Covea Finance Raises Stock Position in The Simply Good Foods Company (NASDAQ:SMPL)

Covea Finance increased its holdings in shares of The Simply Good Foods Company (NASDAQ:SMPL - Free Report) by 21.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 202,500 shares of the financial services provider's stock after acquiring an additional 35,900 shares during the period. Covea Finance owned approximately 0.20% of Simply Good Foods worth $6,984,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the business. FMR LLC raised its position in shares of Simply Good Foods by 86.5% in the 4th quarter. FMR LLC now owns 9,566,199 shares of the financial services provider's stock worth $372,890,000 after purchasing an additional 4,437,372 shares during the last quarter. Fuller & Thaler Asset Management Inc. increased its stake in Simply Good Foods by 10.6% during the 4th 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 raised its holdings in 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 worth $138,528,000 after buying an additional 90,444 shares during the last quarter. Wellington Management Group LLP grew its holdings in shares of Simply Good Foods by 23.5% during 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 buying an additional 674,618 shares during the last quarter. Finally, Silvercrest Asset Management Group LLC raised its holdings in Simply Good Foods by 1.7% in the 4th quarter. Silvercrest Asset Management Group LLC now owns 1,916,389 shares of the financial services provider's stock worth $74,701,000 after acquiring an additional 31,855 shares during the last quarter. Institutional investors own 88.45% of the company's stock.

Analysts Set New Price Targets

SMPL has been the topic of a number of research analyst reports. 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. Morgan Stanley increased their price objective on shares of Simply Good Foods from $36.00 to $37.00 and gave the company an "equal weight" rating in a research report on Thursday, April 10th. UBS Group started coverage on shares of Simply Good Foods in a research note on Wednesday, April 23rd. They set a "neutral" rating and a $41.00 target price for the company. Mizuho increased their price target on Simply Good Foods from $45.00 to $47.00 and gave the company an "outperform" rating in a report on Friday, April 11th. Finally, Wall Street Zen downgraded Simply Good Foods from a "buy" rating to a "hold" rating in a research note on Saturday. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $40.86.

Insider Activity at Simply Good Foods

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

Simply Good Foods Stock Performance

NASDAQ SMPL traded down $0.50 during trading hours on Friday, hitting $32.29. 941,870 shares of the company's stock traded hands, compared to its average volume of 960,269. The Simply Good Foods Company has a 52 week low of $31.25 and a 52 week high of $40.53. The firm has a market capitalization of $3.26 billion, a P/E ratio of 22.42, a P/E/G ratio of 2.71 and a beta of 0.72. The company has a current ratio of 4.27, a quick ratio of 2.70 and a debt-to-equity ratio of 0.16. The business's fifty day moving average price is $35.07 and its two-hundred day moving average price is $36.08.

Simply Good Foods (NASDAQ:SMPL - Get Free Report) last issued its quarterly earnings results on Wednesday, April 9th. The financial services provider reported $0.46 earnings per share for the quarter, topping the consensus estimate of $0.40 by $0.06. The business had revenue of $359.70 million for the quarter, compared to analysts' expectations of $354.50 million. Simply Good Foods had a net margin of 10.31% and a return on equity of 10.39%. The company's revenue was up 15.2% compared to the same quarter last year. During the same quarter last year, the company posted $0.40 EPS. Equities research analysts predict that The Simply Good Foods Company will post 1.78 EPS for the current 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.