SG Americas Securities LLC Boosts Stake in The Simply Good Foods Company $SMPL

SG Americas Securities LLC lifted its position in The Simply Good Foods Company (NASDAQ:SMPL) by 782.6% in the 1st quarter, Holdings Channel reports. The fund owned 465,390 shares of the financial services provider’s stock after acquiring an additional 412,660 shares during the quarter. SG Americas Securities LLC’s holdings in Simply Good Foods were worth $6,678,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Hsbc Holdings PLC bought a new stake in shares of Simply Good Foods during the fourth quarter valued at approximately $599,000. Corient Private Wealth LLC bought a new position in Simply Good Foods in the fourth quarter worth $302,000. Villanova Investment Management Co LLC purchased a new position in Simply Good Foods during the fourth quarter valued at $1,794,000. River Road Asset Management LLC bought a new stake in shares of Simply Good Foods during the 4th quarter valued at $31,857,000. Finally, Pacer Advisors Inc. purchased a new stake in shares of Simply Good Foods in the 4th quarter worth about $6,499,000. Hedge funds and other institutional investors own 88.45% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on SMPL. Zacks Research upgraded shares of Simply Good Foods from a “strong sell” rating to a “hold” rating in a research note on Monday, June 8th. UBS Group decreased their target price on shares of Simply Good Foods from $13.00 to $12.00 and set a “neutral” rating for the company in a research note on Tuesday, June 2nd. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Simply Good Foods from $16.00 to $13.00 and set a “hold” rating for the company in a report on Friday, April 10th. BTIG Research assumed coverage on Simply Good Foods in a research report on Monday, April 13th. They issued a “neutral” rating on the stock. Finally, Sanford C. Bernstein downgraded Simply Good Foods from an “outperform” rating to a “market perform” rating and cut their price target for the stock from $17.00 to $12.00 in a research note on Wednesday, June 3rd. Three equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $17.80.

Insider Activity

In related news, Director James M. Kilts acquired 80,000 shares of the stock in a transaction that occurred on Thursday, April 23rd. The shares were bought at an average price of $12.39 per share, for a total transaction of $991,200.00. Following the completion of the transaction, the director directly owned 172,854 shares in the company, valued at approximately $2,141,661.06. This trade represents a 86.16% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Clayton C. Daley, Jr. bought 10,000 shares of the company’s stock in a transaction that occurred on Thursday, May 14th. The stock was bought at an average price of $11.78 per share, for a total transaction of $117,800.00. Following the acquisition, the director directly owned 111,743 shares of the company’s stock, valued at $1,316,332.54. The trade was a 9.83% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 8.76% of the stock is currently owned by corporate insiders.

Simply Good Foods Stock Performance

Shares of SMPL opened at $13.06 on Monday. The company has a market cap of $1.18 billion, a price-to-earnings ratio of -10.97 and a beta of 0.17. The business’s fifty day simple moving average is $12.18 and its two-hundred day simple moving average is $15.43. The Simply Good Foods Company has a 12 month low of $10.21 and a 12 month high of $34.19. The company has a current ratio of 5.06, a quick ratio of 2.87 and a debt-to-equity ratio of 0.27.

Simply Good Foods (NASDAQ:SMPL) last announced its quarterly earnings results on Thursday, April 9th. The financial services provider reported $0.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.40 by $0.05. Simply Good Foods had a positive return on equity of 9.72% and a negative net margin of 7.46%.The firm had revenue of $326.01 million for the quarter, compared to the consensus estimate of $345.08 million. During the same period in the prior year, the company posted $0.46 earnings per share. The company’s quarterly revenue was down 9.4% on a year-over-year basis. Research analysts anticipate that The Simply Good Foods Company will post 1.54 earnings per share for the current fiscal year.

Simply Good Foods Profile

Simply Good Foods Co (NASDAQ: SMPL) is a North American consumer packaged foods company specializing in better-for-you nutrition products. The company’s portfolio centers on two well-established brands, Atkins and Quest, which offer a range of low-carbohydrate, high-protein bars, powders, shakes, and snacks. Simply Good Foods aims to support consumers’ health and wellness goals by delivering convenient, nutrient-dense options without added sugars or artificial sweeteners.

Under the Atkins brand, the company produces meal replacements, snack bars, and ready-to-drink shakes designed for low-carb dieters.