Nuveen LLC Acquires New Holdings in The Simply Good Foods Company $SMPL

Key Points

• Nuveen LLC invested $14.15 million in The Simply Good Foods Company, acquiring approximately 410,294 shares, which represents 0.41% of the company.
• Simply Good Foods reported a quarterly EPS of $0.51, surpassing analysts' expectations, with a revenue of approximately $381 million, reflecting a 13.8% year-over-year increase.
• Investment analysts' consensus ratings for Simply Good Foods show a "Moderate Buy" with a target price averaging around $39.88, indicating bullish sentiment from several research firms.

Nuveen LLC bought a new stake in shares of The Simply Good Foods Company (NASDAQ:SMPL - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund bought 410,294 shares of the financial services provider's stock, valued at approximately $14,151,000. Nuveen LLC owned approximately 0.41% of Simply Good Foods at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP raised its stake in shares of Simply Good Foods by 2.6% in 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 buying an additional 90,444 shares in the last quarter. Silvercrest Asset Management Group LLC raised its stake in shares of Simply Good Foods by 1.7% in the 4th quarter. Silvercrest Asset Management Group LLC now owns 1,916,389 shares of the financial services provider's stock worth $74,701,000 after buying an additional 31,855 shares in the last quarter. 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 worth $53,087,000 after buying an additional 527,089 shares in the last quarter. Handelsbanken Fonder AB raised its stake in shares of Simply Good Foods by 25.2% in the 1st quarter. Handelsbanken Fonder AB now owns 1,240,500 shares of the financial services provider's stock worth $42,785,000 after buying an additional 250,000 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Simply Good Foods by 0.6% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,040,013 shares of the financial services provider's stock worth $35,870,000 after buying an additional 6,129 shares in the last quarter. Institutional investors own 88.45% of the company's stock.

Simply Good Foods Stock Up 1.3%

NASDAQ SMPL traded up $0.38 on Wednesday, reaching $29.12. The stock had a trading volume of 612,167 shares, compared to its average volume of 1,255,430. The business has a 50 day moving average price of $31.21 and a 200 day moving average price of $33.97. 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 Simply Good Foods Company has a 1 year low of $28.14 and a 1 year high of $40.53. The company has a market capitalization of $2.93 billion, a price-to-earnings ratio of 20.36, a P/E/G ratio of 2.82 and a beta of 0.59.

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

Insider Buying and Selling at Simply Good Foods

In related news, CEO Geoff E. Tanner acquired 6,050 shares of the business's stock in a transaction that occurred on 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 purchase, 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 ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 9.35% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on SMPL. Wall Street Zen downgraded Simply Good Foods from a "buy" rating to a "hold" rating in a research note on Saturday, June 21st. Citigroup dropped their price objective on Simply Good Foods from $43.00 to $40.00 and set a "buy" rating on the stock in a research note on Wednesday, June 18th. UBS Group set a $36.00 price objective on Simply Good Foods and gave the stock a "neutral" rating in a research note on Tuesday, July 1st. Sanford C. Bernstein set a $45.00 price objective on Simply Good Foods and gave the stock an "outperform" rating in a research note on Friday, July 11th. Finally, DA Davidson dropped their price objective on 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. Five equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, Simply Good Foods has an average rating of "Moderate Buy" and an average target price 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.