The Simply Good Foods Company $SMPL Shares Sold by Champlain Investment Partners LLC

Key Points

• Champlain Investment Partners LLC reduced its stake in The Simply Good Foods Company by 13.4% in Q1, now holding 2,967,752 shares valued at approximately $102.36 million.
• CEO Geoff E. Tanner increased his position by purchasing 6,050 shares at an average cost of $33.11 per share, totaling around $200,315.
• Analysts have lowered price targets for Simply Good Foods, with Mizuho now setting it at $43.00, and a consensus rating of "Moderate Buy" with an average price target of $39.88.

Champlain Investment Partners LLC lessened its holdings in shares of The Simply Good Foods Company (NASDAQ:SMPL - Free Report) by 13.4% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,967,752 shares of the financial services provider's stock after selling 460,236 shares during the period. Champlain Investment Partners LLC owned 2.94% of Simply Good Foods worth $102,358,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Gabelli Funds LLC increased its position in Simply Good Foods by 14.4% during the first quarter. Gabelli Funds LLC now owns 99,500 shares of the financial services provider's stock worth $3,432,000 after buying an additional 12,500 shares during the period. Caisse DE Depot ET Placement DU Quebec acquired a new position in Simply Good Foods during the first quarter worth approximately $1,259,000. Jump Financial LLC acquired a new position in Simply Good Foods during the first quarter worth approximately $316,000. AlphaQuest LLC increased its position in Simply Good Foods by 273.9% during the first quarter. AlphaQuest LLC now owns 57,006 shares of the financial services provider's stock worth $1,966,000 after buying an additional 41,758 shares during the period. Finally, Van Hulzen Asset Management LLC increased its position in Simply Good Foods by 1.4% during the first quarter. Van Hulzen Asset Management LLC now owns 36,886 shares of the financial services provider's stock worth $1,272,000 after buying an additional 522 shares during the period. Institutional investors and hedge funds own 88.45% of the company's stock.

Insider Buying and Selling at Simply Good Foods

In other Simply Good Foods news, CEO Geoff E. Tanner purchased 6,050 shares of the firm's stock in a transaction that occurred 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 completion of the purchase, the chief executive officer directly owned 98,190 shares in the company, valued at $3,251,070.90. This represents a 6.57% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 9.35% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research analysts have commented on the company. Mizuho cut their price target 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. Stifel Nicolaus cut 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. DA Davidson lowered their target price 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. Wall Street Zen downgraded Simply Good Foods from a "buy" rating to a "hold" rating in a research note on Saturday, June 21st. Finally, UBS Group set a $36.00 target price on Simply Good Foods and gave the company a "neutral" rating in a research note on Tuesday, July 1st. Five analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $39.88.

Simply Good Foods Price Performance

Shares of Simply Good Foods stock traded down $0.01 during trading on Monday, reaching $28.63. The company's stock had a trading volume of 1,012,839 shares, compared to its average volume of 1,189,097. The company has a quick ratio of 2.46, a current ratio of 3.95 and a debt-to-equity ratio of 0.14. The Simply Good Foods Company has a 12-month low of $28.14 and a 12-month high of $40.53. The company has a market capitalization of $2.88 billion, a P/E ratio of 20.02, a price-to-earnings-growth ratio of 2.81 and a beta of 0.59. The business has a 50 day moving average price of $31.05 and a 200-day moving average price of $33.78.

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 earnings per share for the quarter, meeting analysts' consensus estimates of $0.51. Simply Good Foods had a return on equity of 10.29% and a net margin of 9.97%.The firm had revenue of $380.96 million for the quarter, compared to the consensus estimate of $381.68 million. During the same period in the previous year, the business earned $0.50 earnings per share. The company's revenue for the quarter was up 13.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that The Simply Good Foods Company will post 1.78 EPS for the current year.

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.