The Simply Good Foods Company (NASDAQ:SMPL) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp reduced its stake in shares of The Simply Good Foods Company (NASDAQ:SMPL - Free Report) by 1.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 658,471 shares of the financial services provider's stock after selling 10,638 shares during the quarter. Bank of New York Mellon Corp owned 0.65% of Simply Good Foods worth $22,711,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in SMPL. Wells Fargo & Company MN lifted its holdings in shares of Simply Good Foods by 50.2% in the fourth quarter. Wells Fargo & Company MN now owns 45,685 shares of the financial services provider's stock valued at $1,781,000 after purchasing an additional 15,275 shares in the last quarter. Wealth Enhancement Advisory Services LLC purchased a new stake in shares of Simply Good Foods in the fourth quarter valued at about $206,000. Assenagon Asset Management S.A. purchased a new stake in shares of Simply Good Foods in the first quarter valued at about $1,437,000. SG Americas Securities LLC purchased a new stake in shares of Simply Good Foods in the first quarter valued at about $712,000. Finally, Rhumbline Advisers lifted its stake in shares of Simply Good Foods by 0.8% during the first quarter. Rhumbline Advisers now owns 255,703 shares of the financial services provider's stock valued at $8,819,000 after buying an additional 1,904 shares during the period. 88.45% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. Citigroup reduced their price objective on shares of 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. UBS Group set a $36.00 price objective on shares of Simply Good Foods and gave the company a "neutral" rating in a research note on Tuesday, July 1st. Morgan Stanley upped their price objective on shares of Simply Good Foods from $36.00 to $37.00 and gave the company an "equal weight" rating in a research note on Thursday, April 10th. Sanford C. Bernstein set a $45.00 price objective on shares of Simply Good Foods and gave the company an "outperform" rating in a research note on Friday, July 11th. Finally, Mizuho reduced their price objective 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. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $39.88.

Simply Good Foods Trading Up 0.1%

SMPL stock traded up $0.02 on Monday, hitting $32.75. 1,453,051 shares of the company were exchanged, compared to its average volume of 1,008,876. The Simply Good Foods Company has a twelve month low of $30.47 and a twelve month high of $40.53. 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 business's fifty day moving average is $33.51 and its two-hundred day moving average is $35.14. The stock has a market capitalization of $3.29 billion, a price-to-earnings ratio of 22.90, a price-to-earnings-growth ratio of 3.21 and a beta of 0.68.

Simply Good Foods (NASDAQ:SMPL - Get Free Report) last released its quarterly earnings data on Thursday, July 10th. The financial services provider reported $0.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.50 by $0.01. Simply Good Foods had a net margin of 9.97% and a return on equity of 10.29%. The company had revenue of $380,956 billion during the quarter, compared to analyst estimates of $381.68 million. During the same quarter in the prior year, the business earned $0.50 earnings per share. The business's quarterly revenue was up 13.8% compared to the same quarter last year. As a group, research analysts forecast that The Simply Good Foods Company will post 1.78 earnings per share for the current year.

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.