Barrow Hanley Mewhinney & Strauss LLC purchased a new stake in SpartanNash Co (NASDAQ:SPTN) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 118,201 shares of the company’s stock, valued at approximately $2,030,000. Barrow Hanley Mewhinney & Strauss LLC owned about 0.33% of SpartanNash as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds also recently made changes to their positions in SPTN. Thrivent Financial for Lutherans lifted its position in shares of SpartanNash by 0.5% during the fourth quarter. Thrivent Financial for Lutherans now owns 113,666 shares of the company’s stock valued at $1,952,000 after purchasing an additional 564 shares in the last quarter. Municipal Employees Retirement System of Michigan bought a new position in shares of SpartanNash during the fourth quarter valued at about $179,000. Metropolitan Life Insurance Co. NY lifted its position in shares of SpartanNash by 369.2% during the fourth quarter. Metropolitan Life Insurance Co. NY now owns 12,879 shares of the company’s stock valued at $221,000 after purchasing an additional 10,134 shares in the last quarter. Squarepoint Ops LLC bought a new position in shares of SpartanNash during the fourth quarter valued at about $262,000. Finally, Bank of America Corp DE lifted its position in shares of SpartanNash by 203.4% during the fourth quarter. Bank of America Corp DE now owns 63,731 shares of the company’s stock valued at $1,094,000 after purchasing an additional 42,722 shares in the last quarter. Institutional investors and hedge funds own 86.67% of the company’s stock.
NASDAQ:SPTN traded down $0.07 during mid-day trading on Friday, hitting $17.02. 158,553 shares of the stock traded hands, compared to its average volume of 179,005. SpartanNash Co has a 12-month low of $15.30 and a 12-month high of $26.99. The stock has a market cap of $611.90 million, a P/E ratio of 9.10, a P/E/G ratio of 1.93 and a beta of 1.20. The company has a current ratio of 2.10, a quick ratio of 0.94 and a debt-to-equity ratio of 0.95.
The business also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were given a dividend of $0.19 per share. The ex-dividend date was Thursday, March 14th. This is a positive change from SpartanNash’s previous quarterly dividend of $0.18. This represents a $0.76 annualized dividend and a yield of 4.47%. SpartanNash’s payout ratio is presently 40.64%.
A number of research firms recently weighed in on SPTN. Barclays reissued a “hold” rating and set a $20.00 price target on shares of SpartanNash in a research report on Wednesday, January 9th. ValuEngine lowered shares of SpartanNash from a “sell” rating to a “strong sell” rating in a research report on Friday, February 22nd. Pivotal Research reaffirmed a “sell” rating and issued a $12.00 price objective (down previously from $14.00) on shares of SpartanNash in a research report on Thursday, February 21st. Zacks Investment Research raised shares of SpartanNash from a “sell” rating to a “hold” rating in a research report on Wednesday, January 9th. Finally, Royal Bank of Canada started coverage on shares of SpartanNash in a research report on Thursday, January 10th. They issued an “outperform” rating and a $25.00 price objective on the stock. Three research analysts have rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company. SpartanNash presently has a consensus rating of “Hold” and a consensus price target of $21.33.
In other news, Director Yvonne R. Jackson sold 1,800 shares of the business’s stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $18.33, for a total value of $32,994.00. Following the completion of the sale, the director now directly owns 33,081 shares in the company, valued at approximately $606,374.73. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Elizabeth A. Nickels sold 4,676 shares of the business’s stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $17.45, for a total transaction of $81,596.20. Following the completion of the sale, the director now owns 42,493 shares of the company’s stock, valued at $741,502.85. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 11,152 shares of company stock valued at $188,845. 2.40% of the stock is currently owned by company insiders.
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 retailers, national retailers, food service distributors, e-commerce providers, and corporate owned retail stores.
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