Alambic Investment Management L.P. reduced its stake in SpartanNash Co (NASDAQ:SPTN) by 66.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 24,884 shares of the company’s stock after selling 49,430 shares during the period. Alambic Investment Management L.P. owned approximately 0.07% of SpartanNash worth $428,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds also recently modified their holdings of the company. Gotham Asset Management LLC bought a new stake in shares of SpartanNash in the fourth quarter valued at approximately $246,000. Ladenburg Thalmann Financial Services Inc. boosted its stake in shares of SpartanNash by 754.3% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 9,474 shares of the company’s stock valued at $253,000 after buying an additional 8,365 shares during the period. Aperio Group LLC boosted its stake in shares of SpartanNash by 22.7% in the first quarter. Aperio Group LLC now owns 18,324 shares of the company’s stock valued at $315,000 after buying an additional 3,390 shares during the period. Teacher Retirement System of Texas bought a new stake in shares of SpartanNash in the fourth quarter valued at approximately $334,000. Finally, MetLife Investment Advisors LLC bought a new stake in shares of SpartanNash in the fourth quarter valued at approximately $451,000. Institutional investors and hedge funds own 83.91% of the company’s stock.
In other news, CFO Mark Shamber purchased 5,500 shares of the company’s stock in a transaction dated Friday, March 2nd. The stock was bought at an average cost of $18.24 per share, for a total transaction of $100,320.00. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. 2.40% of the stock is currently owned by corporate insiders.
Several equities research analysts have weighed in on the company. BidaskClub upgraded SpartanNash from a “sell” rating to a “hold” rating in a research note on Wednesday. ValuEngine cut SpartanNash from a “sell” rating to a “strong sell” rating in a research note on Wednesday, May 2nd. Zacks Investment Research upgraded SpartanNash from a “hold” rating to a “buy” rating and set a $21.00 target price for the company in a research note on Tuesday, May 1st. BMO Capital Markets upgraded SpartanNash from a “market perform” rating to an “outperform” rating and cut their target price for the stock from $25.00 to $23.00 in a research note on Friday, March 2nd. They noted that the move was a valuation call. Finally, Deutsche Bank cut their target price on SpartanNash from $24.00 to $21.00 and set a “hold” rating for the company in a research note on Thursday, February 22nd. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $22.00.
SpartanNash opened at $18.84 on Wednesday, according to Marketbeat Ratings. The company has a debt-to-equity ratio of 1.03, a current ratio of 2.03 and a quick ratio of 0.82. SpartanNash Co has a fifty-two week low of $16.32 and a fifty-two week high of $36.71. The firm has a market cap of $656.91 million, a price-to-earnings ratio of 8.97, a price-to-earnings-growth ratio of 1.34 and a beta of 1.10.
SpartanNash (NASDAQ:SPTN) last announced its quarterly earnings results on Wednesday, February 21st. The company reported $0.41 EPS for the quarter, missing the Zacks’ consensus estimate of $0.42 by ($0.01). SpartanNash had a negative net margin of 0.65% and a positive return on equity of 10.08%. The firm had revenue of $1.92 billion during the quarter, compared to the consensus estimate of $1.94 billion. During the same quarter in the previous year, the company posted $0.53 earnings per share. The firm’s revenue was up 5.3% on a year-over-year basis. analysts predict that SpartanNash Co will post 2.26 EPS for the current fiscal year.
SpartanNash Company distributes and retails grocery products. It operates in three segments: Food Distribution, Military, and Retail. The Food Distribution segment offers approximately 60,000 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 retail locations, food service distributors, and corporate-owned retail stores.
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