12 Best Dividend Stocks Under $25

9. SpartanNash Company (NASDAQ:SPTN)

Number of Hedge Fund Holders: 14

Share Price as of June 21: $18.56

SpartanNash Company (NASDAQ:SPTN) is next on our list of the best dividend stocks under $25. The Michigan-based grocery store company specializes in food distribution and operates across various segments of the food industry. The company’s first-quarter earnings remained relatively stable, however, its Retail and Wholesale segments reported declines in volume. Its Wholesale segment reported revenue of over $2 billion and its Retail segment generated $792.2 million. The numbers are great and the company expects to see profitability in both these segments by the end of the year. In the first quarter, it continued to demonstrate its ability to perform well despite challenging market conditions and is on track to achieve the $125 to $150 million in gross benefit outlined in its strategic plan by the end of 2024, which is a year ahead of the original schedule.

SpartanNash Company (NASDAQ:SPTN) has previously noted that it is undergoing a transformative change. Although its net margins initially fell, significant efforts were made to improve the situation. This progress is evident in its quarterly sales of over $2.8 billion, growth in positive net earnings, and a stable EBITDA. The company was able to expand its adjusted EBITDA margin during the quarter because of continuous investments in supply chain and merchandising transformations. The adjusted EBITDA stood at $74.9 million.

In addition to reporting strong earnings, SpartanNash Company (NASDAQ:SPTN) is also a reliable stock for income investors. The company has raised its payouts every year since 2011. In the first quarter of 2024, the company’s operating cash flow came in at $36.5 million. During the quarter, it returned over $8 million to shareholders through dividends, which makes SPTN one of the best dividend stocks on our list. The company currently offers a quarterly dividend of $0.2175 per share and has a dividend yield of 4.65%, as of June 21.

According to Insider Monkey’s database of Q1 2024, 14 hedge funds held stakes in SpartanNash Company (NASDAQ:SPTN), compared with 15 in the previous quarter. These stakes are collectively valued at over $40.2 million. Among these hedge funds, D E Shaw was the company’s leading stakeholder in Q1.