Hennion & Walsh Asset Management Inc. Sells 789 Shares of SpartanNash (NASDAQ:SPTN)

Hennion & Walsh Asset Management Inc. trimmed its holdings in shares of SpartanNash (NASDAQ:SPTN) by 4.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,805 shares of the company’s stock after selling 789 shares during the period. Hennion & Walsh Asset Management Inc.’s holdings in SpartanNash were worth $340,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of SPTN. Parallel Advisors LLC raised its position in shares of SpartanNash by 58.3% during the 4th quarter. Parallel Advisors LLC now owns 1,255 shares of the company’s stock valued at $29,000 after acquiring an additional 462 shares during the last quarter. AJOVista LLC acquired a new stake in shares of SpartanNash during the fourth quarter worth $68,000. Nisa Investment Advisors LLC increased its holdings in SpartanNash by 78.4% in the fourth quarter. Nisa Investment Advisors LLC now owns 3,032 shares of the company’s stock valued at $70,000 after purchasing an additional 1,332 shares during the last quarter. PNC Financial Services Group Inc. lifted its stake in SpartanNash by 132.9% in the third quarter. PNC Financial Services Group Inc. now owns 7,868 shares of the company’s stock valued at $173,000 after buying an additional 4,490 shares during the period. Finally, Quest Partners LLC bought a new position in SpartanNash during the fourth quarter worth about $221,000. 84.59% of the stock is currently owned by institutional investors and hedge funds.

SpartanNash Price Performance

Shares of SPTN stock opened at $18.05 on Thursday. SpartanNash has a 12-month low of $17.97 and a 12-month high of $24.51. The firm has a market capitalization of $611.75 million, a price-to-earnings ratio of 11.65 and a beta of 0.41. The company has a quick ratio of 0.84, a current ratio of 1.75 and a debt-to-equity ratio of 0.78. The firm has a fifty day moving average of $19.53 and a 200-day moving average of $20.67.

SpartanNash (NASDAQ:SPTN) last posted its earnings results on Thursday, May 30th. The company reported $0.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.52 by $0.01. The firm had revenue of $2.81 billion during the quarter, compared to analysts’ expectations of $2.86 billion. SpartanNash had a return on equity of 9.22% and a net margin of 0.56%. The company’s revenue was down 3.6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.64 earnings per share. On average, equities research analysts forecast that SpartanNash will post 1.96 earnings per share for the current year.

SpartanNash Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 14th were paid a $0.218 dividend. The ex-dividend date of this dividend was Friday, June 14th. This represents a $0.87 dividend on an annualized basis and a yield of 4.83%. This is a positive change from SpartanNash’s previous quarterly dividend of $0.22. SpartanNash’s payout ratio is presently 56.13%.

Analyst Ratings Changes

Separately, BMO Capital Markets lowered their price target on SpartanNash from $22.00 to $20.00 and set a “market perform” rating for the company in a research note on Friday, May 31st.

SpartanNash 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.