SpartanNash Co (NASDAQ:SPTN) was the target of a significant growth in short interest in August. As of August 31st, there was short interest totalling 1,139,000 shares, a growth of 83.2% from the July 31st total of 621,700 shares. Based on an average daily volume of 372,900 shares, the short-interest ratio is currently 3.1 days. Approximately 3.3% of the shares of the stock are sold short.
Several institutional investors have recently added to or reduced their stakes in the business. Arizona State Retirement System boosted its position in shares of SpartanNash by 1.6% in the second quarter. Arizona State Retirement System now owns 56,331 shares of the company’s stock worth $657,000 after acquiring an additional 870 shares during the last quarter. Nisa Investment Advisors LLC boosted its holdings in SpartanNash by 31.7% in the second quarter. Nisa Investment Advisors LLC now owns 17,470 shares of the company’s stock worth $204,000 after purchasing an additional 4,200 shares during the period. Comerica Bank boosted its holdings in SpartanNash by 8.8% in the second quarter. Comerica Bank now owns 112,998 shares of the company’s stock worth $1,324,000 after purchasing an additional 9,150 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in SpartanNash by 139.9% in the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 63,050 shares of the company’s stock worth $736,000 after purchasing an additional 36,772 shares during the period. Finally, AE Wealth Management LLC acquired a new position in SpartanNash in the second quarter worth $388,000. 84.24% of the stock is currently owned by institutional investors.
Shares of SPTN stock traded up $0.08 during trading hours on Friday, hitting $12.07. 1,523 shares of the company’s stock traded hands, compared to its average volume of 437,557. The stock’s fifty day simple moving average is $10.81 and its two-hundred day simple moving average is $13.59. SpartanNash has a 12-month low of $8.82 and a 12-month high of $23.00. The stock has a market cap of $423.30 million, a price-to-earnings ratio of 6.42, a PEG ratio of 1.29 and a beta of 1.39. The company has a quick ratio of 0.75, a current ratio of 1.76 and a debt-to-equity ratio of 1.40.
SpartanNash (NASDAQ:SPTN) last issued its earnings results on Wednesday, August 14th. The company reported $0.34 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.34. The business had revenue of $2 billion for the quarter, compared to the consensus estimate of $2.01 billion. SpartanNash had a net margin of 0.05% and a return on equity of 7.07%. The company’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.56 EPS. On average, equities analysts forecast that SpartanNash will post 1.29 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be paid a dividend of $0.19 per share. The ex-dividend date is Friday, September 13th. This represents a $0.76 annualized dividend and a dividend yield of 6.30%. SpartanNash’s dividend payout ratio is currently 40.64%.
A number of equities research analysts have weighed in on the company. Barclays lowered their price target on SpartanNash from $13.00 to $8.00 and set an “underweight” rating on the stock in a research report on Tuesday, August 13th. BidaskClub lowered shares of SpartanNash from a “sell” rating to a “strong sell” rating in a report on Wednesday, September 4th. ValuEngine upgraded shares of SpartanNash from a “sell” rating to a “hold” rating in a report on Wednesday. TheStreet lowered shares of SpartanNash from a “c” rating to a “d+” rating in a report on Wednesday, August 14th. Finally, Loop Capital initiated coverage on shares of SpartanNash in a report on Tuesday, June 25th. They set a “buy” rating and a $15.00 target price for the company. Three equities research analysts have rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $13.00.
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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