The Simply Good Foods Company (NASDAQ:SMPL) Position Trimmed by Mutual of America Capital Management LLC

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 decreased its stake in The Simply Good Foods Company (NASDAQ:SMPL - Free Report) by 9.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm 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 approximately 0.11% of Simply Good Foods worth $3,835,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. Wells Fargo & Company MN boosted its holdings 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. Wealth Enhancement Advisory Services LLC purchased a new stake in shares of Simply Good Foods in the 4th quarter valued at approximately $206,000. Assenagon Asset Management S.A. purchased a new stake in shares of Simply Good Foods in the 1st quarter valued at approximately $1,437,000. SG Americas Securities LLC purchased a new stake in shares of Simply Good Foods in the 1st quarter valued at approximately $712,000. Finally, Nisa Investment Advisors LLC raised its stake in shares of Simply Good Foods by 24.7% in the 1st quarter. Nisa Investment Advisors LLC now owns 3,808 shares of the financial services provider's stock valued at $131,000 after acquiring an additional 754 shares during the period. Institutional investors and hedge funds own 88.45% of the company's stock.

Simply Good Foods Stock Up 1.5%

Shares of NASDAQ SMPL traded up $0.44 during trading on Wednesday, reaching $29.53. 1,653,663 shares of the stock were exchanged, compared to its average volume of 1,118,351. The business's 50-day moving average price is $32.12 and its 200 day moving average price is $34.60. The Simply Good Foods Company has a twelve month low of $28.54 and a twelve month high of $40.53. The company has a quick ratio of 2.46, a current ratio of 3.95 and a debt-to-equity ratio of 0.14. The company has a market capitalization of $2.97 billion, a price-to-earnings ratio of 20.65, a price-to-earnings-growth ratio of 2.83 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 (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 analysts' expectations of $381.68 million. Simply Good Foods had a net margin of 9.97% and a return on equity of 10.29%. The firm's quarterly revenue was up 13.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.50 earnings per share. As a group, equities analysts forecast that The Simply Good Foods Company will post 1.78 EPS for the current fiscal year.

Insider Transactions at Simply Good Foods

In related news, CEO Geoff E. Tanner purchased 6,050 shares of the business's stock in a transaction that occurred on Wednesday, July 23rd. The shares were purchased at an average cost of $33.11 per share, with a total value of $200,315.50. Following the completion of 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 position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 9.35% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on SMPL. UBS Group set a $36.00 price target on shares of Simply Good Foods and gave the company a "neutral" rating in a research note on Tuesday, July 1st. Wall Street Zen downgraded shares of Simply Good Foods from a "buy" rating to a "hold" rating in a research report on Saturday, June 21st. 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 research note on Wednesday, June 18th. DA Davidson lowered their target price 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. Finally, Stifel Nicolaus reduced their price objective on shares of Simply Good Foods from $40.00 to $38.00 and set a "buy" rating for the company in a research note on Friday, June 27th. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $39.88.

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.