9,527 Shares in The Simply Good Foods Company (NASDAQ:SMPL) Purchased by Jupiter Asset Management Ltd.

Key Points

• Jupiter Asset Management Ltd. purchased 9,527 shares of The Simply Good Foods Company, valued at approximately $329,000, marking a new position for the fund in the company.
• Institutional investors and hedge funds own 88.45% of Simply Good Foods' stock, with notable increases in holdings from firms like CIBC Private Wealth Group LLC and Nisa Investment Advisors LLC.
• The company's stock experienced a price drop to $30.02, alongside a reported quarterly revenue increase of 13.8% on a year-over-year basis, showing a strong performance despite market fluctuations.

Jupiter Asset Management Ltd. bought a new position in The Simply Good Foods Company (NASDAQ:SMPL - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 9,527 shares of the financial services provider's stock, valued at approximately $329,000.

Several other hedge funds also recently modified their holdings of SMPL. FMR LLC lifted its stake in shares of Simply Good Foods by 86.5% in the 4th quarter. FMR LLC now owns 9,566,199 shares of the financial services provider's stock valued at $372,890,000 after purchasing an additional 4,437,372 shares during the last quarter. Fuller & Thaler Asset Management Inc. lifted its position in shares of Simply Good Foods by 10.6% in the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 3,811,128 shares of the financial services provider's stock worth $148,558,000 after buying an additional 366,072 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Simply Good Foods by 2.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,553,864 shares of the financial services provider's stock worth $138,528,000 after acquiring an additional 90,444 shares in the last quarter. Silvercrest Asset Management Group LLC increased its holdings in shares of Simply Good Foods by 1.7% during the 4th quarter. Silvercrest Asset Management Group LLC now owns 1,916,389 shares of the financial services provider's stock valued at $74,701,000 after acquiring an additional 31,855 shares during the last quarter. Finally, Victory Capital Management Inc. raised its stake in shares of Simply Good Foods by 52.1% in the 1st quarter. Victory Capital Management Inc. now owns 1,539,208 shares of the financial services provider's stock valued at $53,087,000 after acquiring an additional 527,089 shares in the last quarter. Institutional investors and hedge funds own 88.45% of the company's stock.

Simply Good Foods Stock Performance

Shares of NASDAQ:SMPL traded down $0.36 on Friday, hitting $29.66. 401,717 shares of the company were exchanged, compared to its average volume of 1,101,558. The company's 50 day moving average price is $32.44 and its two-hundred day moving average price is $34.78. The firm has a market capitalization of $2.98 billion, a price-to-earnings ratio of 20.74, a PEG ratio of 2.92 and a beta of 0.59. 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 Simply Good Foods Company has a one year low of $29.51 and a one year high of $40.53.

Simply Good Foods (NASDAQ:SMPL - Get Free Report) last issued its quarterly earnings results on Thursday, July 10th. The financial services provider reported $0.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.50 by $0.01. The firm had revenue of $380,956 billion for the quarter, compared to analyst estimates of $381.68 million. Simply Good Foods had a return on equity of 10.29% and a net margin of 9.97%. The company's quarterly revenue was up 13.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.50 earnings per share. Research analysts expect that The Simply Good Foods Company will post 1.78 earnings per share for the current year.

Insider Buying and Selling

In other Simply Good Foods news, CEO Geoff E. Tanner purchased 6,050 shares of the firm's stock in a transaction on Wednesday, July 23rd. The shares were purchased at an average price 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 of the company's stock, valued at approximately $3,251,070.90. This represents a 6.57% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 9.35% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages have commented on SMPL. Mizuho lowered their price target on Simply Good Foods from $47.00 to $43.00 and set an "outperform" rating on the stock in a report on Tuesday, July 15th. Sanford C. Bernstein set a $45.00 target price on shares of Simply Good Foods and gave the company an "outperform" rating in a research note on Friday, July 11th. UBS Group set a $36.00 target price on shares of Simply Good Foods and gave the stock a "neutral" rating in a report on Tuesday, July 1st. Citigroup decreased 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 report on Wednesday, June 18th. Finally, DA Davidson lowered their price target on Simply Good Foods from $42.00 to $38.00 and set a "neutral" rating on the stock in a research report on Monday, June 9th. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target 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.