1832 Asset Management L.P. Boosts Stock Position in The Simply Good Foods Company $SMPL

Key Points

• 1832 Asset Management L.P. increased its stake in The Simply Good Foods Company by 318.8%, acquiring 20,080 shares and bringing its total ownership to 26,379 shares valued at approximately $910,000.
• Simply Good Foods CEO Geoff E. Tanner acquired 6,050 shares at $33.11 each, raising his total holdings to around $3.25 million.
• Recent analyst ratings show mixed reviews, with Mizuho reducing their price target from $47 to $43 while maintaining an "outperform" rating, indicating varying expectations for the company's stock performance.

1832 Asset Management L.P. boosted its holdings in shares of The Simply Good Foods Company (NASDAQ:SMPL - Free Report) by 318.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 26,379 shares of the financial services provider's stock after purchasing an additional 20,080 shares during the quarter. 1832 Asset Management L.P.'s holdings in Simply Good Foods were worth $910,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. T. Rowe Price Investment Management Inc. raised its stake in Simply Good Foods by 2.7% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 5,194,531 shares of the financial services provider's stock valued at $179,160,000 after purchasing an additional 134,618 shares during the period. Wellington Management Group LLP raised its stake in Simply Good Foods by 18.3% during the 1st quarter. Wellington Management Group LLP now owns 4,195,497 shares of the financial services provider's stock valued at $144,703,000 after purchasing an additional 649,258 shares during the period. Dimensional Fund Advisors LP raised its stake in Simply Good Foods by 5.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,764,646 shares of the financial services provider's stock valued at $129,841,000 after purchasing an additional 210,782 shares during the period. Silvercrest Asset Management Group LLC raised its stake in Simply Good Foods by 1.7% during the 4th quarter. Silvercrest Asset Management Group LLC now owns 1,916,389 shares of the financial services provider's stock valued at $74,701,000 after purchasing an additional 31,855 shares during the period. Finally, Victory Capital Management Inc. raised its stake in Simply Good Foods by 52.1% during the 1st quarter. Victory Capital Management Inc. now owns 1,539,208 shares of the financial services provider's stock valued at $53,087,000 after purchasing an additional 527,089 shares during the period. Institutional investors own 88.45% of the company's stock.

Insider Activity at Simply Good Foods

In related news, CEO Geoff E. Tanner bought 6,050 shares of the company's stock in a transaction dated Wednesday, July 23rd. The stock was purchased at an average price of $33.11 per share, for a total transaction of $200,315.50. Following the acquisition, the chief executive officer owned 98,190 shares in the company, valued at $3,251,070.90. This trade represents a 6.57% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 9.35% of the company's stock.

Simply Good Foods Trading Down 0.0%

Shares of Simply Good Foods stock traded down $0.01 on Monday, reaching $28.63. The company had a trading volume of 1,012,839 shares, compared to its average volume of 1,189,097. The firm has a market cap of $2.88 billion, a price-to-earnings ratio of 20.02, a P/E/G ratio of 2.81 and a beta of 0.59. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.95 and a quick ratio of 2.46. The firm's 50-day moving average price is $30.97 and its two-hundred day moving average price is $33.71. The Simply Good Foods Company has a 1 year low of $28.14 and a 1 year high of $40.53.

Simply Good Foods (NASDAQ:SMPL - Get Free Report) last announced its earnings results on Thursday, July 10th. The financial services provider reported $0.51 EPS for the quarter, hitting analysts' consensus estimates of $0.51. The firm had revenue of $380.96 million during the quarter, compared to analysts' expectations of $381.68 million. Simply Good Foods had a return on equity of 10.29% and a net margin of 9.97%.The company's quarterly revenue was up 13.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.50 EPS. As a group, research analysts predict that The Simply Good Foods Company will post 1.78 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on SMPL shares. DA Davidson decreased their target price on Simply Good Foods from $42.00 to $38.00 and set a "neutral" rating on the stock in a research note on Monday, June 9th. Citigroup reduced their price objective on Simply Good Foods from $43.00 to $40.00 and set a "buy" rating on the stock in a research note on Wednesday, June 18th. Sanford C. Bernstein set a $45.00 price objective on Simply Good Foods and gave the stock an "outperform" rating in a research note on Friday, July 11th. UBS Group set a $36.00 price objective on Simply Good Foods and gave the stock a "neutral" rating in a research note on Tuesday, July 1st. Finally, Wall Street Zen downgraded Simply Good Foods from a "buy" rating to a "hold" rating in a research note on Saturday, June 21st. Five investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $39.88.

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.