SpartanNash (NASDAQ:SPTN) Trading 9.8% Higher After Better-Than-Expected Earnings

SpartanNash (NASDAQ:SPTN)’s share price was up 9.8% on Wednesday following a better than expected earnings announcement. The stock traded as high as $20.88 and last traded at $20.67. Approximately 102,297 shares were traded during mid-day trading, a decline of 57% from the average daily volume of 239,117 shares. The stock had previously closed at $18.83.

The company reported $0.42 earnings per share for the quarter, beating analysts’ consensus estimates of $0.33 by $0.09. SpartanNash had a return on equity of 8.57% and a net margin of 0.48%.

SpartanNash Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 30th. Investors of record on Monday, December 9th were given a dividend of $0.2175 per share. The ex-dividend date of this dividend was Monday, December 9th. This represents a $0.87 annualized dividend and a dividend yield of 4.25%. SpartanNash’s dividend payout ratio is currently 65.41%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded SpartanNash from a “buy” rating to a “hold” rating in a research report on Thursday, January 30th.

Hedge Funds Weigh In On SpartanNash

Institutional investors and hedge funds have recently bought and sold shares of the company. Nisa Investment Advisors LLC increased its holdings in SpartanNash by 3,585.1% in the 4th quarter. Nisa Investment Advisors LLC now owns 1,732 shares of the company’s stock worth $32,000 after purchasing an additional 1,685 shares in the last quarter. Signaturefd LLC increased its holdings in SpartanNash by 64.9% in the 3rd quarter. Signaturefd LLC now owns 1,801 shares of the company’s stock worth $40,000 after purchasing an additional 709 shares in the last quarter. GAMMA Investing LLC increased its holdings in SpartanNash by 64.7% in the 3rd quarter. GAMMA Investing LLC now owns 3,920 shares of the company’s stock worth $88,000 after purchasing an additional 1,540 shares in the last quarter. KLP Kapitalforvaltning AS acquired a new position in SpartanNash in the 4th quarter worth about $132,000. Finally, Blue Trust Inc. increased its stake in shares of SpartanNash by 308.8% in the third quarter. Blue Trust Inc. now owns 7,531 shares of the company’s stock valued at $169,000 after buying an additional 5,689 shares during the period. Institutional investors and hedge funds own 84.59% of the company’s stock.

SpartanNash Trading Up 8.7 %

The company has a market cap of $690.93 million, a price-to-earnings ratio of 15.46 and a beta of 0.34. The firm has a 50 day moving average price of $18.51 and a two-hundred day moving average price of $20.01. The company has a quick ratio of 0.83, a current ratio of 1.62 and a debt-to-equity ratio of 0.80.

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.