Bessemer Group Inc. Raises Stake in The Simply Good Foods Company (NASDAQ:SMPL)

Bessemer Group Inc. grew its stake in The Simply Good Foods Company (NASDAQ:SMPL) by 5.3% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 218,118 shares of the financial services provider’s stock after purchasing an additional 11,023 shares during the period. Bessemer Group Inc. owned about 0.22% of Simply Good Foods worth $7,423,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the stock. Blue Trust Inc. boosted its position in Simply Good Foods by 18.8% in the 4th quarter. Blue Trust Inc. now owns 1,846 shares of the financial services provider’s stock worth $73,000 after purchasing an additional 292 shares in the last quarter. Teacher Retirement System of Texas boosted its position in Simply Good Foods by 1.7% in the 4th quarter. Teacher Retirement System of Texas now owns 20,007 shares of the financial services provider’s stock worth $792,000 after purchasing an additional 326 shares in the last quarter. Alliance Wealth Advisors LLC UT boosted its position in Simply Good Foods by 3.6% in the 4th quarter. Alliance Wealth Advisors LLC UT now owns 11,210 shares of the financial services provider’s stock worth $444,000 after purchasing an additional 394 shares in the last quarter. Parkside Financial Bank & Trust boosted its position in Simply Good Foods by 103.1% in the 4th quarter. Parkside Financial Bank & Trust now owns 853 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 433 shares in the last quarter. Finally, Pacer Advisors Inc. boosted its position in Simply Good Foods by 121.5% in the 4th quarter. Pacer Advisors Inc. now owns 833 shares of the financial services provider’s stock worth $33,000 after purchasing an additional 457 shares in the last quarter. Hedge funds and other institutional investors own 88.45% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on SMPL shares. Stifel Nicolaus upped their target price on Simply Good Foods from $38.00 to $40.00 and gave the stock a “buy” rating in a research note on Friday, June 14th. Needham & Company LLC reaffirmed a “buy” rating and set a $41.00 target price on shares of Simply Good Foods in a research note on Friday, June 28th. TD Cowen started coverage on Simply Good Foods in a research note on Monday, April 22nd. They set a “hold” rating and a $34.00 target price for the company. Morgan Stanley reaffirmed an “overweight” rating and set a $42.00 target price on shares of Simply Good Foods in a research note on Thursday, April 11th. Finally, DA Davidson upped their target price on Simply Good Foods from $35.00 to $38.00 and gave the stock a “neutral” rating in a research note on Monday, July 1st. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $40.29.

Simply Good Foods Price Performance

NASDAQ SMPL traded down $0.10 during mid-day trading on Wednesday, hitting $33.45. The stock had a trading volume of 1,125,753 shares, compared to its average volume of 884,334. The Simply Good Foods Company has a twelve month low of $30.00 and a twelve month high of $43.00. The stock has a market capitalization of $3.35 billion, a price-to-earnings ratio of 23.07, a PEG ratio of 2.48 and a beta of 0.61. The firm’s 50 day moving average is $36.61 and its 200 day moving average is $36.14. The company has a debt-to-equity ratio of 0.14, a current ratio of 5.19 and a quick ratio of 4.05.

Simply Good Foods (NASDAQ:SMPL) last issued its earnings results on Thursday, June 27th. The financial services provider reported $0.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.48 by $0.02. Simply Good Foods had a return on equity of 10.28% and a net margin of 11.49%. The business had revenue of $334.80 million during the quarter, compared to the consensus estimate of $337.66 million. During the same period last year, the company earned $0.40 EPS. The company’s revenue for the quarter was up 3.1% on a year-over-year basis. Equities research analysts forecast that The Simply Good Foods Company will post 1.69 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Simply Good Foods news, Director James D. White sold 4,000 shares of the firm’s stock in a transaction on Friday, May 10th. The stock was sold at an average price of $38.17, for a total value of $152,680.00. Following the completion of the sale, the director now directly owns 17,027 shares of the company’s stock, valued at approximately $649,920.59. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 10.98% of the company’s stock.

Simply Good Foods Company 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.