Handelsbanken Fonder AB Sells 957,200 Shares of The Simply Good Foods Company $SMPL

Key Points

• Handelsbanken Fonder AB cut its stake in Simply Good Foods by 95.9% in the fourth quarter, selling 957,200 shares and leaving it with 41,000 shares worth about $823,000.
• Insiders bought shares recently: Director James M. Kilts purchased 80,000 shares and Director Clayton C. Daley, Jr. bought 10,000 shares, signaling some internal confidence in the stock.
• Analysts remain cautious on SMPL, with a consensus rating of “Hold” and an average price target of $21.64, while the stock was trading near $11.69 after a recent earnings report that beat EPS expectations but missed revenue estimates.

Handelsbanken Fonder AB lessened its stake in shares of The Simply Good Foods Company (NASDAQ:SMPL - Free Report) by 95.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 41,000 shares of the financial services provider's stock after selling 957,200 shares during the quarter. Handelsbanken Fonder AB's holdings in Simply Good Foods were worth $823,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in Simply Good Foods by 2.4% in the 4th quarter. Vanguard Group Inc. now owns 10,631,429 shares of the financial services provider's stock valued at $213,479,000 after acquiring an additional 249,405 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in Simply Good Foods by 8.8% in the 3rd quarter. Dimensional Fund Advisors LP now owns 4,288,680 shares of the financial services provider's stock valued at $106,443,000 after acquiring an additional 346,395 shares in the last quarter. State Street Corp lifted its position in Simply Good Foods by 0.4% in the 2nd quarter. State Street Corp now owns 3,645,749 shares of the financial services provider's stock valued at $115,169,000 after acquiring an additional 14,089 shares in the last quarter. William Blair Investment Management LLC lifted its position in Simply Good Foods by 7.0% in the 3rd quarter. William Blair Investment Management LLC now owns 1,654,737 shares of the financial services provider's stock valued at $41,071,000 after acquiring an additional 108,638 shares in the last quarter. Finally, Qube Research & Technologies Ltd lifted its position in Simply Good Foods by 119.5% in the 3rd quarter. Qube Research & Technologies Ltd now owns 1,313,726 shares of the financial services provider's stock valued at $32,607,000 after acquiring an additional 715,110 shares in the last quarter. Institutional investors own 88.45% of the company's stock.

Insider Activity at Simply Good Foods

In related news, Director James M. Kilts purchased 80,000 shares of the firm's stock in a transaction dated Thursday, April 23rd. The stock was bought at an average price of $12.39 per share, for a total transaction of $991,200.00. Following the purchase, the director directly owned 172,854 shares in the company, valued at approximately $2,141,661.06. This trade represents a 86.16% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Clayton C. Daley, Jr. acquired 10,000 shares of Simply Good Foods stock in a transaction that occurred on Thursday, May 14th. The stock was acquired at an average price of $11.78 per share, with a total value of $117,800.00. Following the completion of the purchase, the director directly owned 111,743 shares in the company, valued at $1,316,332.54. This represents a 9.83% increase in their position. The SEC filing for this purchase provides additional information. Company insiders own 8.76% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on SMPL shares. DA Davidson reaffirmed a "neutral" rating and issued a $39.00 price target on shares of Simply Good Foods in a research report on Friday, April 10th. Morgan Stanley dropped their price target on shares of Simply Good Foods from $24.00 to $14.00 and set an "equal weight" rating on the stock in a research report on Friday, April 10th. UBS Group dropped their price target on shares of Simply Good Foods from $16.00 to $13.00 and set a "neutral" rating on the stock in a research report on Friday, April 10th. Mizuho set a $19.00 price objective on shares of Simply Good Foods in a research note on Monday, May 4th. Finally, BTIG Research began coverage on shares of Simply Good Foods in a research note on Monday, April 13th. They issued a "neutral" rating for the company. Five investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat, Simply Good Foods currently has an average rating of "Hold" and a consensus price target of $21.64.

Simply Good Foods Trading Up 2.5%

Shares of SMPL stock opened at $11.69 on Thursday. The company has a 50 day moving average of $12.82 and a 200-day moving average of $16.56. The company has a quick ratio of 2.87, a current ratio of 5.06 and a debt-to-equity ratio of 0.27. The Simply Good Foods Company has a 12-month low of $10.21 and a 12-month high of $35.15. The firm has a market cap of $1.06 billion, a P/E ratio of -9.82 and a beta of 0.21.

Simply Good Foods (NASDAQ:SMPL - Get Free Report) last issued its quarterly earnings results on Thursday, April 9th. The financial services provider reported $0.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.40 by $0.05. Simply Good Foods had a negative net margin of 7.46% and a positive return on equity of 9.72%. The company had revenue of $326.01 million during the quarter, compared to analyst estimates of $345.08 million. During the same quarter last year, the business posted $0.46 EPS. Simply Good Foods's quarterly revenue was down 9.4% compared to the same quarter last year. Sell-side analysts anticipate that The Simply Good Foods Company will post 1.54 earnings per share for the current year.

Simply Good Foods Profile

Simply Good Foods Co NASDAQ: SMPL is a North American consumer packaged foods company specializing in better-for-you nutrition products. The company’s portfolio centers on two well-established brands, Atkins and Quest, which offer a range of low-carbohydrate, high-protein bars, powders, shakes, and snacks. Simply Good Foods aims to support consumers’ health and wellness goals by delivering convenient, nutrient-dense options without added sugars or artificial sweeteners.

Under the Atkins brand, the company produces meal replacements, snack bars, and ready-to-drink shakes designed for low-carb dieters.

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