Sei Investments Co. Increases Stake in The Simply Good Foods Company $SMPL

Key Points

• Sei Investments increased its Simply Good Foods stake by 1,049.1% in the first quarter, holding 143,874 shares worth approximately $2.1 million. Institutional investors collectively own 88.45% of the company.
• Analyst sentiment remains cautious, with three Buy, nine Hold, and one Sell rating; the consensus rating is Hold with a $15.20 price target.
• Simply Good Foods reported quarterly EPS of $0.42, exceeding expectations of $0.35, while revenue reached $356.98 million but declined 6.3% year over year. Shares opened at $11.10, near the lower end of their $9.88–$30.36 one-year range.

Sei Investments Co. boosted its position in The Simply Good Foods Company (NASDAQ:SMPL - Free Report) by 1,049.1% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 143,874 shares of the financial services provider's stock after acquiring an additional 131,353 shares during the period. Sei Investments Co. owned 0.16% of Simply Good Foods worth $2,065,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. EverSource Wealth Advisors LLC boosted its position in Simply Good Foods by 125.4% during the second quarter. EverSource Wealth Advisors LLC now owns 967 shares of the financial services provider's stock worth $31,000 after purchasing an additional 538 shares during the period. Johnson Financial Group Inc. bought a new stake in shares of Simply Good Foods in the third quarter valued at approximately $36,000. Hantz Financial Services Inc. lifted its stake in shares of Simply Good Foods by 82.3% during the 4th quarter. Hantz Financial Services Inc. now owns 1,787 shares of the financial services provider's stock valued at $36,000 after buying an additional 807 shares in the last quarter. Parallel Advisors LLC lifted its stake in shares of Simply Good Foods by 167.4% during the 4th quarter. Parallel Advisors LLC now owns 2,126 shares of the financial services provider's stock valued at $43,000 after buying an additional 1,331 shares in the last quarter. Finally, Leonteq Securities AG lifted its stake in shares of Simply Good Foods by 96.2% during the 1st quarter. Leonteq Securities AG now owns 2,309 shares of the financial services provider's stock valued at $33,000 after buying an additional 1,132 shares in the last quarter. 88.45% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

SMPL has been the subject of a number of recent research reports. TD Cowen reiterated a "hold" rating on shares of Simply Good Foods in a research note on Friday, July 10th. Mizuho set a $19.00 target price on Simply Good Foods in a research note on Monday, May 4th. Weiss Ratings reaffirmed a "sell (d)" rating on shares of Simply Good Foods in a report on Thursday, June 18th. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and set a $14.00 price target on shares of Simply Good Foods in a research report on Friday, July 10th. Finally, Zacks Research raised shares of Simply Good Foods from a "strong sell" rating to a "hold" rating in a report on Monday, June 8th. Three investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $15.20.

Simply Good Foods Stock Performance

Shares of SMPL opened at $11.10 on Monday. The firm's 50 day simple moving average is $11.98 and its 200 day simple moving average is $13.73. The company has a market capitalization of $981.91 million, a P/E ratio of -5.12 and a beta of 0.15. The company has a debt-to-equity ratio of 0.28, a current ratio of 4.80 and a quick ratio of 3.10. The Simply Good Foods Company has a 1-year low of $9.88 and a 1-year high of $30.36.

Simply Good Foods (NASDAQ:SMPL - Get Free Report) last announced its earnings results on Thursday, July 9th. The financial services provider reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.07. Simply Good Foods had a negative net margin of 14.28% and a positive return on equity of 9.34%. The business had revenue of $356.98 million during the quarter, compared to analyst estimates of $332.99 million. During the same period in the previous year, the business posted $0.51 earnings per share. Simply Good Foods's revenue for the quarter was down 6.3% on a year-over-year basis. Sell-side analysts forecast that The Simply Good Foods Company will post 1.54 earnings per share for the current fiscal year.

Insider Buying and Selling at Simply Good Foods

In related news, Director Clayton C. Daley, Jr. acquired 10,000 shares of the company's stock in a transaction dated Thursday, May 14th. The stock was bought at an average cost of $11.78 per share, with a total value of $117,800.00. Following the acquisition, the director owned 111,743 shares of the company's stock, valued at approximately $1,316,332.54. The trade was a 9.83% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 8.76% of the company's stock.

Simply Good Foods Company Profile

Simply Good Foods Co NASDAQ: SMPL is a North American consumer packaged foods company specializing in better-for-you nutrition products. The company’s portfolio centers on two well-established brands, Atkins and Quest, which offer a range of low-carbohydrate, high-protein bars, powders, shakes, and snacks. Simply Good Foods aims to support consumers’ health and wellness goals by delivering convenient, nutrient-dense options without added sugars or artificial sweeteners.

Under the Atkins brand, the company produces meal replacements, snack bars, and ready-to-drink shakes designed for low-carb dieters.

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