Martingale Asset Management L P reduced its stake in shares of The Simply Good Foods Company (NASDAQ:SMPL – Get Rating) by 4.2% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 9,200 shares of the financial services provider's stock after selling 400 shares during the quarter. Martingale Asset Management L P's holdings in Simply Good Foods were worth $350,000 as of its most recent SEC filing.
A number of other hedge funds also recently modified their holdings of SMPL. Victory Capital Management Inc. increased its holdings in Simply Good Foods by 200.3% in the 1st quarter. Victory Capital Management Inc. now owns 1,737,600 shares of the financial services provider's stock valued at $66,003,000 after buying an additional 1,158,956 shares during the period. Capital World Investors raised its position in Simply Good Foods by 7.5% during the fourth quarter. Capital World Investors now owns 5,324,500 shares of the financial services provider's stock valued at $221,339,000 after purchasing an additional 373,500 shares in the last quarter. Principal Financial Group Inc. lifted its stake in Simply Good Foods by 35.4% during the fourth quarter. Principal Financial Group Inc. now owns 885,840 shares of the financial services provider's stock worth $36,824,000 after purchasing an additional 231,414 shares during the last quarter. Credit Suisse AG boosted its holdings in shares of Simply Good Foods by 236.3% in the 4th quarter. Credit Suisse AG now owns 266,763 shares of the financial services provider's stock valued at $11,089,000 after purchasing an additional 187,447 shares in the last quarter. Finally, SG Capital Management LLC bought a new position in shares of Simply Good Foods in the 1st quarter valued at $6,864,000. Institutional investors own 87.05% of the company's stock.
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Analyst Ratings Changes
SMPL has been the subject of several recent analyst reports. Stephens upgraded Simply Good Foods from an "equal weight" rating to an "overweight" rating and upped their price objective for the stock from $44.00 to $45.00 in a research report on Monday, June 27th. Morgan Stanley dropped their target price on shares of Simply Good Foods from $41.00 to $39.00 and set an "equal weight" rating for the company in a report on Friday, July 1st. The Goldman Sachs Group decreased their price target on shares of Simply Good Foods from $49.00 to $44.00 and set a "buy" rating on the stock in a report on Tuesday, August 16th. Finally, Seaport Res Ptn reiterated a "buy" rating on shares of Simply Good Foods in a research note on Friday, July 8th. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $44.78.
Simply Good Foods Trading Down 2.2 %
Shares of SMPL stock opened at $29.66 on Tuesday. The Simply Good Foods Company has a 1-year low of $29.51 and a 1-year high of $45.77. The company has a current ratio of 3.05, a quick ratio of 2.12 and a debt-to-equity ratio of 0.28. The stock has a market cap of $2.98 billion, a price-to-earnings ratio of 30.58 and a beta of 0.81. The stock has a 50-day moving average of $34.58 and a 200-day moving average of $37.42.
Simply Good Foods (NASDAQ:SMPL – Get Rating) last released its earnings results on Thursday, June 30th. The financial services provider reported $0.44 earnings per share for the quarter, beating analysts' consensus estimates of $0.35 by $0.09. The business had revenue of $316.50 million during the quarter, compared to the consensus estimate of $293.88 million. Simply Good Foods had a net margin of 8.38% and a return on equity of 11.55%. The company's revenue for the quarter was up 11.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.43 EPS. On average, equities research analysts forecast that The Simply Good Foods Company will post 1.41 earnings per share for the current year.
Simply Good Foods Company Profile
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The Simply Good Foods Company operates as a consumer packaged food and beverage company in North America and internationally. The company develops, markets, and sells snacks and meal replacements. It offers protein bars, ready-to-drink shakes, sweet and salty snacks, cookies, pizza, protein chips, recipes, and confectionery products, as well as licensed frozen meals under the Atkins, Atkins Endulge, and Quest brand names.
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