SpartanNash (NASDAQ:SPTN) Sets New 12-Month Low - What's Next?

Shares of SpartanNash (NASDAQ:SPTN - Get Free Report) reached a new 52-week low on Wednesday . The company traded as low as $17.71 and last traded at $17.86, with a volume of 61937 shares changing hands. The stock had previously closed at $18.02.

Analyst Upgrades and Downgrades

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

SpartanNash Price Performance

The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.83 and a current ratio of 1.62. The stock has a market capitalization of $609.28 million, a PE ratio of 13.57 and a beta of 0.35. The business's 50-day moving average price is $19.09 and its 200 day moving average price is $20.14.

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

SpartanNash Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 30th. Stockholders of record on Monday, December 9th were issued a $0.2175 dividend. This represents a $0.87 dividend on an annualized basis and a dividend yield of 4.82%. The ex-dividend date was Monday, December 9th. SpartanNash's payout ratio is 65.41%.

Hedge Funds Weigh In On SpartanNash

Several institutional investors have recently modified their holdings of SPTN. GAMMA Investing LLC grew its position in SpartanNash by 90.3% during the fourth quarter. GAMMA Investing LLC now owns 7,461 shares of the company's stock valued at $137,000 after acquiring an additional 3,541 shares during the last quarter. JPMorgan Chase & Co. raised its position in SpartanNash by 71.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 102,486 shares of the company's stock worth $2,297,000 after purchasing an additional 42,719 shares during the period. Franklin Resources Inc. bought a new stake in SpartanNash in the third quarter worth $211,000. Barclays PLC boosted its position in SpartanNash by 120.0% during the third quarter. Barclays PLC now owns 86,412 shares of the company's stock valued at $1,936,000 after buying an additional 47,141 shares during the period. Finally, Dean Investment Associates LLC grew its stake in shares of SpartanNash by 54.2% during the third quarter. Dean Investment Associates LLC now owns 188,335 shares of the company's stock valued at $4,221,000 after buying an additional 66,178 shares during the last quarter. 84.59% of the stock is currently owned by institutional investors.

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.