Martingale Asset Management L P Boosts Stake in SpartanNash (NASDAQ:SPTN)

Martingale Asset Management L P raised its holdings in shares of SpartanNash (NASDAQ:SPTN) by 2.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 48,114 shares of the company’s stock after buying an additional 1,040 shares during the quarter. Martingale Asset Management L P’s holdings in SpartanNash were worth $1,078,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in SPTN. Vanguard Group Inc. grew its position in SpartanNash by 0.7% during the first quarter. Vanguard Group Inc. now owns 3,123,088 shares of the company’s stock worth $63,118,000 after buying an additional 20,262 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of SpartanNash by 9.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 34,123 shares of the company’s stock worth $690,000 after purchasing an additional 2,891 shares in the last quarter. GAMMA Investing LLC boosted its holdings in shares of SpartanNash by 114.4% in the 2nd quarter. GAMMA Investing LLC now owns 2,380 shares of the company’s stock worth $45,000 after purchasing an additional 1,270 shares in the last quarter. CX Institutional boosted its holdings in shares of SpartanNash by 7.7% in the 2nd quarter. CX Institutional now owns 138,395 shares of the company’s stock worth $2,596,000 after purchasing an additional 9,846 shares in the last quarter. Finally, Fiduciary Financial Group LLC purchased a new position in shares of SpartanNash in the 2nd quarter worth about $250,000. 84.59% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, StockNews.com cut SpartanNash from a “buy” rating to a “hold” rating in a report on Friday, November 8th.

SpartanNash Price Performance

SPTN opened at $18.98 on Monday. The stock has a 50-day moving average price of $20.61 and a 200-day moving average price of $20.31. SpartanNash has a 12-month low of $17.74 and a 12-month high of $24.51. The company has a current ratio of 1.62, a quick ratio of 0.83 and a debt-to-equity ratio of 0.80. The stock has a market capitalization of $640.76 million, a P/E ratio of 14.27 and a beta of 0.39.

SpartanNash (NASDAQ:SPTN) last issued its earnings results on Thursday, November 7th. The company reported $0.48 earnings per share for the quarter, beating the consensus estimate of $0.47 by $0.01. The company had revenue of $2.25 billion during the quarter, compared to analysts’ expectations of $2.24 billion. SpartanNash had a return on equity of 8.57% and a net margin of 0.48%. SpartanNash’s quarterly revenue was down .6% compared to the same quarter last year. During the same period in the prior year, the business posted $0.54 EPS. Equities analysts predict that SpartanNash will post 1.88 earnings per share for the current fiscal year.

SpartanNash Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Monday, December 9th will be issued a dividend of $0.2175 per share. This represents a $0.87 annualized dividend and a yield of 4.58%. The ex-dividend date of this dividend is Monday, December 9th. SpartanNash’s dividend payout ratio is presently 65.41%.

SpartanNash Company 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.