StockNews.com Downgrades SpartanNash (NASDAQ:SPTN) to Hold

SpartanNash (NASDAQ:SPTN) was downgraded by equities research analysts at StockNews.com from a “buy” rating to a “hold” rating in a note issued to investors on Thursday.

SpartanNash Price Performance

Shares of NASDAQ SPTN opened at $18.23 on Thursday. SpartanNash has a twelve month low of $17.30 and a twelve month high of $23.00. The company has a current ratio of 1.62, a quick ratio of 0.83 and a debt-to-equity ratio of 0.80. The firm has a 50-day moving average of $18.56 and a two-hundred day moving average of $20.07. The company has a market capitalization of $615.44 million, a price-to-earnings ratio of 13.71 and a beta of 0.35.

SpartanNash (NASDAQ:SPTN) last released its earnings results on Thursday, November 7th. The company reported $0.48 EPS for the quarter, beating the consensus estimate of $0.47 by $0.01. The business had revenue of $2.25 billion during the quarter, compared to analyst estimates of $2.24 billion. SpartanNash had a net margin of 0.48% and a return on equity of 8.57%. The business’s quarterly revenue was down .6% on a year-over-year basis. During the same period in the prior year, the business earned $0.54 earnings per share. As a group, analysts expect that SpartanNash will post 1.88 earnings per share for the current fiscal year.

Hedge Funds Weigh In On SpartanNash

A number of institutional investors have recently bought and sold shares of the stock. US Bancorp DE boosted its holdings in shares of SpartanNash by 3.6% in the third quarter. US Bancorp DE now owns 16,816 shares of the company’s stock worth $377,000 after buying an additional 587 shares during the period. Creative Planning boosted its stake in SpartanNash by 5.7% in the 3rd quarter. Creative Planning now owns 13,165 shares of the company’s stock worth $295,000 after purchasing an additional 708 shares during the period. Signaturefd LLC grew its position in SpartanNash by 64.9% during the 3rd quarter. Signaturefd LLC now owns 1,801 shares of the company’s stock worth $40,000 after purchasing an additional 709 shares in the last quarter. Yousif Capital Management LLC raised its stake in SpartanNash by 5.9% during the 4th quarter. Yousif Capital Management LLC now owns 13,696 shares of the company’s stock valued at $251,000 after purchasing an additional 768 shares during the period. Finally, Martingale Asset Management L P lifted its holdings in shares of SpartanNash by 2.2% in the third quarter. Martingale Asset Management L P now owns 48,114 shares of the company’s stock valued at $1,078,000 after purchasing an additional 1,040 shares in the last quarter. Hedge funds and other institutional investors own 84.59% of the company’s stock.

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.