TD Asset Management Inc Cuts Stock Position in The Simply Good Foods Company $SMPL

Key Points

• TD Asset Management Inc reduced its stake in The Simply Good Foods Company by 15.0%, ending the second quarter with 69,566 shares valued at approximately $2.2 million.
• In the first quarter, several institutional investors, including Illinois Municipal Retirement Fund and Nisa Investment Advisors LLC, increased their holdings in Simply Good Foods, highlighting growing interest, with hedge funds collectively owning 88.45% of the stock.
• Recent price target changes from analysts show a downward trend, with Stifel Nicolaus lowering its target from $40 to $38 and UBS Group from $36 to $27, reflecting a cautious outlook on the stock.

TD Asset Management Inc cut its holdings in The Simply Good Foods Company (NASDAQ:SMPL - Free Report) by 15.0% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 69,566 shares of the financial services provider's stock after selling 12,238 shares during the quarter. TD Asset Management Inc owned 0.07% of Simply Good Foods worth $2,198,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of SMPL. Illinois Municipal Retirement Fund grew its holdings in shares of Simply Good Foods by 1.4% in the first quarter. Illinois Municipal Retirement Fund now owns 49,145 shares of the financial services provider's stock valued at $1,695,000 after purchasing an additional 687 shares in the last quarter. Schwartz Investment Counsel Inc. grew its holdings in shares of Simply Good Foods by 18.3% in the first quarter. Schwartz Investment Counsel Inc. now owns 358,370 shares of the financial services provider's stock valued at $12,360,000 after purchasing an additional 55,470 shares in the last quarter. Banque Pictet & Cie SA purchased a new position in shares of Simply Good Foods in the first quarter valued at $383,000. Nisa Investment Advisors LLC grew its holdings in shares of 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 valued at $131,000 after purchasing an additional 754 shares in the last quarter. Finally, Xponance Inc. grew its holdings in shares of Simply Good Foods by 5.8% in the first quarter. Xponance Inc. now owns 7,325 shares of the financial services provider's stock valued at $253,000 after purchasing an additional 402 shares in the last quarter. 88.45% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Stifel Nicolaus dropped their price objective on shares of Simply Good Foods from $40.00 to $38.00 and set a "buy" rating for the company in a research note on Friday, June 27th. UBS Group dropped their price objective on shares of Simply Good Foods from $36.00 to $27.00 and set a "neutral" rating for the company in a research note on Wednesday, October 8th. Mizuho dropped their price objective on shares of Simply Good Foods from $47.00 to $43.00 and set an "outperform" rating for the company in a research note on Tuesday, July 15th. Morgan Stanley set a $28.00 price objective on shares of Simply Good Foods in a research note on Thursday, October 16th. Finally, 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 note on Friday, July 11th. Five equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $37.63.

Simply Good Foods Stock Up 1.2%

NASDAQ:SMPL opened at $25.44 on Wednesday. The Simply Good Foods Company has a twelve month low of $23.50 and a twelve month high of $40.53. The company has a market cap of $2.56 billion, a price-to-earnings ratio of 17.79, a price-to-earnings-growth ratio of 2.71 and a beta of 0.53. The stock has a fifty day simple moving average of $26.67 and a 200-day simple moving average of $31.32. The company has a current ratio of 3.95, a quick ratio of 2.46 and a debt-to-equity ratio of 0.14.

About Simply Good Foods

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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