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 research note issued to investors on Friday.

A number of other analysts have also issued reports on the company. BMO Capital Markets dropped their target price on SpartanNash from $23.00 to $22.00 and set a market perform rating on the stock in a research report on Friday, November 10th. TheStreet lowered SpartanNash from a b rating to a c+ rating in a research report on Wednesday, November 8th. Two research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of Moderate Buy and an average price target of $26.00.

SpartanNash Trading Up 0.8 %

NASDAQ:SPTN opened at $22.04 on Friday. The business’s 50-day moving average is $22.33 and its two-hundred day moving average is $22.41. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.59 and a quick ratio of 0.75. SpartanNash has a 12 month low of $20.51 and a 12 month high of $34.99. The firm has a market capitalization of $763.02 million, a PE ratio of 18.07, a price-to-earnings-growth ratio of 2.64 and a beta of 0.64.

SpartanNash (NASDAQ:SPTN) last released its quarterly earnings data on Wednesday, November 8th. The company reported $0.54 EPS for the quarter, missing the consensus estimate of $0.60 by ($0.06). SpartanNash had a net margin of 0.43% and a return on equity of 9.66%. The company had revenue of $2.26 billion during the quarter, compared to analysts’ expectations of $2.31 billion. Research analysts predict that SpartanNash will post 2.21 earnings per share for the current fiscal year.

SpartanNash Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, December 8th will be given a dividend of $0.215 per share. The ex-dividend date is Thursday, December 7th. This represents a $0.86 annualized dividend and a dividend yield of 3.90%. SpartanNash’s dividend payout ratio is presently 70.49%.

Institutional Investors Weigh In On SpartanNash

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Public Employees Retirement System of Ohio bought a new stake in SpartanNash during the second quarter worth approximately $27,000. Gladius Capital Management LP bought a new stake in SpartanNash during the first quarter worth approximately $30,000. Natixis bought a new stake in SpartanNash during the fourth quarter worth approximately $31,000. Ameritas Advisory Services LLC bought a new stake in SpartanNash during the first quarter worth approximately $39,000. Finally, Quarry LP raised its holdings in SpartanNash by 233.3% during the second quarter. Quarry LP now owns 2,033 shares of the company’s stock worth $46,000 after purchasing an additional 1,423 shares in the last quarter. Institutional investors own 81.49% of the company’s stock.

About SpartanNash

SpartanNash Company distributes and retails grocery products. It operates through Wholesale and Retail segments. The Wholesale segment offers grocery products and perishable food products, 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 accounts, food service distributors, e-commerce providers, and corporate owned retail stores.