SpartanNash (NASDAQ:SPTN) Downgraded to "Hold" Rating by StockNews.com

SpartanNash (NASDAQ:SPTN - Get Free Report) was downgraded by StockNews.com from a "buy" rating to a "hold" rating in a research note issued on Thursday.

SpartanNash Stock Performance

Shares of SPTN stock traded down $0.01 during mid-day trading on Thursday, hitting $18.45. The stock had a trading volume of 157,192 shares, compared to its average volume of 248,342. SpartanNash has a fifty-two week low of $17.30 and a fifty-two week high of $23.00. The firm has a market cap of $622.87 million, a PE ratio of 13.87 and a beta of 0.35. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.62 and a quick ratio of 0.83. The company's 50-day simple moving average is $18.57 and its 200-day simple moving average is $20.09.

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

Hedge Funds Weigh In On SpartanNash

Several hedge funds have recently added to or reduced their stakes in SPTN. Nisa Investment Advisors LLC grew its holdings in shares of SpartanNash by 3,585.1% during the fourth quarter. Nisa Investment Advisors LLC now owns 1,732 shares of the company's stock worth $32,000 after buying an additional 1,685 shares in the last quarter. Signaturefd LLC lifted its position in SpartanNash by 64.9% during the third quarter. Signaturefd LLC now owns 1,801 shares of the company's stock valued at $40,000 after buying an additional 709 shares in the last quarter. GAMMA Investing LLC lifted its position in SpartanNash by 64.7% during the third quarter. GAMMA Investing LLC now owns 3,920 shares of the company's stock valued at $88,000 after buying an additional 1,540 shares in the last quarter. Blue Trust Inc. lifted its position in SpartanNash by 308.8% during 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 in the last quarter. Finally, Franklin Resources Inc. purchased a new stake in shares of SpartanNash during the third quarter valued at approximately $211,000. 84.59% of the stock is currently owned by hedge funds and other institutional investors.

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.