Canada Pension Plan Investment Board Purchases New Stake in SpartanNash (NASDAQ:SPTN)

Canada Pension Plan Investment Board purchased a new position in shares of SpartanNash (NASDAQ:SPTN) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 1,800 shares of the company’s stock, valued at approximately $34,000.

A number of other institutional investors also recently made changes to their positions in the business. Parallel Advisors LLC raised its position in shares of SpartanNash by 58.3% during the 4th quarter. Parallel Advisors LLC now owns 1,255 shares of the company’s stock valued at $29,000 after acquiring an additional 462 shares in the last quarter. SummerHaven Investment Management LLC raised its holdings in shares of SpartanNash by 2.2% in the 2nd quarter. SummerHaven Investment Management LLC now owns 34,421 shares of the company’s stock worth $646,000 after purchasing an additional 752 shares in the last quarter. Illinois Municipal Retirement Fund lifted its holdings in shares of SpartanNash by 5.1% during the first quarter. Illinois Municipal Retirement Fund now owns 20,671 shares of the company’s stock valued at $418,000 after purchasing an additional 1,007 shares during the last quarter. Inspire Investing LLC lifted its position in shares of SpartanNash by 6.1% in the 2nd quarter. Inspire Investing LLC now owns 18,792 shares of the company’s stock valued at $353,000 after acquiring an additional 1,082 shares in the last quarter. Finally, Commonwealth Equity Services LLC grew its holdings in shares of SpartanNash by 3.9% during the first quarter. Commonwealth Equity Services LLC now owns 33,323 shares of the company’s stock valued at $673,000 after buying an additional 1,241 shares in the last quarter. 84.59% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded SpartanNash from a “hold” rating to a “buy” rating in a report on Wednesday, September 18th.

SpartanNash Stock Down 0.3 %

SPTN opened at $22.24 on Monday. The firm has a market cap of $750.38 million, a P/E ratio of 14.35 and a beta of 0.39. The business has a 50 day moving average price of $21.16 and a 200 day moving average price of $20.04. SpartanNash has a twelve month low of $17.74 and a twelve month high of $24.51. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.80 and a current ratio of 1.62.

SpartanNash (NASDAQ:SPTN) last announced its quarterly earnings data on Thursday, August 15th. The company reported $0.59 EPS for the quarter, beating analysts’ consensus estimates of $0.56 by $0.03. The business had revenue of $2.23 billion during the quarter, compared to analyst estimates of $2.27 billion. SpartanNash had a net margin of 0.48% and a return on equity of 8.87%. The firm’s revenue for the quarter was down 3.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.65 earnings per share. Research analysts forecast that SpartanNash will post 1.98 EPS for the current year.

SpartanNash Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, October 4th. Investors of record on Monday, September 23rd will be issued a dividend of $0.218 per share. This represents a $0.87 annualized dividend and a yield of 3.92%. The ex-dividend date of this dividend is Monday, September 23rd. SpartanNash’s dividend payout ratio is currently 56.13%.

SpartanNash Profile

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.