Zurcher Kantonalbank Zurich Cantonalbank Has $1.71 Million Stake in The Simply Good Foods Company (NASDAQ:SMPL)

Key Points

• Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Simply Good Foods by 105.6%, owning 49,615 shares valued at approximately $1.71 million after acquiring over 25,000 additional shares in the latest quarter.
• The company's CEO, Geoff E. Tanner, purchased 6,050 shares at an average cost of $33.11 per share, raising his total ownership to 98,190 shares worth about $3.25 million.
• Analysts maintain a consensus rating of "Moderate Buy" for Simply Good Foods with an average price target of $39.88, despite some price targets being adjusted downward in recent reports.

Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of The Simply Good Foods Company (NASDAQ:SMPL - Free Report) by 105.6% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 49,615 shares of the financial services provider's stock after acquiring an additional 25,484 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank's holdings in Simply Good Foods were worth $1,711,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. FMR LLC raised its stake in shares of Simply Good Foods by 86.5% in the fourth quarter. FMR LLC now owns 9,566,199 shares of the financial services provider's stock worth $372,890,000 after buying an additional 4,437,372 shares during the period. Norges Bank purchased a new position in Simply Good Foods during the 4th quarter valued at approximately $44,006,000. Victory Capital Management Inc. boosted its holdings in shares of Simply Good Foods by 52.1% in the 1st quarter. Victory Capital Management Inc. now owns 1,539,208 shares of the financial services provider's stock worth $53,087,000 after purchasing an additional 527,089 shares during the period. Balyasny Asset Management L.P. boosted its holdings in shares of Simply Good Foods by 3,306.7% in the 4th quarter. Balyasny Asset Management L.P. now owns 460,827 shares of the financial services provider's stock worth $17,963,000 after purchasing an additional 447,300 shares during the period. Finally, Stephens Investment Management Group LLC bought a new stake in shares of Simply Good Foods during the 1st quarter worth approximately $14,509,000. Institutional investors own 88.45% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. Morgan Stanley raised their price target on Simply Good Foods from $36.00 to $37.00 and gave the stock an "equal weight" rating in a research note on Thursday, April 10th. Mizuho reduced their target price on 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. DA Davidson dropped their price target 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. Stifel Nicolaus lowered their price target on 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. Finally, Citigroup reduced their target price on Simply Good Foods from $43.00 to $40.00 and set a "buy" rating for the company in a report on Wednesday, June 18th. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $39.88.

Simply Good Foods Trading Down 1.3%

Shares of SMPL traded down $0.41 during trading hours on Friday, hitting $30.05. The stock had a trading volume of 916,053 shares, compared to its average volume of 1,536,983. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.46 and a current ratio of 3.95. The firm has a market cap of $3.02 billion, a P/E ratio of 21.01, a P/E/G ratio of 2.95 and a beta of 0.59. The company's fifty day simple moving average is $32.79 and its 200 day simple moving average is $34.90. The Simply Good Foods Company has a 12-month low of $30.01 and a 12-month high of $40.53.

Simply Good Foods (NASDAQ:SMPL - Get Free Report) last posted its quarterly earnings results 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 return on equity of 10.29% and a net margin of 9.97%. The business had revenue of $380,956 billion during the quarter, compared to the consensus estimate of $381.68 million. During the same period last year, the firm earned $0.50 earnings per share. The company's revenue for the quarter was up 13.8% compared to the same quarter last year. Equities research analysts forecast that The Simply Good Foods Company will post 1.78 EPS for the current fiscal year.

Insider Transactions at Simply Good Foods

In other news, CEO Geoff E. Tanner acquired 6,050 shares of the stock in a transaction on Wednesday, July 23rd. The shares were purchased at an average cost of $33.11 per share, for a total transaction of $200,315.50. Following the transaction, the chief executive officer owned 98,190 shares in the company, valued at approximately $3,251,070.90. This trade represents a 6.57% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 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.