Norden Group LLC Lowers Stock Position in The Simply Good Foods Company (NASDAQ:SMPL)

Key Points

• Norden Group LLC reduced its holdings in The Simply Good Foods Company by 48.4% during the first quarter, now owning 8,788 shares worth approximately $303,000.
• Several institutional investors, including CIBC Private Wealth Group LLC and Nisa Investment Advisors LLC, have increased their stakes in Simply Good Foods, indicating strong interest in the stock.
• The company recently reported an earnings per share (EPS) of $0.51, exceeding analyst estimates, and experienced a revenue growth of 13.8% year-over-year.

Norden Group LLC lessened its stake in The Simply Good Foods Company (NASDAQ:SMPL - Free Report) by 48.4% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,788 shares of the financial services provider's stock after selling 8,254 shares during the quarter. Norden Group LLC's holdings in Simply Good Foods were worth $303,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. FMR LLC boosted its holdings in Simply Good Foods by 86.5% during the fourth quarter. FMR LLC now owns 9,566,199 shares of the financial services provider's stock worth $372,890,000 after purchasing an additional 4,437,372 shares during the last quarter. Norges Bank acquired a new position in Simply Good Foods during the fourth quarter worth $44,006,000. Wellington Management Group LLP boosted its holdings in Simply Good Foods by 23.5% during the fourth quarter. Wellington Management Group LLP now owns 3,546,239 shares of the financial services provider's stock worth $138,232,000 after purchasing an additional 674,618 shares during the last quarter. Victory Capital Management Inc. boosted its holdings in Simply Good Foods by 52.1% during the first quarter. Victory Capital Management Inc. now owns 1,539,208 shares of the financial services provider's stock worth $53,087,000 after purchasing an additional 527,089 shares during the last quarter. Finally, Balyasny Asset Management L.P. raised its position in Simply Good Foods by 3,306.7% during the fourth quarter. Balyasny Asset Management L.P. now owns 460,827 shares of the financial services provider's stock worth $17,963,000 after acquiring an additional 447,300 shares in the last quarter. Institutional investors and hedge funds own 88.45% of the company's stock.

Simply Good Foods Price Performance

Shares of Simply Good Foods stock traded down $0.41 on Friday, reaching $30.05. The stock had a trading volume of 916,053 shares, compared to its average volume of 1,491,180. The Simply Good Foods Company has a 1 year low of $30.01 and a 1 year high of $40.53. The company has a market cap of $3.02 billion, a P/E ratio of 21.01, a price-to-earnings-growth ratio of 2.95 and a beta of 0.59. 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 business's 50 day moving average is $32.79 and its two-hundred day moving average is $34.89.

Simply Good Foods (NASDAQ:SMPL - Get Free Report) last announced its quarterly earnings results on Thursday, July 10th. The financial services provider reported $0.51 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.50 by $0.01. The firm had revenue of $380,956 billion 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%. The company's revenue for the quarter was up 13.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.50 earnings per share. As a group, research analysts anticipate that The Simply Good Foods Company will post 1.78 EPS for the current year.

Insider Buying and Selling

In other Simply Good Foods news, CEO Geoff E. Tanner purchased 6,050 shares of Simply Good Foods stock in a transaction on Wednesday, July 23rd. The shares were acquired at an average cost of $33.11 per share, for a total transaction of $200,315.50. Following the completion of the transaction, 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 purchase was disclosed in a filing with the SEC, which is available through this hyperlink. 9.35% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

SMPL has been the topic of several analyst reports. Morgan Stanley upped their price target on shares of Simply Good Foods from $36.00 to $37.00 and gave the stock an "equal weight" rating in a research report on Thursday, April 10th. Stifel Nicolaus decreased their price target 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. DA Davidson reduced 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. Mizuho reduced their price objective on shares of Simply Good Foods from $47.00 to $43.00 and set an "outperform" rating on the stock in a research note on Tuesday, July 15th. Finally, Wall Street Zen downgraded shares of Simply Good Foods from a "buy" rating to a "hold" rating in a research note on Saturday, June 21st. Four analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target 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.