Wellington Management Group LLP Acquires 649,258 Shares of The Simply Good Foods Company $SMPL

Key Points

• Wellington Management Group LLP has increased its stake in Simply Good Foods by 18.3%, now owning 4,195,497 shares worth approximately $144.7 million.
• Simply Good Foods reported $0.51 EPS for the last quarter, exceeding analyst expectations, with a quarterly revenue increase of 13.8% year-over-year.
• Analysts currently rate Simply Good Foods as a Moderate Buy, with a consensus target price of $39.88 for the stock.

Wellington Management Group LLP boosted its holdings in The Simply Good Foods Company (NASDAQ:SMPL - Free Report) by 18.3% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,195,497 shares of the financial services provider's stock after purchasing an additional 649,258 shares during the quarter. Wellington Management Group LLP owned 4.15% of Simply Good Foods worth $144,703,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of SMPL. Northern Trust Corp grew its position in shares of Simply Good Foods by 1.0% during the 1st quarter. Northern Trust Corp now owns 1,009,257 shares of the financial services provider's stock worth $34,809,000 after purchasing an additional 9,802 shares in the last quarter. Prospector Partners LLC bought a new stake in shares of Simply Good Foods in the first quarter valued at approximately $10,188,000. Alliance Wealth Advisors LLC UT boosted its stake in shares of Simply Good Foods by 3.1% in the first quarter. Alliance Wealth Advisors LLC UT now owns 16,212 shares of the financial services provider's stock valued at $559,000 after buying an additional 484 shares during the period. Dimensional Fund Advisors LP grew its position in Simply Good Foods by 5.9% during the first quarter. Dimensional Fund Advisors LP now owns 3,764,646 shares of the financial services provider's stock worth $129,841,000 after buying an additional 210,782 shares in the last quarter. Finally, Lord Abbett & CO. LLC increased its stake in Simply Good Foods by 47.0% during the 1st quarter. Lord Abbett & CO. LLC now owns 220,541 shares of the financial services provider's stock worth $7,606,000 after acquiring an additional 70,515 shares during the period. Institutional investors own 88.45% of the company's stock.

Insider Transactions at Simply Good Foods

In other news, CEO Geoff E. Tanner bought 6,050 shares of the company's stock in a transaction on Wednesday, July 23rd. The stock was purchased at an average cost of $33.11 per share, for a total transaction of $200,315.50. Following the completion of the transaction, the chief executive officer owned 98,190 shares of the company's stock, valued at $3,251,070.90. This trade represents a 6.57% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at this link. 9.35% of the stock is currently owned by insiders.

Simply Good Foods Price Performance

Shares of SMPL traded down $0.54 during mid-day trading on Tuesday, reaching $28.74. The company had a trading volume of 930,209 shares, compared to its average volume of 1,259,018. The company has a market capitalization of $2.89 billion, a price-to-earnings ratio of 20.10, a P/E/G ratio of 2.87 and a beta of 0.59. 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 company's 50 day simple moving average is $31.28 and its 200 day simple moving average is $34.00. The Simply Good Foods Company has a 1-year low of $28.14 and a 1-year high of $40.53.

Simply Good Foods (NASDAQ:SMPL - Get Free Report) last posted 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. The firm had revenue of $380,956 billion for the quarter, compared to analysts' expectations of $381.68 million. Simply Good Foods had a net margin of 9.97% and a return on equity of 10.29%. The company's revenue was up 13.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.50 earnings per share. Analysts expect that The Simply Good Foods Company will post 1.78 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. UBS Group set a $36.00 target price on Simply Good Foods and gave the company 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 note on Saturday, June 21st. Stifel Nicolaus cut 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 report on Friday, June 27th. Citigroup decreased 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 report on Wednesday, June 18th. Finally, Mizuho dropped their target price on shares of 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. Five analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $39.88.

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.