Intech Investment Management LLC Has $2.14 Million Position in The Simply Good Foods Company $SMPL

Key Points

• Intech Investment Management LLC increased its stake in The Simply Good Foods Company by 43.5%, now owning 62,005 shares valued at approximately $2.14 million.
• Institutional investors collectively own 88.45% of Simply Good Foods' stock, showcasing strong interest from the financial sector.
• Simply Good Foods recently reported quarterly earnings of $0.51 per share, meeting expectations, with a 13.8% revenue increase compared to the previous year.

Intech Investment Management LLC raised its position in The Simply Good Foods Company (NASDAQ:SMPL - Free Report) by 43.5% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 62,005 shares of the financial services provider's stock after buying an additional 18,801 shares during the period. Intech Investment Management LLC owned approximately 0.06% of Simply Good Foods worth $2,139,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in SMPL. BI Asset Management Fondsmaeglerselskab A S purchased a new position in Simply Good Foods in the 1st quarter valued at about $54,000. Caitong International Asset Management Co. Ltd bought a new position in shares of Simply Good Foods during the first quarter worth about $55,000. Quarry LP lifted its position in shares of Simply Good Foods by 59.7% during the first quarter. Quarry LP now owns 2,009 shares of the financial services provider's stock worth $69,000 after purchasing an additional 751 shares during the last quarter. Russell Investments Group Ltd. lifted its position in shares of Simply Good Foods by 2,055.7% during the first quarter. Russell Investments Group Ltd. now owns 3,018 shares of the financial services provider's stock worth $104,000 after purchasing an additional 2,878 shares during the last quarter. Finally, Banque Cantonale Vaudoise bought a new position in shares of Simply Good Foods during the first quarter worth about $105,000. 88.45% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CEO Geoff E. Tanner acquired 6,050 shares of the company's stock in a transaction dated Wednesday, July 23rd. The shares were bought at an average price of $33.11 per share, for a total transaction of $200,315.50. Following the acquisition, the chief executive officer owned 98,190 shares in the company, valued at $3,251,070.90. This trade represents a 6.57% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 9.35% of the stock is owned by company insiders.

Simply Good Foods Stock Down 1.9%

SMPL stock traded down $0.52 during midday trading on Friday, reaching $26.36. The company had a trading volume of 2,342,233 shares, compared to its average volume of 1,179,088. The company has a market capitalization of $2.65 billion, a P/E ratio of 18.43, a PEG ratio of 2.48 and a beta of 0.59. The company has a 50 day moving average of $29.70 and a two-hundred day moving average of $32.82. The company has a current ratio of 3.95, a quick ratio of 2.46 and a debt-to-equity ratio of 0.14. The Simply Good Foods Company has a 1 year low of $26.13 and a 1 year high of $40.53.

Simply Good Foods (NASDAQ:SMPL - Get Free Report) last released its quarterly earnings results on Thursday, July 10th. The financial services provider reported $0.51 earnings per share for the quarter, meeting analysts' consensus estimates of $0.51. The business had revenue of $380.96 million for the quarter, compared to the consensus estimate of $381.68 million. Simply Good Foods had a net margin of 9.97% and a return on equity of 10.29%. Simply Good Foods's revenue for the quarter was up 13.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.50 EPS. On average, equities research analysts expect that The Simply Good Foods Company will post 1.78 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on SMPL shares. Citigroup reduced their price target on shares of 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. Mizuho reduced their price target on shares of Simply Good Foods from $47.00 to $43.00 and set an "outperform" rating on the stock in a research report on Tuesday, July 15th. DA Davidson dropped their price objective on shares of Simply Good Foods from $42.00 to $38.00 and set a "neutral" rating on the stock in a research note on Monday, June 9th. Wall Street Zen lowered shares of Simply Good Foods from a "buy" rating to a "hold" rating in a research note on Saturday, June 21st. Finally, Stifel Nicolaus dropped their price objective on shares of Simply Good Foods from $40.00 to $38.00 and set a "buy" rating on the stock in a research note on Friday, June 27th. Five investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, Simply Good Foods currently has an average rating of "Moderate Buy" and an average target price of $39.88.

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.