SpartanNash (NASDAQ:SPTN) Earns “Market Perform” Rating from BMO Capital Markets

BMO Capital Markets restated their market perform rating on shares of SpartanNash (NASDAQ:SPTN) in a research report report published on Tuesday morning, MarketBeat.com reports. BMO Capital Markets currently has a $26.90 price objective on the stock, up from their prior price objective of $20.00.

Separately, Wall Street Zen lowered shares of SpartanNash from a “buy” rating to a “hold” rating in a research report on Friday, May 30th.

SpartanNash Stock Performance

Shares of SPTN stock opened at $26.40 on Tuesday. The stock has a market capitalization of $893.64 million, a PE ratio of -82.50 and a beta of 0.34. The company has a quick ratio of 0.86, a current ratio of 1.66 and a debt-to-equity ratio of 1.03. The stock’s 50-day moving average price is $19.61 and its 200 day moving average price is $19.34. SpartanNash has a 52-week low of $17.30 and a 52-week high of $26.65.

SpartanNash (NASDAQ:SPTN) last issued its quarterly earnings results on Thursday, May 29th. The company reported $0.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.08). The firm had revenue of $2.91 billion for the quarter, compared to analyst estimates of $2.87 billion. SpartanNash had a positive return on equity of 8.26% and a negative net margin of 0.11%. The company’s revenue was up 3.7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.53 earnings per share. As a group, equities research analysts forecast that SpartanNash will post 1.79 EPS for the current year.

SpartanNash Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 13th will be issued a $0.22 dividend. The ex-dividend date is Friday, June 13th. This represents a $0.88 dividend on an annualized basis and a yield of 3.33%. SpartanNash’s dividend payout ratio (DPR) is presently -275.00%.

Institutional Investors Weigh In On SpartanNash

Hedge funds and other institutional investors have recently modified their holdings of the stock. Millennium Management LLC increased its stake in SpartanNash by 837.8% in the 1st quarter. Millennium Management LLC now owns 515,436 shares of the company’s stock valued at $10,443,000 after purchasing an additional 460,474 shares in the last quarter. Invesco Ltd. grew its holdings in SpartanNash by 25.1% in the fourth quarter. Invesco Ltd. now owns 1,243,507 shares of the company’s stock valued at $22,781,000 after purchasing an additional 249,616 shares during the last quarter. GAMMA Investing LLC grew its holdings in SpartanNash by 2,098.7% in the first quarter. GAMMA Investing LLC now owns 164,045 shares of the company’s stock valued at $3,324,000 after purchasing an additional 156,584 shares during the last quarter. American Century Companies Inc. increased its position in shares of SpartanNash by 13.0% in the first quarter. American Century Companies Inc. now owns 1,177,857 shares of the company’s stock valued at $23,863,000 after buying an additional 135,665 shares in the last quarter. Finally, LSV Asset Management raised its stake in shares of SpartanNash by 12.2% during the 1st quarter. LSV Asset Management now owns 1,096,261 shares of the company’s stock worth $22,210,000 after buying an additional 118,863 shares during the last quarter. 84.59% of the stock is currently owned by institutional investors and hedge funds.

SpartanNash Company Profile

SpartanNash Company distributes and retails grocery products in the United States of America. It operates through Wholesale and Retail segments. The Wholesale segment offers grocery products and perishable food products, including 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 pharmaceutical products to independent retailers, national accounts, food service distributors, e-commerce providers, and corporate owned retail stores.