Palisade Capital Management LLC NJ cut its position in SpartanNash Co (NASDAQ:SPTN) by 0.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 741,357 shares of the company’s stock after selling 6,814 shares during the quarter. Palisade Capital Management LLC NJ owned approximately 2.05% of SpartanNash worth $12,759,000 at the end of the most recent reporting period.
A number of other large investors have also recently bought and sold shares of the stock. BlackRock Inc. grew its stake in SpartanNash by 2.2% in the 4th quarter. BlackRock Inc. now owns 4,781,861 shares of the company’s stock valued at $127,582,000 after buying an additional 102,108 shares during the last quarter. LSV Asset Management grew its stake in SpartanNash by 7.7% in the 1st quarter. LSV Asset Management now owns 1,621,596 shares of the company’s stock valued at $27,907,000 after buying an additional 116,000 shares during the last quarter. Bank of New York Mellon Corp grew its stake in SpartanNash by 1.7% in the 4th quarter. Bank of New York Mellon Corp now owns 1,050,025 shares of the company’s stock valued at $28,014,000 after buying an additional 17,915 shares during the last quarter. Geode Capital Management LLC grew its stake in SpartanNash by 2.3% in the 4th quarter. Geode Capital Management LLC now owns 585,491 shares of the company’s stock valued at $15,620,000 after buying an additional 13,395 shares during the last quarter. Finally, Prudential Financial Inc. grew its stake in SpartanNash by 7.0% in the 1st quarter. Prudential Financial Inc. now owns 569,057 shares of the company’s stock valued at $9,793,000 after buying an additional 37,400 shares during the last quarter. Institutional investors and hedge funds own 83.91% of the company’s stock.
In related news, CFO Mark Shamber bought 5,500 shares of the business’s stock in a transaction dated Friday, March 2nd. The shares were purchased at an average cost of $18.24 per share, with a total value of $100,320.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 2.40% of the company’s stock.
A number of research firms recently issued reports on SPTN. ValuEngine lowered shares of SpartanNash from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd. Pivotal Research reiterated a “sell” rating and issued a $20.00 target price (down from $21.00) on shares of SpartanNash in a research note on Wednesday, February 21st. Deutsche Bank lowered their target price on shares of SpartanNash from $24.00 to $21.00 and set a “hold” rating on the stock in a research note on Thursday, February 22nd. BidaskClub upgraded shares of SpartanNash from a “strong sell” rating to a “sell” rating in a research note on Thursday, May 17th. Finally, Zacks Investment Research upgraded shares of SpartanNash from a “hold” rating to a “buy” rating and set a $21.00 target price on the stock in a research note on Tuesday, May 1st. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $22.00.
Shares of SpartanNash opened at $18.50 on Tuesday, MarketBeat reports. The firm has a market capitalization of $656.91 million, a price-to-earnings ratio of 8.81, a P/E/G ratio of 1.34 and a beta of 1.10. SpartanNash Co has a fifty-two week low of $16.32 and a fifty-two week high of $36.77. The company has a quick ratio of 0.82, a current ratio of 2.03 and a debt-to-equity ratio of 1.03.
SpartanNash (NASDAQ:SPTN) last issued its quarterly earnings results on Wednesday, February 21st. The company reported $0.41 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.42 by ($0.01). SpartanNash had a positive return on equity of 10.08% and a negative net margin of 0.65%. The firm had revenue of $1.92 billion during the quarter, compared to analysts’ expectations of $1.94 billion. During the same period in the previous year, the company earned $0.53 earnings per share. SpartanNash’s revenue for the quarter was up 5.3% on a year-over-year basis. equities research analysts expect that SpartanNash Co will post 2.26 earnings per share for the current fiscal year.
SpartanNash Company distributes and retails grocery products. It operates in three segments: Food Distribution, Military, and Retail. The Food Distribution segment offers approximately 60,000 stock-keeping units, such as 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 pharmacy products to independent retail locations, food service distributors, and corporate-owned retail stores.
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