SeaCrest Wealth Management LLC purchased a new stake in shares of SpartanNash (NASDAQ:SPTN – Get Rating) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 2,000 shares of the company’s stock, valued at approximately $60,000.
Several other institutional investors also recently bought and sold shares of the stock. Lazard Asset Management LLC purchased a new position in SpartanNash during the second quarter valued at approximately $81,000. Texas Permanent School Fund raised its position in SpartanNash by 2.5% during the second quarter. Texas Permanent School Fund now owns 26,126 shares of the company’s stock valued at $788,000 after acquiring an additional 643 shares in the last quarter. Los Angeles Capital Management LLC raised its position in SpartanNash by 1.7% during the second quarter. Los Angeles Capital Management LLC now owns 19,544 shares of the company’s stock valued at $590,000 after acquiring an additional 334 shares in the last quarter. Jackson Creek Investment Advisors LLC purchased a new position in SpartanNash during the second quarter valued at approximately $988,000. Finally, Janney Montgomery Scott LLC raised its position in SpartanNash by 62.0% during the second quarter. Janney Montgomery Scott LLC now owns 31,566 shares of the company’s stock valued at $960,000 after acquiring an additional 12,081 shares in the last quarter. 87.71% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
Several analysts have commented on SPTN shares. Deutsche Bank Aktiengesellschaft dropped their price objective on SpartanNash from $36.00 to $35.00 and set a “hold” rating on the stock in a report on Monday, November 14th. BMO Capital Markets raised their price objective on SpartanNash from $29.00 to $31.00 and gave the company a “market perform” rating in a report on Friday, August 19th. Finally, StockNews.com lowered SpartanNash from a “buy” rating to a “hold” rating in a report on Monday, November 14th.
SpartanNash Stock Up 0.8 %
SpartanNash (NASDAQ:SPTN – Get Rating) last issued its quarterly earnings results on Thursday, August 18th. The company reported $0.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.58 by $0.08. The firm had revenue of $2.27 billion for the quarter, compared to analyst estimates of $2.13 billion. SpartanNash had a return on equity of 10.26% and a net margin of 0.60%. The business’s revenue was up 7.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.54 earnings per share. Analysts predict that SpartanNash will post 2.36 earnings per share for the current fiscal year.
SpartanNash Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, December 30th. Stockholders of record on Friday, December 9th will be paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.63%. The ex-dividend date of this dividend is Thursday, December 8th. SpartanNash’s dividend payout ratio is presently 54.19%.
Insider Transactions at SpartanNash
In other news, Director Hawthorne L. Proctor sold 4,500 shares of SpartanNash stock in a transaction that occurred on Tuesday, August 23rd. The stock was sold at an average price of $31.27, for a total value of $140,715.00. Following the sale, the director now directly owns 30,708 shares of the company’s stock, valued at $960,239.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.80% of the company’s stock.
SpartanNash Company Profile
SpartanNash Company distributes and retails grocery products. It operates in three segments: Food Distribution, Military, and Retail. The Food Distribution segment offers approximately 65,000 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 retailers, national retailers, food service distributors, e-commerce providers, and corporate owned retail stores.
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