SpartanNash (NASDAQ:SPTN) Sets New 1-Year Low - Here's What Happened

SpartanNash (NASDAQ:SPTN - Get Free Report)'s stock price reached a new 52-week low on Tuesday . The stock traded as low as $17.30 and last traded at $17.49, with a volume of 239632 shares trading hands. The stock had previously closed at $17.43.

Analysts Set New Price Targets

Separately, StockNews.com cut shares of SpartanNash from a "buy" rating to a "hold" rating in a research report on Friday, November 8th.

SpartanNash Stock Up 2.0 %

The company has a current ratio of 1.62, a quick ratio of 0.83 and a debt-to-equity ratio of 0.80. The company has a market capitalization of $602.19 million, a P/E ratio of 13.41 and a beta of 0.35. The firm's 50 day moving average price is $18.82 and its two-hundred day moving average price is $20.12.

SpartanNash (NASDAQ:SPTN - Get Free Report) last issued its quarterly earnings results on Thursday, November 7th. The company reported $0.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.47 by $0.01. SpartanNash had a net margin of 0.48% and a return on equity of 8.57%. The firm had revenue of $2.25 billion for the quarter, compared to analyst estimates of $2.24 billion. During the same period in the previous year, the business earned $0.54 EPS. The company's revenue was down .6% compared to the same quarter last year. Equities research analysts forecast that SpartanNash will post 1.88 EPS for the current year.

SpartanNash Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 30th. Shareholders of record on Monday, December 9th were given a dividend of $0.2175 per share. This represents a $0.87 annualized dividend and a dividend yield of 4.88%. The ex-dividend date was Monday, December 9th. SpartanNash's dividend payout ratio (DPR) is 65.41%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Canada Pension Plan Investment Board bought a new position in SpartanNash during the second quarter worth about $34,000. Signaturefd LLC increased its holdings in shares of SpartanNash by 64.9% during the 3rd quarter. Signaturefd LLC now owns 1,801 shares of the company's stock worth $40,000 after acquiring an additional 709 shares during the last quarter. Point72 Hong Kong Ltd bought a new stake in SpartanNash in the 2nd quarter valued at $79,000. GAMMA Investing LLC boosted its position in SpartanNash by 64.7% during the third quarter. GAMMA Investing LLC now owns 3,920 shares of the company's stock worth $88,000 after purchasing an additional 1,540 shares during the period. Finally, Blue Trust Inc. increased its holdings 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 purchasing an additional 5,689 shares during the last quarter. Institutional investors own 84.59% of the company's stock.

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.