Summit Global Investments Sells 12,328 Shares of SpartanNash (NASDAQ:SPTN)

Summit Global Investments lessened its stake in shares of SpartanNash (NASDAQ:SPTN) by 20.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 48,162 shares of the company’s stock after selling 12,328 shares during the period. Summit Global Investments owned approximately 0.14% of SpartanNash worth $1,105,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the stock. Smith Graham & Co. Investment Advisors LP bought a new position in shares of SpartanNash during the third quarter valued at $5,159,000. Assenagon Asset Management S.A. raised its holdings in SpartanNash by 89.2% in the fourth quarter. Assenagon Asset Management S.A. now owns 446,278 shares of the company’s stock worth $10,242,000 after buying an additional 210,454 shares during the last quarter. Jacobs Levy Equity Management Inc. lifted its stake in shares of SpartanNash by 348.8% in the third quarter. Jacobs Levy Equity Management Inc. now owns 224,350 shares of the company’s stock worth $4,936,000 after buying an additional 174,366 shares in the last quarter. Phocas Financial Corp. grew its holdings in shares of SpartanNash by 162.4% during the fourth quarter. Phocas Financial Corp. now owns 241,986 shares of the company’s stock valued at $5,554,000 after buying an additional 149,750 shares during the last quarter. Finally, Invesco Ltd. increased its position in shares of SpartanNash by 21.8% during the third quarter. Invesco Ltd. now owns 832,250 shares of the company’s stock valued at $18,310,000 after acquiring an additional 149,078 shares in the last quarter. Hedge funds and other institutional investors own 84.59% of the company’s stock.

Insider Buying and Selling

In other SpartanNash news, Director William R. Voss sold 16,439 shares of SpartanNash stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $19.84, for a total transaction of $326,149.76. Following the transaction, the director now owns 15,248 shares of the company’s stock, valued at $302,520.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.40% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on SPTN shares. TheStreet raised shares of SpartanNash from a “c+” rating to a “b” rating in a report on Thursday, February 15th. StockNews.com lowered SpartanNash from a “buy” rating to a “hold” rating in a report on Monday, February 19th.

SpartanNash Stock Performance

Shares of SPTN traded up $0.11 on Friday, reaching $19.64. The company’s stock had a trading volume of 158,684 shares, compared to its average volume of 235,431. SpartanNash has a 12-month low of $18.57 and a 12-month high of $24.51. The stock has a market capitalization of $676.99 million, a P/E ratio of 13.09 and a beta of 0.53. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.63 and a quick ratio of 0.76. The stock’s 50 day simple moving average is $19.76 and its two-hundred day simple moving average is $21.58.

SpartanNash (NASDAQ:SPTN) last issued its quarterly earnings data on Thursday, February 15th. The company reported $0.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.03). The business had revenue of $2.25 billion for the quarter, compared to the consensus estimate of $2.27 billion. SpartanNash had a net margin of 0.54% and a return on equity of 9.86%. The company’s revenue was down 2.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.28 EPS. Research analysts forecast that SpartanNash will post 1.93 earnings per share for the current fiscal year.

SpartanNash Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 14th were paid a dividend of $0.2175 per share. The ex-dividend date was Wednesday, March 13th. This is an increase from SpartanNash’s previous quarterly dividend of $0.14. This represents a $0.87 dividend on an annualized basis and a dividend yield of 4.43%. SpartanNash’s payout ratio is 58.00%.

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.