JPMorgan Chase & Co. lessened its holdings in SpartanNash Company (NASDAQ:SPTN) by 20.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 905,681 shares of the company’s stock after selling 238,795 shares during the quarter. JPMorgan Chase & Co. owned about 2.43% of SpartanNash worth $24,199,000 at the end of the most recent reporting period.
A number of other large investors have also modified their holdings of SPTN. Bank of New York Mellon Corp increased its holdings in SpartanNash by 71.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,000,318 shares of the company’s stock worth $25,968,000 after buying an additional 417,765 shares during the period. Thrivent Financial For Lutherans increased its holdings in SpartanNash by 105.1% in the 2nd quarter. Thrivent Financial For Lutherans now owns 529,376 shares of the company’s stock worth $13,743,000 after buying an additional 271,266 shares during the period. Vanguard Group Inc. increased its holdings in SpartanNash by 8.4% in the 2nd quarter. Vanguard Group Inc. now owns 2,757,235 shares of the company’s stock worth $71,578,000 after buying an additional 212,923 shares during the period. Ameriprise Financial Inc. increased its holdings in SpartanNash by 23.0% in the 3rd quarter. Ameriprise Financial Inc. now owns 519,717 shares of the company’s stock worth $13,706,000 after buying an additional 97,074 shares during the period. Finally, Palisade Capital Management LLC NJ boosted its position in SpartanNash by 10.9% in the 3rd quarter. Palisade Capital Management LLC NJ now owns 751,965 shares of the company’s stock worth $19,829,000 after purchasing an additional 74,046 shares in the last quarter. Institutional investors own 86.09% of the company’s stock.
Several research firms have commented on SPTN. BidaskClub upgraded SpartanNash from a “sell” rating to a “hold” rating in a research report on Saturday, December 2nd. Jefferies Group restated a “hold” rating and issued a $25.00 price objective on shares of SpartanNash in a research report on Monday, October 16th. ValuEngine lowered SpartanNash from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. Deutsche Bank lowered their price objective on SpartanNash from $40.00 to $26.00 and set a “hold” rating on the stock in a research report on Friday, August 18th. Finally, Zacks Investment Research lowered SpartanNash from a “hold” rating to a “sell” rating in a research report on Saturday, August 19th. Two research analysts have rated the stock with a sell rating and six have given a hold rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $23.20.
Shares of SpartanNash Company (NASDAQ SPTN) opened at $25.04 on Friday. The company has a debt-to-equity ratio of 0.92, a current ratio of 1.81 and a quick ratio of 0.74. SpartanNash Company has a 52-week low of $18.56 and a 52-week high of $40.38. The company has a market capitalization of $945.37, a P/E ratio of 11.52, a price-to-earnings-growth ratio of 4.04 and a beta of 1.02.
SpartanNash (NASDAQ:SPTN) last released its quarterly earnings data on Wednesday, November 8th. The company reported $0.54 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.54. SpartanNash had a positive return on equity of 10.35% and a negative net margin of 0.93%. The business had revenue of $1.91 billion for the quarter, compared to analyst estimates of $1.90 billion. During the same quarter in the prior year, the firm posted $0.53 EPS. The business’s quarterly revenue was up 6.1% compared to the same quarter last year. sell-side analysts forecast that SpartanNash Company will post 2.11 earnings per share for the current year.
SpartanNash declared that its Board of Directors has initiated a share repurchase plan on Thursday, November 16th that allows the company to buyback $50.00 million in outstanding shares. This buyback authorization allows the company to buy shares of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, December 8th will be given 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 dividend yield of 2.64%. SpartanNash’s dividend payout ratio (DPR) is -32.67%.
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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