Congress Asset Management Co. Has $11.92 Million Stock Holdings in The Simply Good Foods Company $SMPL

Key Points

• Congress Asset Management Co. increased its stake in The Simply Good Foods Company by 5.3% in Q2, now holding 377,312 shares worth approximately $11.92 million.
• The company has seen significant interest from institutional investors, with 88.45% of stock currently owned by them, indicating strong market confidence.
• Research analysts have adjusted their price targets for Simply Good Foods, with an average target of $39.88, reflecting a consensus rating of "Moderate Buy".

Congress Asset Management Co. raised its holdings in The Simply Good Foods Company (NASDAQ:SMPL - Free Report) by 5.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 377,312 shares of the financial services provider's stock after acquiring an additional 19,018 shares during the period. Congress Asset Management Co. owned about 0.38% of Simply Good Foods worth $11,919,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of the business. Wealth Enhancement Advisory Services LLC acquired a new position in Simply Good Foods during the 4th quarter worth approximately $206,000. Assenagon Asset Management S.A. acquired a new position in Simply Good Foods during the first quarter worth $1,437,000. Intech Investment Management LLC boosted its holdings in Simply Good Foods by 43.5% during the first quarter. Intech Investment Management LLC now owns 62,005 shares of the financial services provider's stock worth $2,139,000 after purchasing an additional 18,801 shares during the last quarter. Voya Investment Management LLC grew its position in Simply Good Foods by 33.2% in the first quarter. Voya Investment Management LLC now owns 79,703 shares of the financial services provider's stock valued at $2,749,000 after purchasing an additional 19,887 shares in the last quarter. Finally, SG Americas Securities LLC acquired a new stake in Simply Good Foods in the 1st quarter valued at $712,000. 88.45% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CEO Geoff E. Tanner purchased 6,050 shares of Simply Good Foods stock in a transaction that occurred on Wednesday, July 23rd. The stock was acquired at an average cost of $33.11 per share, for a total transaction of $200,315.50. Following the purchase, the chief executive officer directly owned 98,190 shares of the company's stock, valued at $3,251,070.90. This trade represents a 6.57% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 9.35% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms have weighed in on SMPL. Stifel Nicolaus decreased their price target 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. UBS Group set a $36.00 price objective on Simply Good Foods and gave the company a "neutral" rating in a report on Tuesday, July 1st. 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 report on Monday, June 9th. Citigroup dropped their price target 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. Finally, Mizuho decreased their price objective on shares of Simply Good Foods from $47.00 to $43.00 and set an "outperform" rating for the company in a research report on Tuesday, July 15th. Five investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $39.88.

Simply Good Foods Trading Down 0.3%

Shares of Simply Good Foods stock opened at $24.71 on Friday. 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 has a fifty day simple moving average of $28.90 and a two-hundred day simple moving average of $32.45. The Simply Good Foods Company has a 1 year low of $24.49 and a 1 year high of $40.53. The company has a market capitalization of $2.48 billion, a price-to-earnings ratio of 17.28, a P/E/G ratio of 2.62 and a beta of 0.59.

Simply Good Foods (NASDAQ:SMPL - Get Free Report) last issued its quarterly earnings data on Thursday, July 10th. The financial services provider reported $0.51 earnings per share for the quarter, meeting the consensus estimate of $0.51. The company had revenue of $380.96 million for the quarter, compared to analyst estimates of $381.68 million. Simply Good Foods had a net margin of 9.97% and a return on equity of 10.29%. The company's revenue was up 13.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.50 earnings per share. Research analysts forecast that The Simply Good Foods Company will post 1.78 EPS for the current 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.

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