Swiss National Bank Reduces Position in The Simply Good Foods Company (NASDAQ:SMPL)

Swiss National Bank lessened its holdings in shares of The Simply Good Foods Company (NASDAQ:SMPL) by 0.7% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 185,800 shares of the financial services provider’s stock after selling 1,300 shares during the quarter. Swiss National Bank owned about 0.19% of Simply Good Foods worth $6,460,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the business. Dimensional Fund Advisors LP raised its holdings in Simply Good Foods by 6.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,223,666 shares of the financial services provider’s stock valued at $116,468,000 after acquiring an additional 203,914 shares during the period. Boston Trust Walden Corp bought a new position in shares of Simply Good Foods in the third quarter worth $80,270,000. Principal Financial Group Inc. grew its position in shares of Simply Good Foods by 14.3% in the second quarter. Principal Financial Group Inc. now owns 1,474,736 shares of the financial services provider’s stock valued at $53,282,000 after purchasing an additional 184,539 shares in the last quarter. Victory Capital Management Inc. raised its stake in shares of Simply Good Foods by 13.5% during the 3rd quarter. Victory Capital Management Inc. now owns 1,045,457 shares of the financial services provider’s stock valued at $36,351,000 after purchasing an additional 124,655 shares during the period. Finally, Armistice Capital LLC purchased a new stake in Simply Good Foods during the 2nd quarter worth about $34,582,000. Hedge funds and other institutional investors own 88.45% of the company’s stock.

Insiders Place Their Bets

In other news, Director Brian K. Ratzan sold 50,000 shares of the business’s stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $37.38, for a total value of $1,869,000.00. Following the completion of the sale, the director now directly owns 2,049,387 shares in the company, valued at approximately $76,606,086.06. The trade was a 2.38 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Joseph Scalzo sold 25,000 shares of the stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $35.99, for a total transaction of $899,750.00. Following the transaction, the director now directly owns 139,204 shares in the company, valued at approximately $5,009,951.96. This represents a 15.22 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 327,869 shares of company stock valued at $12,139,570 over the last 90 days. Insiders own 10.98% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on SMPL shares. Stephens reduced their target price on Simply Good Foods from $44.00 to $42.00 and set an “overweight” rating for the company in a report on Wednesday, October 23rd. Citigroup reduced their price objective on shares of Simply Good Foods from $46.00 to $43.00 and set a “buy” rating for the company in a research note on Thursday, November 14th. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $40.78.

Simply Good Foods Stock Up 0.4 %

Shares of NASDAQ SMPL opened at $40.01 on Wednesday. The business has a 50-day moving average of $34.86 and a 200-day moving average of $35.02. The firm has a market capitalization of $4.01 billion, a price-to-earnings ratio of 28.99, a PEG ratio of 3.45 and a beta of 0.64. The company has a current ratio of 4.05, a quick ratio of 2.75 and a debt-to-equity ratio of 0.23. The Simply Good Foods Company has a 12 month low of $30.00 and a 12 month high of $43.00.

Simply Good Foods (NASDAQ:SMPL) last issued its quarterly earnings results on Thursday, October 24th. The financial services provider reported $0.50 EPS for the quarter, hitting analysts’ consensus estimates of $0.50. The firm had revenue of $375.70 million for the quarter, compared to analyst estimates of $373.07 million. Simply Good Foods had a net margin of 10.46% and a return on equity of 10.23%. The business’s revenue for the quarter was up 17.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.41 EPS. Sell-side analysts expect that The Simply Good Foods Company will post 1.76 earnings per share for the current fiscal year.

Simply Good Foods Profile

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, protein chips, and recipes under the Atkins and Quest brand names.