SpartanNash (NASDAQ:SPTN) Stock Price Up 9.8% Following Strong Earnings

SpartanNash (NASDAQ:SPTN - Get Free Report)'s stock price rose 9.8% during mid-day trading on Wednesday following a better than expected earnings announcement. The stock traded as high as $20.88 and last traded at $20.67. Approximately 102,297 shares changed hands during mid-day trading, a decline of 57% from the average daily volume of 239,117 shares. The stock had previously closed at $18.83.

The company reported $0.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.33 by $0.09. SpartanNash had a net margin of 0.48% and a return on equity of 8.57%. During the same quarter last year, the company posted $0.35 earnings per share.

SpartanNash Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 30th. Stockholders of record on Monday, December 9th were paid a dividend of $0.2175 per share. This represents a $0.87 annualized dividend and a dividend yield of 4.28%. The ex-dividend date of this dividend was Monday, December 9th. SpartanNash's dividend payout ratio (DPR) is 65.41%.

Wall Street Analyst Weigh In

Separately, StockNews.com downgraded shares of SpartanNash from a "buy" rating to a "hold" rating in a research note on Thursday, January 30th.

Institutional Trading of SpartanNash

Several institutional investors and hedge funds have recently modified their holdings of the stock. Barclays PLC grew its stake in shares of SpartanNash by 120.0% during the third quarter. Barclays PLC now owns 86,412 shares of the company's stock worth $1,936,000 after acquiring an additional 47,141 shares during the last quarter. Stifel Financial Corp grew its holdings in shares of SpartanNash by 14.7% during the 3rd quarter. Stifel Financial Corp now owns 47,240 shares of the company's stock worth $1,059,000 after purchasing an additional 6,058 shares during the period. JPMorgan Chase & Co. boosted its holdings in 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 acquiring an additional 42,719 shares during the period. Verition Fund Management LLC acquired a new stake in SpartanNash in the 3rd quarter valued at about $244,000. Finally, Harbor Capital Advisors Inc. raised its position 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 in the last quarter. Institutional investors own 84.59% of the company's stock.

SpartanNash Stock Down 2.3 %

The firm has a market cap of $686.34 million, a price-to-earnings ratio of 15.29 and a beta of 0.34. The firm has a 50-day moving average price of $18.61 and a two-hundred day moving average price of $20.00. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.83 and a current ratio of 1.62.

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.