Bank of New York Mellon Corp Increases Holdings in SpartanNash (NASDAQ:SPTN)

Bank of New York Mellon Corp boosted its stake in SpartanNash (NASDAQ:SPTN - Free Report) by 13.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 481,538 shares of the company's stock after buying an additional 56,677 shares during the quarter. Bank of New York Mellon Corp owned approximately 1.43% of SpartanNash worth $8,822,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. Barclays PLC increased its position in shares of SpartanNash by 120.0% during the 3rd quarter. Barclays PLC now owns 86,412 shares of the company's stock valued at $1,936,000 after purchasing an additional 47,141 shares during the last quarter. Ieq Capital LLC purchased a new stake in shares of SpartanNash during the 4th quarter valued at $231,000. Stifel Financial Corp increased its position in shares of SpartanNash by 14.7% during the 3rd quarter. Stifel Financial Corp now owns 47,240 shares of the company's stock valued at $1,059,000 after purchasing an additional 6,058 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of SpartanNash by 71.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 102,486 shares of the company's stock valued at $2,297,000 after purchasing an additional 42,719 shares during the last quarter. Finally, Harbor Capital Advisors Inc. grew its stake in shares of SpartanNash by 20.2% during the 4th quarter. Harbor Capital Advisors Inc. now owns 20,005 shares of the company's stock worth $366,000 after acquiring an additional 3,356 shares during the period. 84.59% of the stock is owned by hedge funds and other institutional investors.

Remove Ads

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. Northcoast Research downgraded SpartanNash from a "buy" rating to a "neutral" rating and set a $10.00 price target for the company. in a research note on Wednesday, February 19th. StockNews.com downgraded SpartanNash from a "buy" rating to a "hold" rating in a research note on Thursday, January 30th.

SpartanNash Price Performance

NASDAQ SPTN traded up $0.14 during trading hours on Tuesday, hitting $20.37. The company had a trading volume of 294,606 shares, compared to its average volume of 243,867. SpartanNash has a 52 week low of $17.30 and a 52 week high of $23.00. The firm has a 50 day simple moving average of $19.07 and a 200 day simple moving average of $19.90. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.78 and a current ratio of 1.57. The firm has a market capitalization of $687.79 million, a price-to-earnings ratio of -2,037.00 and a beta of 0.34.

SpartanNash (NASDAQ:SPTN - Get Free Report) last released its quarterly earnings results on Wednesday, February 12th. The company reported $0.42 earnings per share for the quarter, beating the consensus estimate of $0.33 by $0.09. During the same period in the previous year, the firm posted $0.35 earnings per share. Equities research analysts expect that SpartanNash will post 1.79 earnings per share for the current year.

SpartanNash Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Friday, March 21st will be issued a $0.22 dividend. The ex-dividend date of this dividend is Friday, March 21st. This represents a $0.88 annualized dividend and a dividend yield of 4.32%. This is a boost from SpartanNash's previous quarterly dividend of $0.22. SpartanNash's dividend payout ratio (DPR) is presently -8,800.00%.

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.