The Simply Good Foods Company $SMPL Shares Sold by Fuller & Thaler Asset Management Inc.

Key Points

• Fuller & Thaler Asset Management Inc. has reduced its position in The Simply Good Foods Company by 23.9%, resulting in ownership of 2,900,807 shares valued at approximately $100 million.
• Several hedge funds have increased their stakes or initiated new positions, with 88.45% of Simply Good Foods' stock being owned by institutional investors.
• Wall Street analysts have varied outlooks on Simply Good Foods, with an average rating of "Moderate Buy" and a consensus target price of $39.88.

Fuller & Thaler Asset Management Inc. cut its holdings in shares of The Simply Good Foods Company (NASDAQ:SMPL - Free Report) by 23.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,900,807 shares of the financial services provider's stock after selling 910,321 shares during the period. Fuller & Thaler Asset Management Inc. owned approximately 2.87% of Simply Good Foods worth $100,049,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Caitong International Asset Management Co. Ltd bought a new stake in Simply Good Foods in the 1st quarter worth about $55,000. Russell Investments Group Ltd. boosted its holdings in Simply Good Foods by 2,055.7% in the 1st quarter. Russell Investments Group Ltd. now owns 3,018 shares of the financial services provider's stock worth $104,000 after buying an additional 2,878 shares during the period. Banque Cantonale Vaudoise bought a new position in Simply Good Foods in the 1st quarter worth approximately $105,000. Nisa Investment Advisors LLC lifted its stake in Simply Good Foods by 24.7% in the 1st quarter. Nisa Investment Advisors LLC now owns 3,808 shares of the financial services provider's stock worth $131,000 after purchasing an additional 754 shares in the last quarter. Finally, Bayforest Capital Ltd lifted its stake in Simply Good Foods by 13.8% in the 1st quarter. Bayforest Capital Ltd now owns 4,599 shares of the financial services provider's stock worth $159,000 after purchasing an additional 557 shares in the last quarter. 88.45% of the stock is owned by institutional investors.

Simply Good Foods Price Performance

Shares of SMPL traded up $0.80 during trading hours on Friday, reaching $30.17. 1,122,034 shares of the stock traded hands, compared to its average volume of 1,240,421. 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 company's 50-day moving average price is $31.43 and its two-hundred day moving average price is $34.13. The company has a market cap of $3.03 billion, a P/E ratio of 21.10, a price-to-earnings-growth ratio of 2.88 and a beta of 0.59. The Simply Good Foods Company has a 52-week low of $28.14 and a 52-week high of $40.53.

Simply Good Foods (NASDAQ:SMPL - Get Free Report) last issued its earnings results on Thursday, July 10th. The financial services provider reported $0.51 earnings per share 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 firm had revenue of $380,956 billion during the quarter, compared to analyst estimates of $381.68 million. During the same quarter in the prior year, the business earned $0.50 earnings per share. Simply Good Foods's revenue for the quarter was up 13.8% on a year-over-year basis. On average, analysts anticipate that The Simply Good Foods Company will post 1.78 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on SMPL. Mizuho lowered their price objective 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. Sanford C. Bernstein set a $45.00 price target on shares of Simply Good Foods and gave the stock an "outperform" rating in a report on Friday, July 11th. Wall Street Zen lowered shares of Simply Good Foods from a "buy" rating to a "hold" rating in a report on Saturday, June 21st. Citigroup cut their target price on shares of Simply Good Foods from $43.00 to $40.00 and set a "buy" rating on the stock in a research note on Wednesday, June 18th. Finally, DA Davidson cut their target price on shares of 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 issued a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $39.88.

Insider Activity

In other news, CEO Geoff E. Tanner bought 6,050 shares of the stock in a transaction dated Wednesday, July 23rd. The stock was purchased at an average price of $33.11 per share, for a total transaction of $200,315.50. Following the acquisition, the chief executive officer owned 98,190 shares of the company's stock, valued at $3,251,070.90. The trade was a 6.57% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 9.35% of the company's stock.

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.