Acadian Asset Management LLC boosted its holdings in shares of SpartanNash (NASDAQ:SPTN) by 223.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 320,600 shares of the company’s stock after acquiring an additional 221,585 shares during the period. Acadian Asset Management LLC’s holdings in SpartanNash were worth $5,242,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also made changes to their positions in SPTN. Intrinsic Edge Capital Management LLC grew its stake in SpartanNash by 905.9% during the 2nd quarter. Intrinsic Edge Capital Management LLC now owns 449,437 shares of the company’s stock valued at $9,551,000 after acquiring an additional 404,757 shares in the last quarter. Foundry Partners LLC grew its stake in SpartanNash by 492.3% during the 3rd quarter. Foundry Partners LLC now owns 398,259 shares of the company’s stock valued at $6,512,000 after acquiring an additional 331,014 shares in the last quarter. Grantham Mayo Van Otterloo & Co. LLC grew its stake in SpartanNash by 595.6% during the 2nd quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 159,300 shares of the company’s stock valued at $3,385,000 after acquiring an additional 136,400 shares in the last quarter. Marshall Wace LLP grew its stake in SpartanNash by 809.2% during the 2nd quarter. Marshall Wace LLP now owns 124,295 shares of the company’s stock valued at $2,641,000 after acquiring an additional 110,624 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. grew its stake in SpartanNash by 134.6% during the 2nd quarter. Jacobs Levy Equity Management Inc. now owns 170,172 shares of the company’s stock valued at $3,616,000 after acquiring an additional 97,627 shares in the last quarter. 84.92% of the stock is owned by institutional investors.
Shares of SPTN stock opened at $18.06 on Friday. The firm’s 50 day moving average price is $19.12 and its 200-day moving average price is $19.46. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.75 and a current ratio of 1.56. SpartanNash has a one year low of $9.00 and a one year high of $23.94. The firm has a market cap of $647.69 million, a P/E ratio of 13.18 and a beta of 0.98.
SpartanNash (NASDAQ:SPTN) last issued its quarterly earnings data on Monday, November 16th. The company reported $0.70 EPS for the quarter, topping the consensus estimate of $0.62 by $0.08. SpartanNash had a net margin of 0.54% and a return on equity of 10.02%. The firm had revenue of $2.06 billion for the quarter, compared to analyst estimates of $2.14 billion. During the same period in the prior year, the business posted $0.30 EPS. The business’s revenue for the quarter was up 3.1% compared to the same quarter last year. As a group, research analysts predict that SpartanNash will post 2.52 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 31st. Stockholders of record on Thursday, December 10th will be issued a $0.192 dividend. The ex-dividend date of this dividend is Wednesday, December 9th. This represents a $0.77 annualized dividend and a dividend yield of 4.25%. SpartanNash’s dividend payout ratio is currently 70.00%.
SPTN has been the subject of several research reports. BMO Capital Markets reaffirmed a “hold” rating and set a $23.00 price objective on shares of SpartanNash in a research note on Friday, August 14th. BidaskClub lowered shares of SpartanNash from a “hold” rating to a “sell” rating in a report on Thursday, September 17th. Jefferies Financial Group reiterated a “hold” rating and issued a $20.00 target price on shares of SpartanNash in a report on Friday. TheStreet upgraded shares of SpartanNash from a “c” rating to a “b” rating in a report on Wednesday, August 12th. Finally, Wolfe Research began coverage on shares of SpartanNash in a report on Friday, October 9th. They issued an “outperform” rating and a $20.00 target price on the stock. Two analysts have rated the stock with a sell rating, five have issued a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. SpartanNash currently has a consensus rating of “Hold” and an average target price of $20.50.
SpartanNash Company Profile
SpartanNash Company distributes and retails grocery products. It operates in three segments: Food Distribution, Military, and Retail. The Food Distribution segment offers approximately 52,000 stock-keeping units, such as 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 pharmacy products to independent retailers, national retailers, food service distributors, e-commerce providers, and corporate owned retail stores.
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