Verition Fund Management LLC Invests $244,000 in SpartanNash (NASDAQ:SPTN)

Verition Fund Management LLC bought a new stake in shares of SpartanNash (NASDAQ:SPTN) in the 3rd quarter, Holdings Channel reports. The institutional investor bought 10,887 shares of the company’s stock, valued at approximately $244,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. nVerses Capital LLC purchased a new position in shares of SpartanNash during the second quarter valued at about $30,000. Canada Pension Plan Investment Board bought a new position in SpartanNash during the second quarter valued at approximately $34,000. Blue Trust Inc. grew its holdings in SpartanNash by 5,317.6% during the 2nd quarter. Blue Trust Inc. now owns 1,842 shares of the company’s stock valued at $37,000 after buying an additional 1,808 shares in the last quarter. Signaturefd LLC increased its stake in SpartanNash by 64.9% in the 3rd quarter. Signaturefd LLC now owns 1,801 shares of the company’s stock worth $40,000 after acquiring an additional 709 shares during the last quarter. Finally, Point72 Hong Kong Ltd purchased a new stake in shares of SpartanNash during the 2nd quarter worth approximately $79,000. 84.59% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Separately, StockNews.com downgraded SpartanNash from a “buy” rating to a “hold” rating in a research report on Friday, November 8th.

SpartanNash Stock Down 0.3 %

Shares of NASDAQ SPTN opened at $19.62 on Monday. The company has a current ratio of 1.62, a quick ratio of 0.83 and a debt-to-equity ratio of 0.80. SpartanNash has a 12-month low of $17.74 and a 12-month high of $24.51. The firm’s 50-day moving average price is $20.07 and its 200-day moving average price is $20.21. The stock has a market capitalization of $662.37 million, a price-to-earnings ratio of 14.75 and a beta of 0.35.

SpartanNash (NASDAQ:SPTN) last issued its quarterly earnings data 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 for the quarter, compared to the consensus estimate of $2.24 billion. SpartanNash had a return on equity of 8.57% and a net margin of 0.48%. The company’s quarterly revenue was down .6% compared to the same quarter last year. During the same period in the prior year, the business posted $0.54 earnings per share. On average, equities research analysts anticipate that SpartanNash will post 1.88 EPS for the current fiscal year.

SpartanNash Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Monday, December 9th will be paid a dividend of $0.2175 per share. This represents a $0.87 annualized dividend and a yield of 4.43%. The ex-dividend date is Monday, December 9th. SpartanNash’s payout ratio is 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.