The Simply Good Foods Company $SMPL Stake Lessened by Boston Trust Walden Corp

Key Points

• Boston Trust Walden reduced its Simply Good Foods stake by 5.2%, selling 93,369 shares and retaining about 1.69 million shares, worth roughly $16.1 million. Other institutional investors increased holdings, and institutions own 88.45% of the company.
• Analyst sentiment is mostly cautious: the consensus rating is Hold, with a $13.36 average price target; recent rating changes included downgrades and reduced price targets.
• Simply Good Foods beat quarterly earnings and revenue estimates, reporting $0.44 per share and $333.3 million in revenue, but revenue fell 9.7% year over year.

Boston Trust Walden Corp lowered its holdings in The Simply Good Foods Company (NASDAQ:SMPL - Free Report) by 5.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,694,396 shares of the financial services provider's stock after selling 93,369 shares during the period. Boston Trust Walden Corp owned approximately 1.95% of Simply Good Foods worth $16,080,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the stock. ARGA Investment Management LP lifted its stake in shares of Simply Good Foods by 21.7% in the third quarter. ARGA Investment Management LP now owns 27,470 shares of the financial services provider's stock worth $261,000 after acquiring an additional 4,891 shares in the last quarter. State of Wyoming lifted its holdings in Simply Good Foods by 111.5% in the third quarter. State of Wyoming now owns 33,377 shares of the financial services provider's stock worth $317,000 after acquiring an additional 17,598 shares during the last quarter. Pinnacle Wealth Planning Services Inc. lifted its holdings in shares of Simply Good Foods by 91.0% in the 3rd quarter. Pinnacle Wealth Planning Services Inc. now owns 6,256 shares of the financial services provider's stock worth $59,000 after purchasing an additional 2,981 shares during the last quarter. Counterpoint Mutual Funds LLC boosted its holdings in shares of Simply Good Foods by 3,594.3% during the third quarter. Counterpoint Mutual Funds LLC now owns 978,657 shares of the financial services provider's stock valued at $9,287,000 after acquiring an additional 952,166 shares during the period. Finally, Assenagon Asset Management S.A. boosted its stake in Simply Good Foods by 1,195.2% during the 3rd quarter. Assenagon Asset Management S.A. now owns 1,112,684 shares of the financial services provider's stock valued at $10,559,000 after purchasing an additional 1,026,775 shares during the period. Institutional investors and hedge funds own 88.45% of the company's stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the company. Deutsche Bank Aktiengesellschaft reissued a "hold" rating and issued a $14.00 price target on shares of Simply Good Foods in a research note on Friday, July 10th. Jefferies Financial Group lowered Simply Good Foods from a "buy" rating to a "hold" rating and cut their price objective for the stock from $15.00 to $11.00 in a report on Wednesday, October 28th. Zacks Research downgraded shares of Simply Good Foods from a "hold" rating to a "strong sell" rating in a research report on Friday, October 30th. TD Cowen decreased their price target on Simply Good Foods from $13.00 to $11.00 and set a "hold" rating for the company in a research note on Wednesday, August 26th. Finally, Weiss Ratings downgraded shares of Simply Good Foods from a "sell (d-)" rating to a "sell (e+)" rating in a report on Wednesday, October 28th. Two research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $13.36.

Simply Good Foods Trading Down 5.6%

Shares of SMPL stock opened at $12.55 on Friday. The stock has a market cap of $1.09 billion, a price-to-earnings ratio of -7.34 and a beta of 0.08. The company has a debt-to-equity ratio of 0.24, a quick ratio of 3.87 and a current ratio of 5.57. The Simply Good Foods Company has a 52-week low of $9.38 and a 52-week high of $22.00. The firm has a fifty day moving average of $10.56 and a 200-day moving average of $12.76.

Simply Good Foods (NASDAQ:SMPL - Get Free Report) last released its quarterly earnings data on Tuesday, October 27th. The financial services provider reported $0.44 earnings per share for the quarter, beating analysts' consensus estimates of $0.40 by $0.04. Simply Good Foods had a positive return on equity of 9.36% and a negative net margin of 11.49%. The company had revenue of $333.31 million for the quarter, compared to the consensus estimate of $327.03 million. During the same period in the previous year, the business earned $0.46 earnings per share. The company's quarterly revenue was down 9.7% on a year-over-year basis. On average, equities research analysts forecast that The Simply Good Foods Company will post 1.34 earnings per share for the current fiscal year.

About Simply Good Foods

The Simply Good Foods Company NASDAQ: SMPL is a consumer packaged food company focused on convenient, nutrition-focused products. Its portfolio is built around the Atkins and Quest brands, which serve consumers seeking lower-carbohydrate, higher-protein and better-for-you food options.

The company offers a variety of products, including protein bars, snack bars, shakes, cookies, chips, confectionery items, protein powders and frozen foods. Its products are sold through grocery stores, mass merchants, club stores, drugstores, convenience stores, e-commerce platforms and other retail channels.

Simply Good Foods was established in 2017 through the combination of Conyers Park Acquisition Corp.

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