Boston Partners Trims Stake in The Simply Good Foods Company $SMPL

Key Points

• Boston Partners has decreased its position in The Simply Good Foods Company (NASDAQ: SMPL) by 27.4%, selling 334,421 shares to hold a total of 886,864 shares valued at approximately $30.8 million.
• Various institutional investors have also adjusted their holdings, with some like Russell Investments Group Ltd. increasing their position by 2,055.7% during the same quarter.
• The Simply Good Foods Company reported earnings of $0.51 per share, exceeding estimates, alongside a 13.8% revenue increase year-over-year for the quarter.

Boston Partners cut its stake in shares of The Simply Good Foods Company (NASDAQ:SMPL - Free Report) by 27.4% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 886,864 shares of the financial services provider's stock after selling 334,421 shares during the period. Boston Partners owned about 0.88% of Simply Good Foods worth $30,805,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of SMPL. Caitong International Asset Management Co. Ltd bought a new stake in Simply Good Foods during the first quarter valued at $55,000. Russell Investments Group Ltd. boosted its position in Simply Good Foods by 2,055.7% during the first quarter. Russell Investments Group Ltd. now owns 3,018 shares of the financial services provider's stock valued at $104,000 after acquiring an additional 2,878 shares during the last quarter. Banque Cantonale Vaudoise bought a new stake in Simply Good Foods during the first quarter valued at $105,000. Nisa Investment Advisors LLC boosted its position in Simply Good Foods by 24.7% during the first quarter. Nisa Investment Advisors LLC now owns 3,808 shares of the financial services provider's stock valued at $131,000 after acquiring an additional 754 shares during the last quarter. Finally, Bayforest Capital Ltd boosted its position in Simply Good Foods by 13.8% during the first quarter. Bayforest Capital Ltd now owns 4,599 shares of the financial services provider's stock valued at $159,000 after acquiring an additional 557 shares during the last quarter. 88.45% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. Citigroup reduced their target price on Simply Good Foods from $43.00 to $40.00 and set a "buy" rating for the company in a research note on Wednesday, June 18th. Stifel Nicolaus reduced their target price on Simply Good Foods from $40.00 to $38.00 and set a "buy" rating for the company in a research note on Friday, June 27th. Sanford C. Bernstein set a $45.00 target price on Simply Good Foods and gave the company an "outperform" rating in a research note on Friday, July 11th. Mizuho reduced their target price on Simply Good Foods from $47.00 to $43.00 and set an "outperform" rating for the company in a research note on Tuesday, July 15th. Finally, DA Davidson reduced their target price on Simply Good Foods from $42.00 to $38.00 and set a "neutral" rating for the company in a research note on Monday, June 9th. Five research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $39.88.

Insider Buying and Selling

In other Simply Good Foods news, CEO Geoff E. Tanner acquired 6,050 shares of the company's stock in a transaction that occurred on Wednesday, July 23rd. The shares were acquired at an average price of $33.11 per share, with a total value of $200,315.50. Following the completion of the purchase, the chief executive officer directly owned 98,190 shares of the company's stock, valued at approximately $3,251,070.90. The trade was a 6.57% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 9.35% of the stock is owned by insiders.

Simply Good Foods Stock Performance

Shares of SMPL stock traded up $0.13 during trading hours on Wednesday, hitting $28.84. 768,097 shares of the company were exchanged, compared to its average volume of 1,239,687. The firm has a fifty day simple moving average of $31.55 and a 200 day simple moving average of $34.23. The company has a current ratio of 3.95, a quick ratio of 2.46 and a debt-to-equity ratio of 0.14. The Simply Good Foods Company has a 52-week low of $28.14 and a 52-week high of $40.53. The stock has a market capitalization of $2.90 billion, a price-to-earnings ratio of 20.17, a P/E/G ratio of 2.81 and a beta of 0.59.

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 for the quarter, beating 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 business had revenue of $380,956 billion during the quarter, compared to analyst estimates of $381.68 million. During the same period in the previous year, the business earned $0.50 EPS. Simply Good Foods's revenue was up 13.8% compared to the same quarter last year. Research analysts predict that The Simply Good Foods Company will post 1.78 earnings per share for the current fiscal year.

About Simply Good Foods

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.