Burney Co. Raises Position in SpartanNash (NASDAQ:SPTN)

Burney Co. boosted its position in SpartanNash (NASDAQ:SPTN) by 4.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 65,140 shares of the company’s stock after purchasing an additional 2,599 shares during the period. Burney Co.’s holdings in SpartanNash were worth $1,193,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Commonwealth Equity Services LLC lifted its position in shares of SpartanNash by 17.6% during the 2nd quarter. Commonwealth Equity Services LLC now owns 39,177 shares of the company’s stock valued at $735,000 after buying an additional 5,854 shares during the last quarter. Texas Permanent School Fund Corp raised its stake in SpartanNash by 28.1% in the 2nd quarter. Texas Permanent School Fund Corp now owns 38,559 shares of the company’s stock valued at $723,000 after acquiring an additional 8,461 shares during the period. American Century Companies Inc. lifted its holdings in SpartanNash by 20.0% during the second quarter. American Century Companies Inc. now owns 744,282 shares of the company’s stock valued at $13,963,000 after purchasing an additional 123,952 shares during the last quarter. MQS Management LLC bought a new position in SpartanNash during the second quarter worth about $353,000. Finally, Inspire Investing LLC increased its stake in shares of SpartanNash by 6.1% in the second quarter. Inspire Investing LLC now owns 18,792 shares of the company’s stock worth $353,000 after purchasing an additional 1,082 shares in the last quarter. 84.59% of the stock is owned by institutional investors.

Analyst Ratings Changes

Separately, StockNews.com upgraded shares of SpartanNash from a “hold” rating to a “buy” rating in a research note on Tuesday.

SpartanNash Stock Performance

Shares of SPTN opened at $18.21 on Friday. SpartanNash has a 52-week low of $17.30 and a 52-week high of $23.00. The stock’s 50-day simple moving average is $18.62 and its 200 day simple moving average is $20.08. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.83 and a current ratio of 1.62. The stock has a market capitalization of $614.77 million, a price-to-earnings ratio of 13.69 and a beta of 0.35.

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

SpartanNash Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 30th. Shareholders of record on Monday, December 9th were issued a $0.2175 dividend. This represents a $0.87 annualized dividend and a yield of 4.78%. The ex-dividend date was Monday, December 9th. SpartanNash’s payout ratio is 65.41%.

About SpartanNash

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.