Martin & Co. Inc. TN Reduces Position in SpartanNash (NASDAQ:SPTN)

Martin & Co. Inc. TN cut its position in SpartanNash (NASDAQ:SPTN) by 6.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 61,106 shares of the company’s stock after selling 4,466 shares during the period. Martin & Co. Inc. TN owned 0.18% of SpartanNash worth $1,119,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of the company. Dean Investment Associates LLC increased its position in shares of SpartanNash by 54.2% in the 3rd quarter. Dean Investment Associates LLC now owns 188,335 shares of the company’s stock valued at $4,221,000 after purchasing an additional 66,178 shares during the last quarter. Foundry Partners LLC increased its position in shares of SpartanNash by 16.5% in the 3rd quarter. Foundry Partners LLC now owns 186,680 shares of the company’s stock valued at $4,183,000 after purchasing an additional 26,375 shares during the last quarter. Empowered Funds LLC increased its position in shares of SpartanNash by 5.1% in the 4th quarter. Empowered Funds LLC now owns 178,347 shares of the company’s stock valued at $3,267,000 after purchasing an additional 8,652 shares during the last quarter. Principal Financial Group Inc. increased its position in shares of SpartanNash by 2.9% in the 4th quarter. Principal Financial Group Inc. now owns 163,673 shares of the company’s stock valued at $2,998,000 after purchasing an additional 4,596 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in shares of SpartanNash by 71.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 102,486 shares of the company’s stock valued at $2,297,000 after buying an additional 42,719 shares in the last quarter. 84.59% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, StockNews.com cut shares of SpartanNash from a “buy” rating to a “hold” rating in a report on Thursday, January 30th.

SpartanNash Stock Down 2.3 %

Shares of NASDAQ:SPTN opened at $20.33 on Monday. The stock has a market cap of $686.34 million, a P/E ratio of 15.29 and a beta of 0.34. The firm has a fifty day moving average price of $18.61 and a 200 day moving average price of $19.99. 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 has a 1-year low of $17.30 and a 1-year high of $23.00.

SpartanNash (NASDAQ:SPTN) last issued its quarterly earnings results on Wednesday, February 12th. The company reported $0.42 earnings per share for the quarter, topping analysts’ consensus estimates 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 in the previous year, the company posted $0.35 earnings per share. Sell-side analysts predict that SpartanNash will post 1.88 EPS for the current year.

SpartanNash Cuts Dividend

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

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.