Caisse DE Depot ET Placement DU Quebec Buys New Stake in The Simply Good Foods Company $SMPL

Key Points

• Caisse DE Depot ET Placement DU Quebec acquired 36,500 shares of The Simply Good Foods Company, valued at approximately $1,259,000, in its first quarter filings.
• Multiple large investors have increased their positions in Simply Good Foods, with notable purchases including T. Rowe Price and Wellington Management, solidifying institutional ownership at 88.45%.
• The company recently reported earnings of $0.51 EPS for the quarter, slightly below revenue expectations but marking a 13.8% increase in quarterly revenue year-over-year.

Caisse DE Depot ET Placement DU Quebec bought a new position in shares of The Simply Good Foods Company (NASDAQ:SMPL - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 36,500 shares of the financial services provider's stock, valued at approximately $1,259,000.

Other hedge funds have also recently made changes to their positions in the company. Wellington Management Group LLP increased its position in Simply Good Foods by 18.3% in the 1st quarter. Wellington Management Group LLP now owns 4,195,497 shares of the financial services provider's stock valued at $144,703,000 after buying an additional 649,258 shares in the last quarter. Victory Capital Management Inc. lifted its position in shares of Simply Good Foods by 52.1% during the first quarter. Victory Capital Management Inc. now owns 1,539,208 shares of the financial services provider's stock worth $53,087,000 after acquiring an additional 527,089 shares in the last quarter. Balyasny Asset Management L.P. raised its position in shares of Simply Good Foods by 3,306.7% in the fourth quarter. Balyasny Asset Management L.P. now owns 460,827 shares of the financial services provider's stock worth $17,963,000 after buying an additional 447,300 shares in the last quarter. Stephens Investment Management Group LLC bought a new position in Simply Good Foods in the first quarter valued at $14,509,000. Finally, Nuveen LLC bought a new position in Simply Good Foods in the first quarter valued at $14,151,000. 88.45% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on SMPL. Sanford C. Bernstein set a $45.00 target price on Simply Good Foods and gave the stock an "outperform" rating in a research note on Friday, July 11th. Stifel Nicolaus lowered their target price on shares of Simply Good Foods from $40.00 to $38.00 and set a "buy" rating for the company in a report on Friday, June 27th. UBS Group set a $36.00 target price on shares of Simply Good Foods and gave the company a "neutral" rating in a report on Tuesday, July 1st. Wall Street Zen lowered shares of Simply Good Foods from a "buy" rating to a "hold" rating in a report on Saturday, June 21st. Finally, DA Davidson lowered their price target on Simply Good Foods from $42.00 to $38.00 and set a "neutral" rating on the stock in a report on Monday, June 9th. Five analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $39.88.

Simply Good Foods Trading Down 0.0%

SMPL traded down $0.01 on Monday, hitting $28.63. The company had a trading volume of 1,012,839 shares, compared to its average volume of 1,189,097. The company has a market cap of $2.88 billion, a PE ratio of 20.02, a PEG ratio of 2.81 and a beta of 0.59. The Simply Good Foods Company has a 12-month low of $28.14 and a 12-month high of $40.53. 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 business's fifty day simple moving average is $30.97 and its 200 day simple moving average is $33.71.

Simply Good Foods (NASDAQ:SMPL - Get Free Report) last announced its quarterly earnings data on Thursday, July 10th. The financial services provider reported $0.51 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.51. The business had revenue of $380.96 million during the quarter, compared to the consensus estimate of $381.68 million. Simply Good Foods had a net margin of 9.97% and a return on equity of 10.29%. The firm's quarterly revenue was up 13.8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.50 earnings per share. Equities research analysts expect that The Simply Good Foods Company will post 1.78 EPS for the current year.

Insider Transactions at Simply Good Foods

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

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.