Assenagon Asset Management S.A. Has $1.14 Million Position in The Simply Good Foods Company $SMPL

Key Points

• Assenagon Asset Management cut its Simply Good Foods stake by 78.8% in the second quarter, selling 319,402 shares and retaining 85,909 shares worth approximately $1.14 million. Institutional investors collectively own 88.45% of the company.
• Simply Good Foods reported quarterly EPS of $0.42, exceeding the $0.35 consensus estimate, while revenue of $356.98 million surpassed expectations but declined 6.3% year over year.
• Analyst sentiment remains cautious, with a consensus “Hold” rating and an average price target of $15.20; shares recently opened at $11.31 after trading between $9.88 and $30.36 over the past year.

Assenagon Asset Management S.A. lessened its stake in shares of The Simply Good Foods Company (NASDAQ:SMPL - Free Report) by 78.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 85,909 shares of the financial services provider's stock after selling 319,402 shares during the period. Assenagon Asset Management S.A. owned 0.09% of Simply Good Foods worth $1,141,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of SMPL. EverSource Wealth Advisors LLC boosted its holdings in Simply Good Foods by 125.4% during the second quarter. EverSource Wealth Advisors LLC now owns 967 shares of the financial services provider's stock valued at $31,000 after acquiring an additional 538 shares during the period. Leonteq Securities AG boosted its stake in Simply Good Foods by 96.2% during the 1st quarter. Leonteq Securities AG now owns 2,309 shares of the financial services provider's stock valued at $33,000 after purchasing an additional 1,132 shares during the period. Hantz Financial Services Inc. grew its holdings in Simply Good Foods by 82.3% in the 4th quarter. Hantz Financial Services Inc. now owns 1,787 shares of the financial services provider's stock valued at $36,000 after buying an additional 807 shares during the last quarter. Johnson Financial Group Inc. bought a new position in Simply Good Foods in the 3rd quarter worth approximately $36,000. Finally, Parallel Advisors LLC increased its position in Simply Good Foods by 167.4% in the 4th quarter. Parallel Advisors LLC now owns 2,126 shares of the financial services provider's stock worth $43,000 after buying an additional 1,331 shares during the period. Institutional investors own 88.45% of the company's stock.

Simply Good Foods Stock Up 1.2%

Shares of SMPL opened at $11.31 on Friday. The company has a quick ratio of 3.10, a current ratio of 4.80 and a debt-to-equity ratio of 0.28. The company has a 50-day moving average price of $11.92 and a two-hundred day moving average price of $13.44. The stock has a market cap of $1.00 billion, a price-to-earnings ratio of -5.21 and a beta of 0.15. The Simply Good Foods Company has a 12 month low of $9.88 and a 12 month high of $30.36.

Simply Good Foods (NASDAQ:SMPL - Get Free Report) last issued its earnings results on Thursday, July 9th. The financial services provider reported $0.42 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.35 by $0.07. The business had revenue of $356.98 million during the quarter, compared to analysts' expectations of $332.99 million. Simply Good Foods had a positive return on equity of 9.34% and a negative net margin of 14.28%.Simply Good Foods's quarterly revenue was down 6.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.51 EPS. Equities analysts predict that The Simply Good Foods Company will post 1.54 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. TD Cowen restated a "hold" rating on shares of Simply Good Foods in a research note on Friday, July 10th. Mizuho set a $19.00 price objective on shares of Simply Good Foods in a report on Monday, May 4th. Jefferies Financial Group set a $17.00 price objective on shares of Simply Good Foods in a research report on Tuesday, June 30th. UBS Group set a $15.00 target price on Simply Good Foods in a research report on Friday, July 10th. Finally, DA Davidson cut their price target on Simply Good Foods from $39.00 to $14.00 and set a "neutral" rating for the company in a report on Friday, July 10th. Three equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $15.20.

Simply Good Foods Company 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.

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