The Simply Good Foods Company (NASDAQ:SMPL) Stock Position Trimmed by Bank of New York Mellon Corp

Bank of New York Mellon Corp lowered its stake in shares of The Simply Good Foods Company (NASDAQ:SMPL - Free Report) by 1.6% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 658,471 shares of the financial services provider's stock after selling 10,638 shares during the period. Bank of New York Mellon Corp owned approximately 0.65% of Simply Good Foods worth $22,711,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Quadrant Capital Group LLC raised its holdings in shares of Simply Good Foods by 13.5% in the 4th quarter. Quadrant Capital Group LLC now owns 2,517 shares of the financial services provider's stock valued at $98,000 after purchasing an additional 300 shares in the last quarter. LPL Financial LLC raised its holdings 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 valued at $386,000 after purchasing an additional 315 shares in the last quarter. Pictet Asset Management Holding SA raised its holdings 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 valued at $442,000 after purchasing an additional 324 shares in the last quarter. CIBC Private Wealth Group LLC raised its holdings 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 valued at $38,000 after purchasing an additional 445 shares in the last quarter. Finally, Summit Investment Advisors Inc. raised its holdings 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 valued at $372,000 after purchasing an additional 480 shares in the last quarter. Hedge funds and other institutional investors own 88.45% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently commented on SMPL shares. DA Davidson cut their price target on shares of 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. Citigroup lowered 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 report on Wednesday, June 18th. Stifel Nicolaus lowered their price objective on shares of Simply Good Foods from $40.00 to $38.00 and set a "buy" rating on the stock in a research report on Friday, June 27th. Morgan Stanley raised 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 report on Thursday, April 10th. Finally, Sanford C. Bernstein set a $45.00 price objective on shares of Simply Good Foods and gave the stock an "outperform" rating in a research report on Friday, July 11th. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $39.88.

Simply Good Foods Trading Down 1.9%

Shares of NASDAQ:SMPL traded down $0.63 during trading on Friday, reaching $32.73. The stock had a trading volume of 832,703 shares, compared to its average volume of 1,007,092. The business has a fifty day moving average price of $33.51 and a 200-day moving average price of $35.14. 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 stock has a market cap of $3.29 billion, a P/E ratio of 22.89, a PEG ratio of 3.21 and a beta of 0.68. The Simply Good Foods Company has a fifty-two week low of $30.47 and a fifty-two week high of $40.53.

Simply Good Foods (NASDAQ:SMPL - Get Free Report) last posted its quarterly earnings results on Thursday, July 10th. The financial services provider reported $0.51 earnings per share for the quarter, topping analysts' consensus estimates 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 for the quarter, compared to the consensus estimate of $381.68 million. During the same quarter last year, the firm posted $0.50 earnings per share. Simply Good Foods's revenue was up 13.8% on a year-over-year basis. As a group, analysts anticipate that The Simply Good Foods Company will post 1.78 earnings per share 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.