Bank of America Corp DE Has $17.32 Million Stock Holdings in The Simply Good Foods Company (NASDAQ:SMPL)

Bank of America Corp DE increased its stake in The Simply Good Foods Company (NASDAQ:SMPL - Free Report) by 14.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 444,442 shares of the financial services provider's stock after purchasing an additional 56,122 shares during the quarter. Bank of America Corp DE owned about 0.44% of Simply Good Foods worth $17,324,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the stock. Quadrant Capital Group LLC lifted its holdings in Simply Good Foods by 13.5% in the fourth quarter. Quadrant Capital Group LLC now owns 2,517 shares of the financial services provider's stock worth $98,000 after purchasing an additional 300 shares during the period. LPL Financial LLC grew its stake in shares of Simply Good Foods by 3.3% in the 4th quarter. LPL Financial LLC now owns 9,890 shares of the financial services provider's stock worth $386,000 after purchasing an additional 315 shares during the last quarter. Pictet Asset Management Holding SA grew its stake in shares of Simply Good Foods by 2.9% in the 4th quarter. Pictet Asset Management Holding SA now owns 11,338 shares of the financial services provider's stock worth $442,000 after purchasing an additional 324 shares during the last quarter. CIBC Private Wealth Group LLC grew its stake 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 worth $38,000 after purchasing an additional 445 shares during the last quarter. Finally, Summit Investment Advisors Inc. grew its stake in shares of Simply Good Foods by 5.3% in the 4th quarter. Summit Investment Advisors Inc. now owns 9,549 shares of the financial services provider's stock worth $372,000 after purchasing an additional 480 shares during the last quarter. Institutional investors and hedge funds own 88.45% of the company's stock.

Insider Activity

In other news, SVP Stuart E. Jr. Heflin sold 5,000 shares of the company's stock in a transaction dated Friday, April 11th. The stock was sold at an average price of $37.25, for a total value of $186,250.00. Following the transaction, the senior vice president now owns 12,839 shares in the company, valued at $478,252.75. This represents a 28.03% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 9.35% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on SMPL. DA Davidson lifted their price objective on shares of Simply Good Foods from $35.00 to $41.00 and gave the stock a "neutral" rating in a research note on Friday, April 11th. Morgan Stanley lifted their price objective on shares of Simply Good Foods from $36.00 to $37.00 and gave the stock an "equal weight" rating in a research note on Thursday, April 10th. Wall Street Zen raised shares of Simply Good Foods from a "hold" rating to a "buy" rating in a research note on Saturday. UBS Group initiated coverage on shares of Simply Good Foods in a research note on Wednesday, April 23rd. They set a "neutral" rating and a $41.00 price objective for the company. Finally, Mizuho upped their price objective on shares of Simply Good Foods from $45.00 to $47.00 and gave the company an "outperform" rating in a research note on Friday, April 11th. Four analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $41.00.

Simply Good Foods Stock Up 0.2%

Shares of SMPL traded up $0.06 during trading hours on Monday, reaching $34.41. The company's stock had a trading volume of 600,849 shares, compared to its average volume of 927,803. The firm has a market cap of $3.48 billion, a price-to-earnings ratio of 24.40, a P/E/G ratio of 3.23 and a beta of 0.72. The Simply Good Foods Company has a 1-year low of $31.25 and a 1-year high of $40.53. The company has a quick ratio of 2.75, a current ratio of 4.23 and a debt-to-equity ratio of 0.20. The company has a 50 day moving average of $35.40 and a two-hundred day moving average of $36.76.

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

Simply Good Foods 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.