The Simply Good Foods Company $SMPL Shares Purchased by 1832 Asset Management L.P.

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. increased its position in shares of The Simply Good Foods Company (NASDAQ:SMPL - Free Report) by 318.8% in the first quarter, according to its most recent Form 13F filing with the Securities & 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 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Raymond James Financial Inc. acquired a new stake in Simply Good Foods during the fourth quarter worth about $1,863,000. Mariner LLC acquired a new position in shares of Simply Good Foods during the fourth quarter valued at approximately $288,000. MetLife Investment Management LLC lifted its position in shares of Simply Good Foods by 4.6% in the fourth quarter. MetLife Investment Management LLC now owns 55,123 shares of the financial services provider's stock valued at $2,149,000 after acquiring an additional 2,422 shares in the last quarter. Two Sigma Securities LLC purchased a new stake in shares of Simply Good Foods during the fourth quarter worth $312,000. Finally, Northern Trust Corp lifted its stake in shares of Simply Good Foods by 10.7% in the fourth quarter. Northern Trust Corp now owns 999,455 shares of the financial services provider's stock worth $38,959,000 after buying an additional 96,593 shares in the last quarter. Institutional investors and hedge funds own 88.45% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on SMPL shares. Citigroup dropped their price target on Simply Good Foods from $43.00 to $40.00 and set a "buy" rating for the company in a research report on Wednesday, June 18th. Stifel Nicolaus lowered their price objective on Simply Good Foods from $40.00 to $38.00 and set a "buy" rating for the company in a research report on Friday, June 27th. Sanford C. Bernstein set a $45.00 price target on shares of Simply Good Foods and gave the company an "outperform" rating in a research note on Friday, July 11th. DA Davidson decreased their price target 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. Finally, Mizuho cut their price target on shares of Simply Good Foods from $47.00 to $43.00 and set an "outperform" rating on the stock in a research note on Tuesday, July 15th. Five equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat, Simply Good Foods currently has an average rating of "Moderate Buy" and a consensus price target of $39.88.

Simply Good Foods Stock Performance

Shares of NASDAQ SMPL traded down $0.01 during mid-day trading on Friday, hitting $28.63. 1,012,839 shares of the company were exchanged, compared to its average volume of 1,184,257. The stock has a 50 day simple moving average of $31.05 and a 200-day simple moving average of $33.84. The Simply Good Foods Company has a 1-year low of $28.14 and a 1-year high of $40.53. The company has a quick ratio of 2.46, a current ratio of 3.95 and a debt-to-equity ratio of 0.14. The firm has a market cap of $2.88 billion, a price-to-earnings ratio of 20.02, a price-to-earnings-growth ratio of 2.81 and a beta of 0.59.

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

Insider Activity at Simply Good Foods

In related news, CEO Geoff E. Tanner purchased 6,050 shares of the stock in a transaction dated Wednesday, July 23rd. The shares were acquired at an average cost of $33.11 per share, with a total value of $200,315.50. Following the purchase, the chief executive officer directly owned 98,190 shares in the company, valued at $3,251,070.90. This trade represents a 6.57% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 9.35% of the company's stock.

About Simply Good Foods

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.