpartanNash by 3.2% in the third quarter. Bank of New York Mellon Corp now owns 1,032,110 shares of the company’s stock valued at $27,217,000 after acquiring an additional 31,792 shares in the last quarter. Northern Trust Corp grew its stake in shares of SpartanNash by 10.0% in the second quarter. Northern Trust Corp now owns 797,462 shares of the company’s stock valued at $20,702,000 after acquiring an additional 72,318 shares in the last quarter. Finally, Palisade Capital Management LLC NJ grew its stake in shares of SpartanNash by 10.9% in the third quarter. Palisade Capital Management LLC NJ now owns 751,965 shares of the company’s stock valued at $19,829,000 after acquiring an additional 74,046 shares in the last quarter. 86.12% of the stock is currently owned by institutional investors.
Shares of SpartanNash Company (NASDAQ:SPTN) opened at $25.36 on Friday. The stock has a market cap of $937.23, a PE ratio of 11.42, a price-to-earnings-growth ratio of 4.00 and a beta of 1.03. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.74 and a current ratio of 1.81. SpartanNash Company has a one year low of $18.56 and a one year high of $40.38.
SpartanNash announced that its board has authorized a share repurchase plan on Thursday, November 16th that authorizes the company to repurchase $50.00 million in outstanding shares. This repurchase authorization authorizes the company to repurchase shares of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its stock is undervalued.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Friday, December 8th will be paid a dividend of $0.165 per share. The ex-dividend date of this dividend is Thursday, December 7th. This represents a $0.66 dividend on an annualized basis and a yield of 2.60%. SpartanNash’s payout ratio is -32.67%.
Several equities analysts recently commented on SPTN shares. BidaskClub downgraded shares of SpartanNash from a “hold” rating to a “sell” rating in a research note on Tuesday, August 8th. Jefferies Group restated a “hold” rating and issued a $30.00 price target on shares of SpartanNash in a research note on Friday, August 11th. Pivotal Research set a $20.00 price target on shares of SpartanNash and gave the company a “sell” rating in a research note on Tuesday, August 15th. Deutsche Bank decreased their price target on shares of SpartanNash from $40.00 to $26.00 and set a “hold” rating on the stock in a research note on Friday, August 18th. Finally, Zacks Investment Research downgraded shares of SpartanNash from a “hold” rating to a “sell” rating in a research note on Saturday, August 19th. Two equities research analysts have rated the stock with a sell rating and six have assigned a hold rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $23.20.
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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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