SpartanNash (NASDAQ:SPTN) Trading Down 4.4% - Time to Sell?

SpartanNash (NASDAQ:SPTN - Get Free Report)'s stock price was down 4.4% during trading on Monday . The stock traded as low as $18.50 and last traded at $18.54. Approximately 224,412 shares traded hands during trading, a decline of 12% from the average daily volume of 253,761 shares. The stock had previously closed at $19.40.

Analysts Set New Price Targets

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

SpartanNash Price Performance

The firm has a market cap of $619.40 million, a P/E ratio of 13.80 and a beta of 0.35. The company has a fifty day moving average of $19.84 and a 200-day moving average of $20.20. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.62 and a quick ratio of 0.83.

SpartanNash (NASDAQ:SPTN - Get Free Report) last posted its earnings results on Thursday, November 7th. The company reported $0.48 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to analyst estimates of $2.24 billion. During the same quarter in the prior year, the business posted $0.54 EPS. The business's revenue was down .6% compared to the same quarter last year. On average, sell-side analysts anticipate that SpartanNash will post 1.88 EPS for the current fiscal year.

SpartanNash Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Monday, December 9th will be issued a $0.2175 dividend. This represents a $0.87 annualized dividend and a dividend yield of 4.74%. The ex-dividend date of this dividend is Monday, December 9th. SpartanNash's dividend payout ratio is presently 65.41%.

Institutional Investors Weigh In On SpartanNash

Several large investors have recently made changes to their positions in SPTN. nVerses Capital LLC bought a new position in SpartanNash during the second quarter valued at about $30,000. Canada Pension Plan Investment Board purchased a new position in SpartanNash in the second quarter valued at about $34,000. Signaturefd LLC grew its position in shares of SpartanNash by 64.9% during the 3rd quarter. Signaturefd LLC now owns 1,801 shares of the company's stock valued at $40,000 after acquiring an additional 709 shares during the period. GAMMA Investing LLC increased its stake in shares of SpartanNash by 64.7% during the 3rd 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 last quarter. Finally, Point72 Hong Kong Ltd bought a new stake in shares of SpartanNash in the 2nd quarter worth approximately $79,000. 84.59% of the stock is owned by hedge funds and other 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.