The Simply Good Foods Company (NASDAQ:SMPL) Shares Acquired by Victory Capital Management Inc.

Victory Capital Management Inc. grew its holdings in shares of The Simply Good Foods Company (NASDAQ:SMPL - Free Report) by 52.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,539,208 shares of the financial services provider's stock after purchasing an additional 527,089 shares during the quarter. Victory Capital Management Inc. owned approximately 1.52% of Simply Good Foods worth $53,087,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Cohen Capital Management Inc. raised its holdings in Simply Good Foods by 1.0% in the 1st quarter. Cohen Capital Management Inc. now owns 116,364 shares of the financial services provider's stock valued at $4,013,000 after buying an additional 1,175 shares during the period. MQS Management LLC purchased a new stake in Simply Good Foods in the 1st quarter valued at about $255,000. Stephens Investment Management Group LLC purchased a new stake in Simply Good Foods in the 1st quarter valued at about $14,509,000. Diversify Wealth Management LLC raised its holdings in Simply Good Foods by 30.9% in the 1st quarter. Diversify Wealth Management LLC now owns 16,568 shares of the financial services provider's stock valued at $593,000 after buying an additional 3,912 shares during the period. Finally, Xponance Inc. raised its holdings in Simply Good Foods by 5.8% in the 1st quarter. Xponance Inc. now owns 7,325 shares of the financial services provider's stock valued at $253,000 after buying an additional 402 shares during the period. Institutional investors and hedge funds own 88.45% of the company's stock.

Analysts Set New Price Targets

Several research firms have weighed in on SMPL. DA Davidson dropped their target price on Simply Good Foods from $42.00 to $38.00 and set a "neutral" rating for the company in a research report on Monday, June 9th. UBS Group set a $36.00 price objective on Simply Good Foods and gave the stock a "neutral" rating in a research report on Tuesday, July 1st. Wall Street Zen downgraded Simply Good Foods from a "buy" rating to a "hold" rating in a research report on Saturday, June 21st. Mizuho lowered their price objective on Simply Good Foods from $47.00 to $43.00 and set an "outperform" rating for the company in a research report on Tuesday, July 15th. Finally, Morgan Stanley boosted their price objective on Simply Good Foods from $36.00 to $37.00 and gave the stock an "equal weight" rating in a research report on Thursday, April 10th. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $39.88.

Simply Good Foods Stock Performance

Shares of Simply Good Foods stock traded up $0.12 during trading hours on Tuesday, hitting $32.87. 2,273,227 shares of the company were exchanged, compared to its average volume of 1,012,107. The Simply Good Foods Company has a 1 year low of $30.47 and a 1 year high of $40.53. The company has a current ratio of 3.95, a quick ratio of 2.46 and a debt-to-equity ratio of 0.14. The business has a 50-day moving average of $33.51 and a 200-day moving average of $35.14. The stock has a market capitalization of $3.30 billion, a price-to-earnings ratio of 22.99, a P/E/G ratio of 3.21 and a beta of 0.68.

Simply Good Foods (NASDAQ:SMPL - Get Free Report) last issued its earnings results on Thursday, July 10th. The financial services provider reported $0.51 EPS for the quarter, topping the consensus estimate of $0.50 by $0.01. The company 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%. The business's revenue was up 13.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.50 EPS. As a group, analysts expect that The Simply Good Foods Company will post 1.78 EPS for the current fiscal year.

Simply Good Foods 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.