SpartanNash (NASDAQ:SPTN) Upgraded to “Buy” at StockNews.com

StockNews.com upgraded shares of SpartanNash (NASDAQ:SPTN) from a hold rating to a buy rating in a report issued on Thursday.

Separately, Northcoast Research downgraded shares of SpartanNash from a “buy” rating to a “neutral” rating and set a $10.00 price target on the stock. in a report on Wednesday, February 19th.

SpartanNash Trading Down 1.9 %

Shares of SPTN stock opened at $20.18 on Thursday. The company has a market cap of $681.38 million, a PE ratio of -2,018.00 and a beta of 0.34. SpartanNash has a 1 year low of $17.30 and a 1 year high of $23.00. The stock’s 50 day simple moving average is $19.68 and its two-hundred day simple moving average is $19.73. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.57 and a quick ratio of 0.78.

SpartanNash (NASDAQ:SPTN) last issued its quarterly earnings results on Wednesday, February 12th. The company reported $0.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.33 by $0.09. During the same period in the prior year, the company earned $0.35 earnings per share. Research analysts predict that SpartanNash will post 1.79 earnings per share for the current year.

SpartanNash Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 2nd. Stockholders of record on Friday, March 21st were given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 4.36%. This is an increase from SpartanNash’s previous quarterly dividend of $0.22. The ex-dividend date was Friday, March 21st. SpartanNash’s dividend payout ratio (DPR) is -8,800.00%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in SpartanNash by 4.0% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,198 shares of the company’s stock valued at $352,000 after buying an additional 732 shares during the period. Yousif Capital Management LLC raised its stake in shares of SpartanNash by 5.9% during the fourth quarter. Yousif Capital Management LLC now owns 13,696 shares of the company’s stock valued at $251,000 after acquiring an additional 768 shares in the last quarter. MBM Wealth Consultants LLC boosted its holdings in shares of SpartanNash by 10.1% in the fourth quarter. MBM Wealth Consultants LLC now owns 13,083 shares of the company’s stock valued at $238,000 after purchasing an additional 1,203 shares during the period. BOKF NA grew its stake in SpartanNash by 10.6% in the fourth quarter. BOKF NA now owns 13,394 shares of the company’s stock worth $233,000 after purchasing an additional 1,280 shares in the last quarter. Finally, MetLife Investment Management LLC increased its holdings in SpartanNash by 8.1% during the 4th quarter. MetLife Investment Management LLC now owns 21,097 shares of the company’s stock worth $386,000 after purchasing an additional 1,572 shares during the period. Hedge funds and other institutional investors own 84.59% of the company’s stock.

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.