Schwartz Investment Counsel Inc. Grows Holdings in The Simply Good Foods Company $SMPL

Key Points

• Schwartz Investment Counsel Inc. increased its stake in The Simply Good Foods Company by 21.9%, owning 436,870 shares valued at approximately $13.8 million as of its latest SEC filing.
• Multiple institutional investors, including Quarry LP and Russell Investments Group Ltd., have significantly altered their positions, with Russell increasing its stake by 2,055.7%.
• Analysts have mixed ratings for Simply Good Foods, with target prices ranging from $27 to $45, and an average rating of "Moderate Buy."

Schwartz Investment Counsel Inc. grew its stake in The Simply Good Foods Company (NASDAQ:SMPL - Free Report) by 21.9% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 436,870 shares of the financial services provider's stock after acquiring an additional 78,500 shares during the period. Schwartz Investment Counsel Inc. owned about 0.43% of Simply Good Foods worth $13,801,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in Simply Good Foods during the 1st quarter worth approximately $54,000. Caitong International Asset Management Co. Ltd purchased a new stake in Simply Good Foods during the 1st quarter worth approximately $55,000. Quarry LP increased its stake in Simply Good Foods by 59.7% during the 1st quarter. Quarry LP now owns 2,009 shares of the financial services provider's stock worth $69,000 after buying an additional 751 shares during the period. Russell Investments Group Ltd. increased its stake in Simply Good Foods by 2,055.7% during the 1st quarter. Russell Investments Group Ltd. now owns 3,018 shares of the financial services provider's stock worth $104,000 after buying an additional 2,878 shares during the period. Finally, Banque Cantonale Vaudoise purchased a new stake in Simply Good Foods during the 1st quarter worth approximately $105,000. 88.45% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CEO Geoff E. Tanner bought 6,050 shares of the stock in a transaction dated Wednesday, July 23rd. The stock was acquired at an average price of $33.11 per share, for a total transaction of $200,315.50. Following the acquisition, the chief executive officer owned 98,190 shares in the company, valued at approximately $3,251,070.90. This represents a 6.57% increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 9.35% of the stock is owned by company insiders.

Simply Good Foods Trading Up 2.4%

NASDAQ SMPL opened at $25.15 on Tuesday. 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 Simply Good Foods Company has a 52 week low of $23.50 and a 52 week high of $40.53. The stock has a market capitalization of $2.53 billion, a PE ratio of 17.59, a price-to-earnings-growth ratio of 2.62 and a beta of 0.53. The firm has a 50 day moving average of $26.74 and a two-hundred day moving average of $31.36.

Wall Street Analysts Forecast Growth

SMPL has been the topic of several recent research reports. Stifel Nicolaus cut their target price 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. Sanford C. Bernstein set a $45.00 target price on shares of Simply Good Foods and gave the stock an "outperform" rating in a research note on Friday, July 11th. UBS Group cut their target price on shares of Simply Good Foods from $36.00 to $27.00 and set a "neutral" rating on the stock in a research note on Wednesday, October 8th. Mizuho cut their target price 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, Morgan Stanley set a $28.00 price target on shares of Simply Good Foods in a report on Thursday. Five equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $37.63.

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.

Want to see what other hedge funds are holding SMPL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Simply Good Foods Company (NASDAQ:SMPL - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.