Covea Finance Acquires 35,900 Shares of The Simply Good Foods Company (NASDAQ:SMPL)

Covea Finance grew its stake in The Simply Good Foods Company (NASDAQ:SMPL - Free Report) by 21.5% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 202,500 shares of the financial services provider's stock after purchasing an additional 35,900 shares during the period. Covea Finance owned about 0.20% of Simply Good Foods worth $6,984,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. CIBC Private Wealth Group LLC increased its stake in Simply Good Foods by 72.4% in the fourth quarter. CIBC Private Wealth Group LLC now owns 1,060 shares of the financial services provider's stock valued at $38,000 after acquiring an additional 445 shares during the period. Smartleaf Asset Management LLC grew its stake in shares of Simply Good Foods by 255.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,710 shares of the financial services provider's stock valued at $66,000 after purchasing an additional 1,229 shares during the period. Quadrant Capital Group LLC raised its holdings in shares of Simply Good Foods by 13.5% in the 4th quarter. Quadrant Capital Group LLC now owns 2,517 shares of the financial services provider's stock worth $98,000 after buying an additional 300 shares in the last quarter. Parkside Financial Bank & Trust lifted its position in shares of Simply Good Foods by 119.1% during the 4th quarter. Parkside Financial Bank & Trust now owns 2,861 shares of the financial services provider's stock worth $112,000 after buying an additional 1,555 shares during the period. Finally, Covestor Ltd boosted its stake in Simply Good Foods by 45.2% in the 4th quarter. Covestor Ltd now owns 4,869 shares of the financial services provider's stock valued at $190,000 after buying an additional 1,515 shares in the last quarter. Institutional investors own 88.45% of the company's stock.

Insider Transactions at Simply Good Foods

In other news, SVP Stuart E. Jr. Heflin sold 5,000 shares of the business's stock in a transaction 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 transaction, the senior vice president now owns 12,839 shares of the company's stock, valued at $478,252.75. The trade was a 28.03% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 9.35% of the company's stock.

Simply Good Foods Trading Up 0.4%

NASDAQ:SMPL traded up $0.12 during trading hours on Tuesday, hitting $32.72. 1,145,700 shares of the stock were exchanged, compared to its average volume of 960,199. The company's 50 day moving average is $34.97 and its two-hundred day moving average is $36.03. The company has a market capitalization of $3.31 billion, a P/E ratio of 22.72, a price-to-earnings-growth ratio of 2.71 and a beta of 0.72. The Simply Good Foods Company has a twelve month low of $31.25 and a twelve month high of $40.53. The company has a quick ratio of 2.70, a current ratio of 4.27 and a debt-to-equity ratio of 0.16.

Simply Good Foods (NASDAQ:SMPL - Get Free Report) last announced its quarterly earnings data on Wednesday, April 9th. The financial services provider reported $0.46 earnings per share for the quarter, beating the consensus estimate of $0.40 by $0.06. Simply Good Foods had a net margin of 10.31% and a return on equity of 10.39%. The business had revenue of $359.70 million for the quarter, compared to analyst estimates of $354.50 million. During the same period in the prior year, the business posted $0.40 earnings per share. Simply Good Foods's revenue was up 15.2% compared to the same quarter last year. On average, sell-side analysts anticipate that The Simply Good Foods Company will post 1.78 earnings per share for the current fiscal year.

Analysts Set New Price Targets

SMPL has been the topic of several recent analyst reports. Mizuho boosted their target price on shares of Simply Good Foods from $45.00 to $47.00 and gave the company an "outperform" rating in a research note on Friday, April 11th. Wall Street Zen downgraded shares of Simply Good Foods from a "buy" rating to a "hold" rating in a report on Saturday. UBS Group initiated coverage on shares of Simply Good Foods in a research note on Wednesday, April 23rd. They set a "neutral" rating and a $41.00 price objective on the stock. DA Davidson cut their target price on shares of Simply Good Foods from $42.00 to $38.00 and set a "neutral" rating for the company in a research note on Monday, June 9th. Finally, Citigroup decreased their price target on 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. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $40.86.

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.