SpartanNash Co (NASDAQ:SPTN) was the recipient of a significant decline in short interest in the month of December. As of December 31st, there was short interest totalling 919,100 shares, a decline of 9.9% from the December 15th total of 1,020,000 shares. Currently, 2.6% of the shares of the company are short sold. Based on an average trading volume of 316,000 shares, the days-to-cover ratio is currently 2.9 days.
Several research analysts have recently weighed in on the stock. ValuEngine cut shares of SpartanNash from a “buy” rating to a “hold” rating in a report on Saturday, January 4th. Zacks Investment Research cut shares of SpartanNash from a “hold” rating to a “sell” rating in a report on Tuesday, November 12th. Finally, BidaskClub downgraded shares of SpartanNash from a “buy” rating to a “hold” rating in a research report on Thursday, December 12th. Three research analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $10.00.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Metropolitan Life Insurance Co NY raised its position in SpartanNash by 7.9% in the third quarter. Metropolitan Life Insurance Co NY now owns 12,879 shares of the company’s stock worth $152,000 after acquiring an additional 943 shares during the period. Millennium Management LLC grew its position in shares of SpartanNash by 949.8% during the 3rd quarter. Millennium Management LLC now owns 543,807 shares of the company’s stock valued at $6,433,000 after acquiring an additional 492,007 shares during the period. Man Group plc grew its position in shares of SpartanNash by 531.9% during the 3rd quarter. Man Group plc now owns 144,072 shares of the company’s stock valued at $1,704,000 after acquiring an additional 121,272 shares during the period. Squarepoint Ops LLC grew its position in shares of SpartanNash by 33.2% during the 3rd quarter. Squarepoint Ops LLC now owns 85,064 shares of the company’s stock valued at $1,006,000 after acquiring an additional 21,186 shares during the period. Finally, California State Teachers Retirement System increased its stake in shares of SpartanNash by 4.0% in the 3rd quarter. California State Teachers Retirement System now owns 65,706 shares of the company’s stock worth $777,000 after purchasing an additional 2,544 shares in the last quarter. Institutional investors own 80.95% of the company’s stock.
SPTN stock traded down $0.09 during trading on Tuesday, reaching $13.22. The stock had a trading volume of 152,900 shares, compared to its average volume of 180,044. SpartanNash has a 52 week low of $8.82 and a 52 week high of $22.49. The stock’s 50 day moving average is $13.91 and its two-hundred day moving average is $12.31. The company has a current ratio of 1.72, a quick ratio of 0.74 and a debt-to-equity ratio of 1.39. The firm has a market cap of $484.18 million, a PE ratio of 7.07, a PEG ratio of 1.39 and a beta of 1.41.
SpartanNash (NASDAQ:SPTN) last released its quarterly earnings results on Wednesday, November 6th. The company reported $0.30 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.39 by ($0.09). SpartanNash had a negative net margin of 0.16% and a positive return on equity of 6.18%. The firm had revenue of $2 billion for the quarter, compared to the consensus estimate of $1.99 billion. During the same quarter in the prior year, the firm earned $0.50 earnings per share. The company’s revenue for the quarter was up 6.0% compared to the same quarter last year. On average, research analysts anticipate that SpartanNash will post 1.19 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Tuesday, December 10th were issued a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 5.75%. The ex-dividend date was Monday, December 9th. SpartanNash’s payout ratio is 40.64%.
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 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 retailers, national retailers, food service distributors, e-commerce providers, and corporate owned retail stores.
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