FNY Investment Advisers LLC Makes New Investment in SpartanNash Company $SPTN

FNY Investment Advisers LLC bought a new position in shares of SpartanNash Company (NASDAQ:SPTN) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 5,000 shares of the company’s stock, valued at approximately $132,000.

Several other hedge funds have also recently bought and sold shares of SPTN. Millennium Management LLC increased its position in SpartanNash by 837.8% during the first quarter. Millennium Management LLC now owns 515,436 shares of the company’s stock worth $10,443,000 after buying an additional 460,474 shares during the last quarter. American Century Companies Inc. boosted its holdings in SpartanNash by 13.0% during the first quarter. American Century Companies Inc. now owns 1,177,857 shares of the company’s stock valued at $23,863,000 after acquiring an additional 135,665 shares during the period. LSV Asset Management boosted its holdings in SpartanNash by 12.2% during the first quarter. LSV Asset Management now owns 1,096,261 shares of the company’s stock valued at $22,210,000 after acquiring an additional 118,863 shares during the period. Phocas Financial Corp. boosted its holdings in SpartanNash by 49.3% during the first quarter. Phocas Financial Corp. now owns 324,606 shares of the company’s stock valued at $6,577,000 after acquiring an additional 107,125 shares during the period. Finally, Brandywine Global Investment Management LLC boosted its holdings in SpartanNash by 440.1% during the first quarter. Brandywine Global Investment Management LLC now owns 122,880 shares of the company’s stock valued at $2,490,000 after acquiring an additional 100,130 shares during the period. 84.59% of the stock is owned by institutional investors and hedge funds.

SpartanNash Price Performance

NASDAQ SPTN opened at $26.90 on Thursday. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.80 and a current ratio of 1.57. The firm has a 50-day simple moving average of $26.77 and a 200 day simple moving average of $23.73. SpartanNash Company has a twelve month low of $17.30 and a twelve month high of $27.07. The stock has a market cap of $910.78 million, a PE ratio of -56.04 and a beta of 0.50.

SpartanNash (NASDAQ:SPTN) last released its earnings results on Thursday, August 14th. The company reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.04. SpartanNash had a negative net margin of 0.16% and a positive return on equity of 8.19%. The business had revenue of $2.27 billion during the quarter, compared to analysts’ expectations of $2.29 billion. During the same quarter last year, the company earned $0.59 earnings per share. The firm’s revenue was up 1.8% on a year-over-year basis. On average, research analysts forecast that SpartanNash Company will post 1.79 EPS for the current year.

SpartanNash Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Monday, September 15th were paid a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 3.3%. The ex-dividend date was Monday, September 15th. SpartanNash’s dividend payout ratio (DPR) is presently -183.33%.

Analysts Set New Price Targets

Separately, Zacks Research upgraded shares of SpartanNash from a “strong sell” rating to a “hold” rating in a report on Monday, August 18th. Three investment analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $18.45.

About SpartanNash

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.