The Simply Good Foods Company $SMPL Shares Acquired by Gabelli Funds LLC

Key Points

• Gabelli Funds LLC increased its stake in The Simply Good Foods Company by 14.4%, holding approximately 99,500 shares valued at around $3.43 million.
• Simply Good Foods recently reported $0.51 earnings per share, matching analyst estimates, with a revenue of $380.96 million, up 13.8% year-over-year.
• Several analysts have revised their price targets for Simply Good Foods, with Citigroup lowering theirs from $43.00 to $40.00, while maintaining a "buy" rating.

Gabelli Funds LLC lifted its position in shares of The Simply Good Foods Company (NASDAQ:SMPL - Free Report) by 14.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 99,500 shares of the financial services provider's stock after purchasing an additional 12,500 shares during the period. Gabelli Funds LLC owned about 0.10% of Simply Good Foods worth $3,432,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in shares of Simply Good Foods during the 1st quarter worth $54,000. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Simply Good Foods during the 1st quarter worth $55,000. Russell Investments Group Ltd. lifted its position in Simply Good Foods by 2,055.7% in the first quarter. Russell Investments Group Ltd. now owns 3,018 shares of the financial services provider's stock valued at $104,000 after acquiring an additional 2,878 shares during the last quarter. Banque Cantonale Vaudoise purchased a new stake in Simply Good Foods in the first quarter valued at $105,000. Finally, Nisa Investment Advisors LLC lifted its position in Simply Good Foods by 24.7% in the first quarter. Nisa Investment Advisors LLC now owns 3,808 shares of the financial services provider's stock valued at $131,000 after acquiring an additional 754 shares during the last quarter. 88.45% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

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

Simply Good Foods Stock Performance

NASDAQ SMPL traded down $0.13 during trading on Thursday, reaching $28.53. The company's stock had a trading volume of 1,512,994 shares, compared to its average volume of 1,157,847. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.46 and a current ratio of 3.95. The firm has a market cap of $2.87 billion, a price-to-earnings ratio of 19.95, a P/E/G ratio of 2.65 and a beta of 0.59. The Simply Good Foods Company has a twelve month low of $28.14 and a twelve month high of $40.53. The business's fifty day moving average price is $30.76 and its 200-day moving average price is $33.58.

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

Analysts Set New Price Targets

SMPL has been the subject of a number of research reports. Wall Street Zen cut shares of Simply Good Foods from a "buy" rating to a "hold" rating in a research report on Saturday, June 21st. UBS Group set a $36.00 price target on shares of Simply Good Foods and gave the company a "neutral" rating in a research report on Tuesday, July 1st. Sanford C. Bernstein set a $45.00 price target on shares of Simply Good Foods and gave the company an "outperform" rating in a research report on Friday, July 11th. Citigroup reduced their price target on shares of Simply Good Foods from $43.00 to $40.00 and set a "buy" rating for the company in a research report on Wednesday, June 18th. Finally, Stifel Nicolaus reduced their price target on shares of Simply Good Foods from $40.00 to $38.00 and set a "buy" rating for the company in a research report on Friday, June 27th. Five research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $39.88.

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.