Stephens Investment Management Group LLC Invests $14.51 Million in The Simply Good Foods Company (NASDAQ:SMPL)

Stephens Investment Management Group LLC purchased a new position in The Simply Good Foods Company (NASDAQ:SMPL - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 420,671 shares of the financial services provider's stock, valued at approximately $14,509,000. Stephens Investment Management Group LLC owned 0.42% of Simply Good Foods as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. CIBC Private Wealth Group LLC increased its position in shares of Simply Good Foods by 72.4% during the fourth quarter. CIBC Private Wealth Group LLC now owns 1,060 shares of the financial services provider's stock worth $38,000 after acquiring an additional 445 shares during the period. Quadrant Capital Group LLC increased its position in shares of Simply Good Foods by 13.5% during the fourth quarter. Quadrant Capital Group LLC now owns 2,517 shares of the financial services provider's stock worth $98,000 after acquiring an additional 300 shares during the period. Nisa Investment Advisors LLC increased its position in shares of Simply Good Foods by 24.7% during the first quarter. Nisa Investment Advisors LLC now owns 3,808 shares of the financial services provider's stock worth $131,000 after acquiring an additional 754 shares during the period. Covestor Ltd increased its position in shares of Simply Good Foods by 45.2% during the fourth quarter. Covestor Ltd now owns 4,869 shares of the financial services provider's stock worth $190,000 after acquiring an additional 1,515 shares during the period. Finally, Wealth Enhancement Advisory Services LLC purchased a new position in shares of Simply Good Foods during the fourth quarter worth approximately $206,000. 88.45% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on SMPL. Citigroup cut their price objective 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. DA Davidson cut their price objective on shares of Simply Good Foods from $42.00 to $38.00 and set a "neutral" rating on the stock in a report on Monday, June 9th. Stifel Nicolaus cut their price objective on shares of Simply Good Foods from $40.00 to $38.00 and set a "buy" rating on the stock in a report on Friday, June 27th. Morgan Stanley lifted their price objective on shares of Simply Good Foods from $36.00 to $37.00 and gave the company an "equal weight" rating in a report on Thursday, April 10th. Finally, Mizuho lifted their price objective on shares of Simply Good Foods from $45.00 to $47.00 and gave the company an "outperform" rating in a report on Friday, April 11th. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $39.71.

Simply Good Foods Price Performance

Shares of SMPL opened at $32.89 on Monday. The company has a market cap of $3.31 billion, a price-to-earnings ratio of 23.00, a price-to-earnings-growth ratio of 3.01 and a beta of 0.68. The Simply Good Foods Company has a twelve month low of $30.47 and a twelve month high of $40.53. 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 company has a 50 day moving average of $33.79 and a two-hundred day moving average of $35.34.

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 for the quarter, beating the consensus estimate of $0.50 by $0.01. The company had revenue of $380,956 billion during the quarter, compared to the consensus estimate of $381.68 million. Simply Good Foods had a net margin of 9.97% and a return on equity of 10.29%. Simply Good Foods's revenue was up 13.8% compared to the same quarter last year. During the same period last year, the firm earned $0.50 earnings per share. As a group, analysts predict that The Simply Good Foods Company will post 1.78 earnings per share for the current fiscal year.

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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