Inspire Investing LLC Lowers Holdings in SpartanNash Company $SPTN

Inspire Investing LLC trimmed its holdings in SpartanNash Company (NASDAQ:SPTN) by 13.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,732 shares of the company’s stock after selling 2,218 shares during the period. Inspire Investing LLC’s holdings in SpartanNash were worth $390,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also made changes to their positions in the company. AlphaQuest LLC purchased a new position in shares of SpartanNash in the first quarter valued at about $153,000. Appleton Partners Inc. MA purchased a new position in shares of SpartanNash in the second quarter valued at about $212,000. GAMMA Investing LLC lifted its position in shares of SpartanNash by 8.5% in the first quarter. GAMMA Investing LLC now owns 8,097 shares of the company’s stock valued at $164,000 after acquiring an additional 636 shares in the last quarter. Wealth Enhancement Advisory Services LLC purchased a new position in shares of SpartanNash in the second quarter valued at about $251,000. Finally, Maryland State Retirement & Pension System purchased a new position in shares of SpartanNash in the second quarter valued at about $261,000. 84.59% of the stock is currently owned by hedge funds and other institutional investors.

SpartanNash Stock Performance

NASDAQ SPTN opened at $26.90 on Wednesday. The stock has a market capitalization of $910.78 million, a PE ratio of -56.04 and a beta of 0.50. The business has a 50 day simple moving average of $26.73 and a two-hundred day simple moving average of $23.49. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.57 and a quick ratio of 0.80. SpartanNash Company has a 1-year low of $17.30 and a 1-year high of $27.07.

SpartanNash (NASDAQ:SPTN) last released its quarterly earnings results on Thursday, August 14th. The company reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.04. SpartanNash had a positive return on equity of 8.19% and a negative net margin of 0.16%.The business had revenue of $2.27 billion during the quarter, compared to analysts’ expectations of $2.29 billion. During the same quarter last year, the business posted $0.59 EPS. The firm’s revenue for the quarter was up 1.8% compared to the same quarter last year. On average, research analysts predict that SpartanNash Company will post 1.79 EPS for the current fiscal year.

SpartanNash Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th were paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 3.3%. The ex-dividend date of this dividend was Monday, September 15th. SpartanNash’s payout ratio is presently -183.33%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. Zacks Research upgraded SpartanNash from a “strong sell” rating to a “hold” rating in a research report on Monday, August 18th. BMO Capital Markets reissued a “market perform” rating and set a $26.90 price target (up from $20.00) on shares of SpartanNash in a research note on Tuesday, June 24th. Three analysts have rated the stock with a Hold rating, Based on data from MarketBeat, SpartanNash currently has an average rating of “Hold” and a consensus target price of $18.45.

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.