Northern Trust Corp Has $34.81 Million Stock Holdings in The Simply Good Foods Company $SMPL

Key Points

• Northern Trust Corp increased its stake in The Simply Good Foods Company by 1.0%, now holding 1,009,257 shares valued at approximately $34.81 million.
• Analysts have mixed ratings on Simply Good Foods, with a consensus price target of $39.88 and five analysts rating it as a "Buy" while three issued a "Hold" rating.
• CEO Geoff E. Tanner bought 6,050 shares at around $33.11 each, raising his ownership to 98,190 shares valued at about $3.25 million.

Northern Trust Corp grew its holdings in shares of The Simply Good Foods Company (NASDAQ:SMPL - Free Report) by 1.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,009,257 shares of the financial services provider's stock after buying an additional 9,802 shares during the quarter. Northern Trust Corp owned approximately 1.00% of Simply Good Foods worth $34,809,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of SMPL. Raymond James Financial Inc. bought a new stake in shares of Simply Good Foods in the 4th quarter valued at about $1,863,000. Mariner LLC bought a new stake in shares of Simply Good Foods in the 4th quarter valued at about $288,000. Lido Advisors LLC bought a new stake in shares of Simply Good Foods in the 4th quarter valued at about $251,000. Freestone Grove Partners LP bought a new stake in shares of Simply Good Foods in the 4th quarter valued at about $9,804,000. Finally, BNP Paribas Financial Markets raised its holdings in shares of Simply Good Foods by 138.4% in the 4th quarter. BNP Paribas Financial Markets now owns 216,341 shares of the financial services provider's stock valued at $8,433,000 after purchasing an additional 125,608 shares during the period. 88.45% of the stock is owned by institutional investors.

Simply Good Foods Stock Performance

Shares of NASDAQ:SMPL traded down $0.01 on Monday, reaching $28.63. 1,012,839 shares of the company's stock were exchanged, compared to its average volume of 1,189,097. The company has a fifty day moving average of $30.97 and a 200-day moving average of $33.71. The Simply Good Foods Company has a twelve month low of $28.14 and a twelve month high of $40.53. The company has a market capitalization of $2.88 billion, a price-to-earnings ratio of 20.02, a PEG ratio of 2.81 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.

Simply Good Foods (NASDAQ:SMPL - Get Free Report) last announced its earnings results on Thursday, July 10th. The financial services provider reported $0.51 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.51. The firm had revenue of $380.96 million for the quarter, compared to analyst estimates of $381.68 million. Simply Good Foods had a net margin of 9.97% and a return on equity of 10.29%. The business's revenue was up 13.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.50 EPS. On average, research analysts predict that The Simply Good Foods Company will post 1.78 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

SMPL has been the topic of a number of research analyst reports. Citigroup dropped their target price on shares of Simply Good Foods from $43.00 to $40.00 and set a "buy" rating on the stock in a report on Wednesday, June 18th. Sanford C. Bernstein set a $45.00 price target on shares of Simply Good Foods and gave the company an "outperform" rating in a research note on Friday, July 11th. Wall Street Zen lowered shares of Simply Good Foods from a "buy" rating to a "hold" rating in a research note on Saturday, June 21st. 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. Finally, 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. Five equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $39.88.

Insider Activity

In other news, CEO Geoff E. Tanner purchased 6,050 shares of Simply Good Foods stock in a transaction that occurred on Wednesday, July 23rd. The shares were acquired 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 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 is available through this link. Corporate insiders own 9.35% of the company's stock.

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.