Mutual of America Capital Management LLC Decreases Stock Holdings in The Simply Good Foods Company (NASDAQ:SMPL)

Key Points

• Mutual of America Capital Management LLC reduced its holdings in The Simply Good Foods Company by 9.9%, owning 111,185 shares valued at approximately $3.8 million after selling 12,252 shares in the first quarter.
• CEO Geoff E. Tanner purchased 6,050 shares of the company at an average price of $33.11, increasing his ownership by 6.57% to approximately $3.25 million in shares.
• Equities analysts have adjusted ratings and target prices for Simply Good Foods, with Wall Street Zen lowering the stock from a "buy" to a "hold" rating, and several analysts setting price targets ranging from $36.00 to $45.00.

Mutual of America Capital Management LLC cut its stake in shares of The Simply Good Foods Company (NASDAQ:SMPL - Free Report) by 9.9% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 111,185 shares of the financial services provider's stock after selling 12,252 shares during the quarter. Mutual of America Capital Management LLC owned about 0.11% of Simply Good Foods worth $3,835,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of SMPL. FMR LLC increased its holdings in 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 worth $372,890,000 after buying an additional 4,437,372 shares in the last quarter. Balyasny Asset Management L.P. increased its holdings in Simply Good Foods by 3,306.7% in the 4th quarter. Balyasny Asset Management L.P. now owns 460,827 shares of the financial services provider's stock worth $17,963,000 after buying an additional 447,300 shares in the last quarter. Fuller & Thaler Asset Management Inc. increased its holdings in Simply Good Foods by 10.6% in the 4th 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 in the last quarter. Man Group plc purchased a new position in Simply Good Foods in the fourth quarter worth about $10,170,000. Finally, Freestone Grove Partners LP purchased a new position in Simply Good Foods in the fourth quarter worth about $9,804,000. 88.45% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Wall Street Zen cut Simply Good Foods from a "buy" rating to a "hold" rating in a research report on Saturday, June 21st. Stifel Nicolaus dropped their target price on Simply Good Foods from $40.00 to $38.00 and set a "buy" rating on the stock in a research report on Friday, June 27th. DA Davidson dropped their target price 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. UBS Group set a $36.00 target price on Simply Good Foods and gave the stock a "neutral" rating in a research report on Tuesday, July 1st. Finally, Sanford C. Bernstein set a $45.00 price objective on Simply Good Foods and gave the company an "outperform" rating in a research report on Friday, July 11th. Four analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, Simply Good Foods presently has a consensus rating of "Moderate Buy" and a consensus price target of $39.88.

Insiders Place Their Bets

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

Simply Good Foods Stock Performance

Shares of SMPL stock traded up $0.21 during trading hours on Tuesday, reaching $29.10. 2,003,523 shares of the company traded hands, compared to its average volume of 1,111,355. The firm has a 50-day moving average price of $32.23 and a 200 day moving average price of $34.64. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.95 and a quick ratio of 2.46. The Simply Good Foods Company has a 12-month low of $28.54 and a 12-month high of $40.53. The company has a market cap of $2.93 billion, a P/E ratio of 20.35, a P/E/G ratio of 2.89 and a beta of 0.59.

Simply Good Foods (NASDAQ:SMPL - Get Free Report) last posted its quarterly earnings results on Thursday, July 10th. The financial services provider reported $0.51 earnings per share for the quarter, topping the consensus estimate 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 business had revenue of $380,956 billion during the quarter, compared to the consensus estimate of $381.68 million. During the same period in the prior year, the company posted $0.50 EPS. The firm's revenue for the quarter was up 13.8% compared to the same quarter last year. As a group, sell-side analysts predict that The Simply Good Foods Company will post 1.78 earnings per share for the current fiscal year.

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.