T. Rowe Price Investment Management Inc. Grows Holdings in The Simply Good Foods Company $SMPL

Key Points

• T. Rowe Price Investment Management Inc. increased its stake in The Simply Good Foods Company by 2.7%, acquiring an additional 134,618 shares to hold approximately 5.14% of the company.
• Simply Good Foods reported earnings of $0.51 per share for the most recent quarter, exceeding estimates, while its revenue rose 13.8% compared to the previous year.
• Insider trading activity includes CEO Geoff E. Tanner purchasing 6,050 shares at an average price of $33.11, increasing his position by 6.57% to a total of 98,190 shares.

T. Rowe Price Investment Management Inc. increased its holdings in The Simply Good Foods Company (NASDAQ:SMPL - Free Report) by 2.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,194,531 shares of the financial services provider's stock after acquiring an additional 134,618 shares during the period. T. Rowe Price Investment Management Inc. owned about 5.14% of Simply Good Foods worth $179,160,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of SMPL. BI Asset Management Fondsmaeglerselskab A S bought a new stake in Simply Good Foods in the first quarter worth about $54,000. Caitong International Asset Management Co. Ltd bought a new stake in Simply Good Foods in the first quarter worth about $55,000. Russell Investments Group Ltd. raised its position in Simply Good Foods by 2,055.7% in the first quarter. Russell Investments Group Ltd. now owns 3,018 shares of the financial services provider's stock worth $104,000 after acquiring an additional 2,878 shares during the period. Banque Cantonale Vaudoise bought a new stake in Simply Good Foods in the first quarter worth about $105,000. Finally, Nisa Investment Advisors LLC raised its position in Simply Good Foods by 24.7% in 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. 88.45% of the stock is owned by institutional investors.

Simply Good Foods Stock Performance

Shares of NASDAQ:SMPL traded down $0.7970 during trading on Monday, hitting $29.3730. 557,103 shares of the company were exchanged, compared to its average volume of 1,123,742. The stock has a 50 day moving average of $31.43 and a 200 day moving average of $34.09. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.95 and a quick ratio of 2.46. The company has a market cap of $2.95 billion, a PE ratio of 20.54, a P/E/G ratio of 2.96 and a beta of 0.59. The Simply Good Foods Company has a 52-week low of $28.14 and a 52-week high of $40.53.

Simply Good Foods (NASDAQ:SMPL - Get Free Report) last posted its earnings results on Thursday, July 10th. The financial services provider reported $0.51 earnings per share for the quarter, topping analysts' consensus estimates of $0.50 by $0.01. The business had revenue of $380,956 billion for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.50 EPS. As a group, equities research analysts predict that The Simply Good Foods Company will post 1.78 EPS for the current year.

Analysts Set New Price Targets

Several analysts have commented on the stock. Stifel Nicolaus lowered 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 research report on Friday, June 27th. Wall Street Zen lowered shares of Simply Good Foods from a "buy" rating to a "hold" rating in a research report on Saturday, June 21st. Sanford C. Bernstein set a $45.00 price objective on shares of Simply Good Foods and gave the stock an "outperform" rating in a research report on Friday, July 11th. DA Davidson lowered their price target on shares of Simply Good Foods from $42.00 to $38.00 and set a "neutral" rating on the stock in a research report on Monday, June 9th. Finally, Citigroup lowered their price target on shares of Simply Good Foods from $43.00 to $40.00 and set a "buy" rating on the stock in a research report on Wednesday, June 18th. Five equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, Simply Good Foods has a consensus rating of "Moderate Buy" and a consensus price target of $39.88.

Insiders Place Their Bets

In other news, CEO Geoff E. Tanner bought 6,050 shares of the firm's stock in a transaction that occurred on Wednesday, July 23rd. The shares were acquired at an average price of $33.11 per share, with a total value of $200,315.50. Following the acquisition, 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 position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 9.35% of the company's stock.

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.