AMI Asset Management Corp Trims Stock Position in The Simply Good Foods Company $SMPL

Key Points

• AMI Asset Management Corp reduced its stake in The Simply Good Foods Company by 45.0% in Q2, now holding 21,397 shares valued at approximately $676,000.
• Institutional ownership is significant, with 88.45% of the stock held by hedge funds and other institutional investors, indicating strong market interest.
• Simply Good Foods reported a 13.8% increase in revenue year-over-year, with earnings per share matching analyst expectations at $0.51.

AMI Asset Management Corp cut its stake in The Simply Good Foods Company (NASDAQ:SMPL - Free Report) by 45.0% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 21,397 shares of the financial services provider's stock after selling 17,509 shares during the period. AMI Asset Management Corp's holdings in Simply Good Foods were worth $676,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. State of Alaska Department of Revenue lifted its position in Simply Good Foods by 7.5% in the second quarter. State of Alaska Department of Revenue now owns 54,731 shares of the financial services provider's stock valued at $1,728,000 after acquiring an additional 3,804 shares during the last quarter. Congress Asset Management Co. raised its holdings in shares of Simply Good Foods by 5.3% in the second quarter. Congress Asset Management Co. now owns 377,312 shares of the financial services provider's stock valued at $11,919,000 after buying an additional 19,018 shares during the last quarter. Covea Finance raised its holdings in shares of Simply Good Foods by 21.2% in the second quarter. Covea Finance now owns 245,500 shares of the financial services provider's stock valued at $7,755,000 after buying an additional 43,000 shares during the last quarter. Exchange Traded Concepts LLC raised its holdings in shares of Simply Good Foods by 4.3% in the second quarter. Exchange Traded Concepts LLC now owns 53,175 shares of the financial services provider's stock valued at $1,680,000 after buying an additional 2,189 shares during the last quarter. Finally, Voya Investment Management LLC raised its holdings in shares of Simply Good Foods by 33.2% in the first quarter. Voya Investment Management LLC now owns 79,703 shares of the financial services provider's stock valued at $2,749,000 after buying an additional 19,887 shares during the last quarter. 88.45% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Simply Good Foods

In related news, CEO Geoff E. Tanner bought 6,050 shares of the company's stock in a transaction on Wednesday, July 23rd. The stock was bought at an average cost of $33.11 per share, with a total value of $200,315.50. Following the completion of the acquisition, the chief executive officer owned 98,190 shares in the company, valued at approximately $3,251,070.90. This represents a 6.57% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 9.35% of the company's stock.

Simply Good Foods Stock Performance

NASDAQ SMPL opened at $24.82 on Thursday. The stock has a market capitalization of $2.50 billion, a P/E ratio of 17.36, a P/E/G ratio of 2.63 and a beta of 0.53. The Simply Good Foods Company has a 52-week low of $24.30 and a 52-week high of $40.53. The firm has a 50-day moving average price of $28.42 and a 200 day moving average price of $32.25. The company has a quick ratio of 2.46, a current ratio of 3.95 and a debt-to-equity ratio of 0.14.

Simply Good Foods (NASDAQ:SMPL - Get Free Report) last issued its earnings results on Thursday, July 10th. The financial services provider reported $0.51 earnings per share for the quarter, hitting the consensus estimate of $0.51. Simply Good Foods had a net margin of 9.97% and a return on equity of 10.29%. The company had revenue of $380.96 million for the quarter, compared to analyst estimates of $381.68 million. During the same period in the prior year, the business posted $0.50 earnings per share. The firm's revenue for the quarter was up 13.8% compared to the same quarter last year. Equities research analysts expect that The Simply Good Foods Company will post 1.78 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. Wall Street Zen cut shares of Simply Good Foods from a "buy" rating to a "hold" rating in a report on Saturday, June 21st. Stifel Nicolaus reduced their target price on shares of Simply Good Foods from $40.00 to $38.00 and set a "buy" rating for the company in a report on Friday, June 27th. Sanford C. Bernstein set a $45.00 target price on shares of Simply Good Foods and gave the company an "outperform" rating in a report on Friday, July 11th. Citigroup reduced their target price on shares of Simply Good Foods from $43.00 to $40.00 and set a "buy" rating for the company in a report on Wednesday, June 18th. Finally, DA Davidson cut their price target on shares of Simply Good Foods from $42.00 to $38.00 and set a "neutral" rating for the company in a report on Monday, June 9th. Five equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price 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.

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