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

Several other institutional investors and hedge funds have also modified their holdings of the business. Xponance Inc. boosted its stake in shares of Simply Good Foods by 5.8% during the 1st quarter. Xponance Inc. now owns 7,325 shares of the financial services provider's stock worth $253,000 after acquiring an additional 402 shares during the last quarter. Alliance Wealth Advisors LLC UT boosted its stake in shares of Simply Good Foods by 3.1% during the 1st quarter. Alliance Wealth Advisors LLC UT now owns 16,212 shares of the financial services provider's stock worth $559,000 after acquiring an additional 484 shares during the last quarter. Van Hulzen Asset Management LLC boosted its stake in shares of Simply Good Foods by 1.4% during the 1st quarter. Van Hulzen Asset Management LLC now owns 36,886 shares of the financial services provider's stock worth $1,272,000 after acquiring an additional 522 shares during the last quarter. Cetera Investment Advisers boosted its stake in shares of Simply Good Foods by 10.0% during the 1st quarter. Cetera Investment Advisers now owns 6,124 shares of the financial services provider's stock worth $211,000 after acquiring an additional 555 shares during the last quarter. Finally, Bayforest Capital Ltd boosted its stake in shares of Simply Good Foods by 13.8% during the 1st quarter. Bayforest Capital Ltd now owns 4,599 shares of the financial services provider's stock worth $159,000 after acquiring an additional 557 shares during the last quarter. Hedge funds and other institutional investors own 88.45% of the company's stock.

Simply Good Foods Price Performance

Shares of NASDAQ SMPL traded down $0.13 during mid-day trading on Thursday, hitting $28.53. 1,512,994 shares of the company's stock traded hands, compared to its average volume of 1,157,847. The company's 50-day moving average is $30.76 and its two-hundred day moving average is $33.58. 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 company has a market capitalization of $2.87 billion, a P/E ratio of 19.95, a PEG ratio of 2.65 and a beta of 0.59. The Simply Good Foods Company has a 1 year low of $28.14 and a 1 year high of $40.53.

Simply Good Foods (NASDAQ:SMPL - Get Free Report) last issued its quarterly earnings results on Thursday, July 10th. The financial services provider reported $0.51 EPS for the quarter, meeting the consensus estimate of $0.51. The company had revenue of $380.96 million for 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 revenue was up 13.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.50 EPS. On average, equities analysts anticipate that The Simply Good Foods Company will post 1.78 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Mizuho dropped their price target 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. UBS Group set a $36.00 target price on shares of Simply Good Foods and gave the company a "neutral" rating in a research note on Tuesday, July 1st. Citigroup lowered their target price 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. DA Davidson lowered their target price 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. Finally, Sanford C. Bernstein set a $45.00 target price on shares of Simply Good Foods and gave the company an "outperform" rating in a research note on Friday, July 11th. Five investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $39.88.

Insider Buying and Selling

In other news, CEO Geoff E. Tanner purchased 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, for a total transaction of $200,315.50. Following the acquisition, the chief executive officer owned 98,190 shares of the company's stock, valued at approximately $3,251,070.90. This trade represents a 6.57% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 9.35% of the company's stock.

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.