New York State Teachers Retirement System Decreases Stock Holdings in SpartanNash Company $SPTN

New York State Teachers Retirement System reduced its stake in shares of SpartanNash Company (NASDAQ:SPTN) by 5.3% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 55,939 shares of the company’s stock after selling 3,160 shares during the quarter. New York State Teachers Retirement System owned approximately 0.17% of SpartanNash worth $1,482,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in SPTN. GAMMA Investing LLC raised its stake in SpartanNash by 8.5% in the first quarter. GAMMA Investing LLC now owns 8,097 shares of the company’s stock valued at $164,000 after buying an additional 636 shares during the last quarter. SG Americas Securities LLC purchased a new stake in SpartanNash in the first quarter valued at about $426,000. State of Alaska Department of Revenue raised its stake in SpartanNash by 7.8% in the second quarter. State of Alaska Department of Revenue now owns 20,162 shares of the company’s stock valued at $533,000 after buying an additional 1,460 shares during the last quarter. New York State Common Retirement Fund raised its stake in SpartanNash by 43.0% in the first quarter. New York State Common Retirement Fund now owns 54,354 shares of the company’s stock valued at $1,101,000 after buying an additional 16,332 shares during the last quarter. Finally, Caxton Associates LLP purchased a new stake in SpartanNash in the first quarter valued at about $502,000. 84.59% of the stock is currently owned by hedge funds and other institutional investors.

SpartanNash Stock Performance

Shares of NASDAQ SPTN opened at $26.90 on Thursday. The company has a 50 day simple moving average of $26.77 and a two-hundred day simple moving average of $23.73. The stock has a market cap of $910.78 million, a price-to-earnings ratio of -56.04 and a beta of 0.50. The company has a current ratio of 1.57, a quick ratio of 0.80 and a debt-to-equity ratio of 0.96. SpartanNash Company has a 12 month low of $17.30 and a 12 month high of $27.07.

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

SpartanNash Dividend Announcement

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

Wall Street Analyst Weigh In

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

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.