SG Americas Securities LLC Invests $712,000 in The Simply Good Foods Company (NASDAQ:SMPL)

SG Americas Securities LLC purchased a new position in shares of The Simply Good Foods Company (NASDAQ:SMPL - Free Report) in the first quarter, according to its most recent disclosure with the SEC. The firm purchased 20,635 shares of the financial services provider's stock, valued at approximately $712,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Wells Fargo & Company MN lifted its position in shares of Simply Good Foods by 50.2% during the 4th quarter. Wells Fargo & Company MN now owns 45,685 shares of the financial services provider's stock worth $1,781,000 after buying an additional 15,275 shares during the period. Wealth Enhancement Advisory Services LLC bought a new stake in shares of Simply Good Foods in the fourth quarter valued at about $206,000. Smartleaf Asset Management LLC raised its holdings in Simply Good Foods by 255.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,710 shares of the financial services provider's stock worth $66,000 after acquiring an additional 1,229 shares in the last quarter. Rhumbline Advisers raised its stake in Simply Good Foods by 0.8% in the first quarter. Rhumbline Advisers now owns 255,703 shares of the financial services provider's stock valued at $8,819,000 after buying an additional 1,904 shares during the period. Finally, Cetera Investment Advisers acquired a new position in shares of Simply Good Foods in the fourth quarter valued at approximately $217,000. 88.45% of the stock is owned by hedge funds and other institutional investors.

Simply Good Foods Stock Performance

Shares of SMPL opened at $32.29 on Friday. The company has a debt-to-equity ratio of 0.16, a current ratio of 4.27 and a quick ratio of 2.70. The Simply Good Foods Company has a one year low of $31.25 and a one year high of $40.53. The company has a 50-day simple moving average of $35.07 and a two-hundred day simple moving average of $36.12. The firm has a market capitalization of $3.26 billion, a PE ratio of 22.42, a price-to-earnings-growth ratio of 2.75 and a beta of 0.72.

Simply Good Foods (NASDAQ:SMPL - Get Free Report) last announced its quarterly earnings results on Wednesday, April 9th. The financial services provider reported $0.46 earnings per share for the quarter, beating the consensus estimate of $0.40 by $0.06. The company had revenue of $359.70 million during the quarter, compared to the consensus estimate of $354.50 million. Simply Good Foods had a net margin of 10.31% and a return on equity of 10.39%. The firm's quarterly revenue was up 15.2% compared to the same quarter last year. During the same quarter last year, the firm earned $0.40 earnings per share. On average, analysts anticipate that The Simply Good Foods Company will post 1.78 EPS for the current fiscal year.

Wall Street Analyst Weigh In

SMPL has been the topic of a number of research analyst reports. Wall Street Zen downgraded Simply Good Foods from a "buy" rating to a "hold" rating in a report on Saturday. DA Davidson reduced their target price on Simply Good Foods from $42.00 to $38.00 and set a "neutral" rating on the stock in a report on Monday, June 9th. Citigroup reduced their target price on Simply Good Foods from $43.00 to $40.00 and set a "buy" rating on the stock in a report on Wednesday. UBS Group initiated coverage on Simply Good Foods in a report on Wednesday, April 23rd. They issued a "neutral" rating and a $41.00 target price on the stock. Finally, Morgan Stanley raised their target price on Simply Good Foods from $36.00 to $37.00 and gave the company an "equal weight" rating in a report on Thursday, April 10th. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $40.86.

Insider Activity at Simply Good Foods

In other news, SVP Stuart E. Jr. Heflin sold 5,000 shares of the company's stock in a transaction that occurred on Friday, April 11th. The shares were sold at an average price of $37.25, for a total value of $186,250.00. Following the completion of the sale, the senior vice president now owns 12,839 shares of the company's stock, valued at approximately $478,252.75. This represents a 28.03% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 9.35% of the stock is currently owned by insiders.

Simply Good Foods Company 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.

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