T. Rowe Price Investment Management Inc. Acquires 134,618 Shares of 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. boosted its position in The Simply Good Foods Company (NASDAQ:SMPL - Free Report) by 2.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund 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 5.14% of Simply Good Foods worth $179,160,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. BI Asset Management Fondsmaeglerselskab A S acquired a new position in Simply Good Foods during the 1st quarter valued at about $54,000. Caitong International Asset Management Co. Ltd bought a new position in Simply Good Foods in the first quarter valued at approximately $55,000. Russell Investments Group Ltd. grew its holdings 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 acquiring an additional 2,878 shares during the period. Banque Cantonale Vaudoise bought a new stake in shares of Simply Good Foods during the 1st quarter valued at $105,000. Finally, Nisa Investment Advisors LLC raised its position in shares of Simply Good Foods by 24.7% during the 1st quarter. Nisa Investment Advisors LLC now owns 3,808 shares of the financial services provider's stock valued at $131,000 after acquiring an additional 754 shares during the last quarter. 88.45% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

SMPL has been the topic of several recent research reports. Sanford C. Bernstein set a $45.00 price target on Simply Good Foods and gave the stock an "outperform" rating in a research report on Friday, July 11th. Citigroup decreased their price objective on shares of Simply Good Foods from $43.00 to $40.00 and set a "buy" rating for the company in a report on Wednesday, June 18th. Mizuho reduced their price target on shares of Simply Good Foods from $47.00 to $43.00 and set an "outperform" rating on the stock in a research report on Tuesday, July 15th. UBS Group set a $36.00 price target on shares of Simply Good Foods and gave the company a "neutral" rating in a report on Tuesday, July 1st. Finally, DA Davidson dropped their price objective on Simply Good Foods from $42.00 to $38.00 and set a "neutral" rating on the stock in a research note on Monday, June 9th. Five equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $39.88.

Simply Good Foods Stock Down 2.3%

NASDAQ:SMPL traded down $0.66 during trading hours on Tuesday, reaching $28.62. 207,744 shares of the stock were exchanged, compared to its average volume of 1,120,650. The stock has a market cap of $2.88 billion, a PE ratio of 20.02, a PEG ratio of 2.96 and a beta of 0.59. The Simply Good Foods Company has a twelve month low of $28.14 and a twelve month high of $40.53. The firm has a 50 day moving average of $31.36 and a 200 day moving average of $34.04. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.95 and a quick ratio of 2.46.

Simply Good Foods (NASDAQ:SMPL - Get Free Report) last announced its quarterly earnings data on Thursday, July 10th. The financial services provider reported $0.51 EPS for the quarter, topping analysts' consensus estimates of $0.50 by $0.01. Simply Good Foods had a net margin of 9.97% and a return on equity of 10.29%. The business had revenue of $380,956 billion for the quarter, compared to analyst estimates of $381.68 million. During the same quarter in the previous year, the firm posted $0.50 earnings per share. The firm's revenue for the quarter was up 13.8% on a year-over-year basis. On average, equities analysts expect that The Simply Good Foods Company will post 1.78 earnings per share for the current year.

Insider Activity

In other news, CEO Geoff E. Tanner bought 6,050 shares of the stock in a transaction that occurred on Wednesday, July 23rd. The shares were acquired at an average cost of $33.11 per share, for a total transaction of $200,315.50. Following the completion of 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 ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate 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.