Capital World Investors Sells 1,713,685 Shares of The Simply Good Foods Company (NASDAQ:SMPL)

Capital World Investors cut its holdings in shares of The Simply Good Foods Company (NASDAQ:SMPL - Free Report) by 40.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,554,690 shares of the financial services provider's stock after selling 1,713,685 shares during the period. Capital World Investors owned 2.53% of Simply Good Foods worth $99,582,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. R Squared Ltd acquired a new position in Simply Good Foods during the 4th quarter valued at about $26,000. CIBC Private Wealth Group LLC raised its position in shares of Simply Good Foods by 72.4% in the 4th quarter. CIBC Private Wealth Group LLC now owns 1,060 shares of the financial services provider's stock valued at $38,000 after acquiring an additional 445 shares during the period. Smartleaf Asset Management LLC raised its position in shares of Simply Good Foods by 255.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,710 shares of the financial services provider's stock valued at $66,000 after acquiring an additional 1,229 shares during the period. GAMMA Investing LLC raised its position in shares of Simply Good Foods by 215.6% in the 4th quarter. GAMMA Investing LLC now owns 1,758 shares of the financial services provider's stock valued at $69,000 after acquiring an additional 1,201 shares during the period. Finally, Quadrant Capital Group LLC raised its position in shares of Simply Good Foods by 13.5% in the 4th quarter. Quadrant Capital Group LLC now owns 2,517 shares of the financial services provider's stock valued at $98,000 after acquiring an additional 300 shares during the period. 88.45% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Simply Good Foods

In related news, SVP Stuart E. Jr. Heflin sold 5,000 shares of the firm's stock in a transaction on Friday, April 11th. The shares were sold at an average price of $37.25, for a total value of $186,250.00. Following the completion of the transaction, the senior vice president now directly owns 12,839 shares of the company's stock, valued at approximately $478,252.75. This trade represents a 28.03 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 9.35% of the company's stock.

Simply Good Foods Stock Down 0.5 %

Shares of SMPL traded down $0.19 during mid-day trading on Friday, hitting $35.23. 645,464 shares of the company's stock were exchanged, compared to its average volume of 921,324. The company has a market cap of $3.56 billion, a PE ratio of 24.99, a P/E/G ratio of 3.23 and a beta of 0.63. The Simply Good Foods Company has a 52 week low of $31.25 and a 52 week high of $40.53. The company has a 50-day simple moving average of $35.54 and a 200 day simple moving average of $36.50. The company has a debt-to-equity ratio of 0.20, a current ratio of 4.23 and a quick ratio of 2.75.

Simply Good Foods (NASDAQ:SMPL - Get Free Report) last issued its quarterly earnings results on Wednesday, April 9th. The financial services provider reported $0.46 earnings per share for the quarter, topping the consensus estimate of $0.40 by $0.06. The company had revenue of $359.70 million during the quarter, compared to analysts' expectations of $354.50 million. Simply Good Foods had a net margin of 10.40% and a return on equity of 10.25%. The business's quarterly revenue was up 15.2% on a year-over-year basis. During the same period last year, the business earned $0.40 EPS. On average, research analysts forecast that The Simply Good Foods Company will post 1.78 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on SMPL shares. Mizuho increased their price target on shares of Simply Good Foods from $45.00 to $47.00 and gave the company an "outperform" rating in a research report on Friday, April 11th. Morgan Stanley increased their price target on shares of Simply Good Foods from $36.00 to $37.00 and gave the company an "equal weight" rating in a research report on Thursday, April 10th. DA Davidson increased their price target on shares of Simply Good Foods from $35.00 to $41.00 and gave the company a "neutral" rating in a research report on Friday, April 11th. Finally, UBS Group began coverage on shares of Simply Good Foods in a report on Wednesday. They set a "neutral" rating and a $41.00 target price on the stock. Four analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $41.00.

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.