Principal Financial Group Inc. lowered its position in shares of SpartanNash Co (NASDAQ:SPTN) by 4.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 291,065 shares of the company’s stock after selling 14,542 shares during the quarter. Principal Financial Group Inc. owned about 0.78% of SpartanNash worth $7,675,000 at the end of the most recent quarter.
Other institutional investors have also recently made changes to their positions in the company. Victory Capital Management Inc. lifted its position in SpartanNash by 17.7% during the second quarter. Victory Capital Management Inc. now owns 4,689 shares of the company’s stock valued at $122,000 after buying an additional 704 shares during the period. Sei Investments Co. purchased a new position in shares of SpartanNash in the 2nd quarter worth about $127,000. Piedmont Investment Advisors LLC purchased a new position in shares of SpartanNash in the 2nd quarter worth about $212,000. Suntrust Banks Inc. raised its position in shares of SpartanNash by 1.8% in the 2nd quarter. Suntrust Banks Inc. now owns 10,259 shares of the company’s stock worth $266,000 after purchasing an additional 183 shares during the last quarter. Finally, Petrus Trust Company LTA purchased a new position in shares of SpartanNash in the 2nd quarter worth about $267,000. 86.05% of the stock is owned by institutional investors and hedge funds.
Several equities analysts have recently issued reports on the company. BidaskClub raised SpartanNash from a “sell” rating to a “hold” rating in a research report on Saturday, December 2nd. Barclays lowered their price target on SpartanNash from $28.00 to $22.00 and set an “equal weight” rating for the company in a research report on Friday, November 10th. TheStreet lowered SpartanNash from a “b-” rating to a “c-” rating in a research report on Wednesday, November 8th. Pivotal Research reissued a “sell” rating and issued a $18.00 target price on shares of SpartanNash in a research report on Wednesday, November 8th. Finally, Jefferies Group reissued a “hold” rating and issued a $25.00 target price on shares of SpartanNash in a research report on Monday, October 16th. Two investment analysts have rated the stock with a sell rating and six have issued a hold rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $23.20.
SpartanNash (NASDAQ:SPTN) last released its quarterly earnings results on Wednesday, November 8th. The company reported $0.54 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.54. The business had revenue of $1.91 billion during the quarter, compared to the consensus estimate of $1.90 billion. SpartanNash had a positive return on equity of 10.35% and a negative net margin of 0.93%. The business’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.53 EPS. equities research analysts forecast that SpartanNash Co will post 2.11 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, December 29th. Investors of record on Friday, December 8th were paid a dividend of $0.165 per share. The ex-dividend date was Thursday, December 7th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 2.47%. SpartanNash’s dividend payout ratio (DPR) is presently -32.67%.
SpartanNash declared that its Board of Directors has initiated a share buyback plan on Thursday, November 16th that authorizes the company to buyback $50.00 million in shares. This buyback authorization authorizes the company to purchase shares of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its stock is undervalued.
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SpartanNash Company is a multi-regional grocery distributor and grocery retailer. The Company’s core businesses include distributing grocery products to independent grocery retailers (independent retailers), select national retailers, its corporate owned retail stores, and the United States military commissaries.
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