Covestor Ltd Purchases 963 Shares of The Simply Good Foods Company (NASDAQ:SMPL)

Covestor Ltd grew its position in shares of The Simply Good Foods Company (NASDAQ:SMPL) by 32.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,902 shares of the financial services provider’s stock after acquiring an additional 963 shares during the quarter. Covestor Ltd’s holdings in Simply Good Foods were worth $133,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of SMPL. Cynosure Group LLC acquired a new position in shares of Simply Good Foods during the first quarter valued at about $315,000. Hillsdale Investment Management Inc. acquired a new position in Simply Good Foods during the 1st quarter valued at about $4,046,000. Edgestream Partners L.P. acquired a new position in Simply Good Foods during the 1st quarter valued at about $624,000. Vanguard Group Inc. increased its holdings in Simply Good Foods by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 11,099,351 shares of the financial services provider’s stock worth $377,711,000 after purchasing an additional 174,157 shares in the last quarter. Finally, Jupiter Asset Management Ltd. purchased a new stake in shares of Simply Good Foods in the first quarter worth approximately $3,389,000. Institutional investors own 88.45% of the company’s stock.

Insider Activity at Simply Good Foods

In other news, Director James D. White sold 4,000 shares of Simply Good Foods stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $38.17, for a total value of $152,680.00. Following the completion of the transaction, the director now owns 17,027 shares in the company, valued at $649,920.59. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 10.98% of the stock is currently owned by company insiders.

Simply Good Foods Stock Performance

SMPL stock traded up $0.08 during mid-day trading on Wednesday, hitting $33.63. The company had a trading volume of 371,206 shares, compared to its average volume of 878,982. The Simply Good Foods Company has a 12 month low of $30.00 and a 12 month high of $43.00. The company has a debt-to-equity ratio of 0.14, a quick ratio of 4.05 and a current ratio of 5.19. The stock’s fifty day moving average price is $36.69 and its two-hundred day moving average price is $36.16. The firm has a market cap of $3.37 billion, a PE ratio of 23.23, a price-to-earnings-growth ratio of 2.48 and a beta of 0.61.

Simply Good Foods (NASDAQ:SMPL) last released 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 business posted $0.40 earnings per share. The business’s revenue for the quarter was up 3.1% on a year-over-year basis. On average, analysts forecast that The Simply Good Foods Company will post 1.69 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts recently issued reports on SMPL shares. Mizuho reiterated a “buy” rating and set a $50.00 price target on shares of Simply Good Foods in a report on Friday, April 5th. Deutsche Bank Aktiengesellschaft upped their target price on shares of Simply Good Foods from $36.00 to $37.00 and gave the stock a “hold” rating in a research note on Friday, June 14th. Needham & Company LLC reiterated a “buy” rating and issued a $41.00 target price on shares of Simply Good Foods in a report on Friday, June 28th. TD Cowen initiated coverage on shares of Simply Good Foods in a report on Monday, April 22nd. They set a “hold” rating and a $34.00 price target on the stock. Finally, Stifel Nicolaus upped their price objective on shares of Simply Good Foods from $38.00 to $40.00 and gave the stock a “buy” rating in a research report on Friday, June 14th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $40.29.

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.