Invesco Ltd. Has $13.13 Million Holdings in The Simply Good Foods Company $SMPL

Key Points

• Invesco Ltd. reduced its stake in The Simply Good Foods Company by 5.4% in the 1st quarter, now holding approximately 0.38% of the company's shares worth $13.1 million.
• CEO Geoff E. Tanner purchased 6,050 shares of the company, increasing his total ownership by 6.57% and valuing his shares at around $3.25 million.
• Analysts have set a consensus price target of $39.88 for Simply Good Foods, with ratings reflecting five buy and three hold assessments on the stock.

Invesco Ltd. lessened its holdings in shares of The Simply Good Foods Company (NASDAQ:SMPL - Free Report) by 5.4% in the first quarter, according to its most recent filing with the SEC. The firm owned 380,756 shares of the financial services provider's stock after selling 21,616 shares during the period. Invesco Ltd. owned 0.38% of Simply Good Foods worth $13,132,000 as of its most recent filing with the SEC.

Other institutional investors have also added to or reduced their stakes in the company. LPL Financial LLC increased its stake in shares of Simply Good Foods by 3.3% during the 4th quarter. LPL Financial LLC now owns 9,890 shares of the financial services provider's stock worth $386,000 after purchasing an additional 315 shares during the last quarter. Wells Fargo & Company MN lifted its stake in Simply Good Foods by 50.2% in the 4th quarter. Wells Fargo & Company MN now owns 45,685 shares of the financial services provider's stock valued at $1,781,000 after purchasing an additional 15,275 shares during the last quarter. Raymond James Financial Inc. bought a new position in shares of Simply Good Foods during the fourth quarter valued at $1,863,000. Mariner LLC acquired a new position in shares of Simply Good Foods during the fourth quarter valued at about $288,000. Finally, XTX Topco Ltd purchased a new position in Simply Good Foods during the fourth quarter worth about $250,000. 88.45% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have commented on SMPL shares. UBS Group set a $36.00 price target on shares of Simply Good Foods and gave the stock a "neutral" rating in a research note on Tuesday, July 1st. DA Davidson dropped their price target on shares of Simply Good Foods from $42.00 to $38.00 and set a "neutral" rating on the stock in a report on Monday, June 9th. Wall Street Zen cut shares of Simply Good Foods from a "buy" rating to a "hold" rating in a research note on Saturday, June 21st. Sanford C. Bernstein set a $45.00 target price on shares of Simply Good Foods and gave the company an "outperform" rating in a report on Friday, July 11th. Finally, Citigroup decreased their target price on 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. Five equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat.com, Simply Good Foods presently has an average rating of "Moderate Buy" and a consensus target price of $39.88.

Simply Good Foods Stock Down 1.3%

SMPL stock traded down $0.39 during trading on Thursday, hitting $28.74. 446,515 shares of the company's stock were exchanged, compared to its average volume of 1,117,665. 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 52-week low of $28.14 and a 52-week high of $40.53. The business has a 50-day moving average price of $31.21 and a two-hundred day moving average price of $33.97. The stock has a market capitalization of $2.89 billion, a price-to-earnings ratio of 20.09, a PEG ratio of 2.82 and a beta of 0.59.

Simply Good Foods (NASDAQ:SMPL - Get Free Report) last announced its quarterly earnings data on Thursday, July 10th. The financial services provider reported $0.51 earnings per share for the quarter, topping analysts' consensus estimates of $0.50 by $0.01. Simply Good Foods had a return on equity of 10.29% and a net margin of 9.97%.The firm had revenue of $380,956 billion for the quarter, compared to analyst estimates of $381.68 million. During the same quarter in the prior year, the company 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, equities research analysts expect that The Simply Good Foods Company will post 1.78 EPS for the current year.

Insider Transactions at Simply Good Foods

In other news, CEO Geoff E. Tanner bought 6,050 shares of the firm's stock in a transaction dated Wednesday, July 23rd. The stock was bought at an average price of $33.11 per share, for a total transaction of $200,315.50. Following the transaction, the chief executive officer owned 98,190 shares in the company, valued at $3,251,070.90. The trade was a 6.57% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this link. 9.35% of the stock is owned by corporate insiders.

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.