Congress Asset Management Co. Increases Holdings in The Simply Good Foods Company (NASDAQ:SMPL)

Congress Asset Management Co. increased its stake in The Simply Good Foods Company (NASDAQ:SMPL - Free Report) by 14.2% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 358,294 shares of the financial services provider's stock after purchasing an additional 44,622 shares during the quarter. Congress Asset Management Co. owned about 0.35% of Simply Good Foods worth $12,358,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the stock. FMR LLC grew its position in shares of Simply Good Foods by 86.5% in the fourth quarter. FMR LLC now owns 9,566,199 shares of the financial services provider's stock valued at $372,890,000 after purchasing an additional 4,437,372 shares in the last quarter. Fuller & Thaler Asset Management Inc. grew its position in shares of Simply Good Foods by 10.6% in the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 3,811,128 shares of the financial services provider's stock valued at $148,558,000 after purchasing an additional 366,072 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of Simply Good Foods by 2.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,553,864 shares of the financial services provider's stock valued at $138,528,000 after purchasing an additional 90,444 shares in the last quarter. Wellington Management Group LLP grew its position in shares of Simply Good Foods by 23.5% in the fourth quarter. Wellington Management Group LLP now owns 3,546,239 shares of the financial services provider's stock valued at $138,232,000 after purchasing an additional 674,618 shares in the last quarter. Finally, Silvercrest Asset Management Group LLC grew its position in Simply Good Foods by 1.7% during the fourth quarter. Silvercrest Asset Management Group LLC now owns 1,916,389 shares of the financial services provider's stock worth $74,701,000 after buying an additional 31,855 shares in the last quarter. 88.45% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. Wall Street Zen upgraded Simply Good Foods from a "hold" rating to a "buy" rating in a research report on Saturday, May 24th. Morgan Stanley boosted their target price on 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. DA Davidson boosted their target price on Simply Good Foods from $35.00 to $41.00 and gave the stock a "neutral" rating in a research report on Friday, April 11th. Mizuho boosted their target price on Simply Good Foods from $45.00 to $47.00 and gave the stock an "outperform" rating in a research report on Friday, April 11th. Finally, UBS Group assumed coverage on Simply Good Foods in a research report on Wednesday, April 23rd. They set a "neutral" rating and a $41.00 target price for the company. Four analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $41.00.

Insider Transactions at Simply Good Foods

In related news, SVP Stuart E. Jr. Heflin sold 5,000 shares of the stock in a transaction dated Friday, April 11th. The stock was sold at an average price of $37.25, for a total transaction of $186,250.00. Following the completion of the sale, the senior vice president now directly owns 12,839 shares in the company, valued at $478,252.75. This represents a 28.03% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 9.35% of the company's stock.

Simply Good Foods Price Performance

SMPL opened at $33.17 on Friday. The stock has a 50-day moving average price of $35.47 and a 200-day moving average price of $36.56. The Simply Good Foods Company has a 12-month low of $31.25 and a 12-month high of $40.53. The company has a current ratio of 4.23, a quick ratio of 2.75 and a debt-to-equity ratio of 0.20. The stock has a market capitalization of $3.35 billion, a P/E ratio of 23.52, a PEG ratio of 3.23 and a beta of 0.72.

Simply Good Foods (NASDAQ:SMPL - Get Free Report) last posted its quarterly earnings data on Wednesday, April 9th. The financial services provider reported $0.46 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.40 by $0.06. Simply Good Foods had a return on equity of 10.25% and a net margin of 10.40%. The firm had revenue of $359.70 million during the quarter, compared to analysts' expectations of $354.50 million. During the same period in the prior year, the business earned $0.40 EPS. The company's revenue for the quarter was up 15.2% compared to the same quarter last year. Equities analysts predict 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.

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