Vanguard Group Inc. Purchases 249,405 Shares of The Simply Good Foods Company $SMPL

Key Points

• Vanguard increased its stake in The Simply Good Foods Company by 2.4% in the fourth quarter, buying an additional 249,405 shares and bringing its total to 10.63 million shares valued at about $213.5 million.
• Simply Good Foods reported mixed quarterly results, with earnings per share of $0.45 beating estimates, but revenue of $326.0 million falling short of expectations and down 9.4% year over year.
• Analyst sentiment remains cautious, with a consensus rating of “Hold” and an average price target of $21.64, while recent price targets have been lowered by several brokerages.

Vanguard Group Inc. raised its position in The Simply Good Foods Company (NASDAQ:SMPL - Free Report) by 2.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,631,429 shares of the financial services provider's stock after purchasing an additional 249,405 shares during the period. Vanguard Group Inc. owned 11.48% of Simply Good Foods worth $213,479,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of SMPL. EverSource Wealth Advisors LLC boosted its holdings in Simply Good Foods by 125.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 967 shares of the financial services provider's stock valued at $31,000 after purchasing an additional 538 shares during the period. Johnson Financial Group Inc. bought a new position in Simply Good Foods in the 3rd quarter valued at $36,000. CWM LLC boosted its position in shares of Simply Good Foods by 343.0% during the 3rd quarter. CWM LLC now owns 2,605 shares of the financial services provider's stock valued at $65,000 after acquiring an additional 2,017 shares during the last quarter. State of Wyoming bought a new stake in shares of Simply Good Foods during the 2nd quarter valued at about $87,000. Finally, Strs Ohio bought a new stake in shares of Simply Good Foods during the 1st quarter valued at about $114,000. 88.45% of the stock is owned by institutional investors.

Simply Good Foods Stock Performance

Simply Good Foods stock opened at $12.26 on Friday. The company has a quick ratio of 2.87, a current ratio of 5.06 and a debt-to-equity ratio of 0.27. The company has a market capitalization of $1.11 billion, a PE ratio of -10.30 and a beta of 0.21. The firm has a fifty day simple moving average of $14.01 and a two-hundred day simple moving average of $17.50. The Simply Good Foods Company has a twelve month low of $10.21 and a twelve month high of $36.92.

Simply Good Foods (NASDAQ:SMPL - Get Free Report) last posted its quarterly earnings results on Thursday, April 9th. The financial services provider reported $0.45 earnings per share for the quarter, topping the consensus estimate of $0.40 by $0.05. The business had revenue of $326.01 million during the quarter, compared to the consensus estimate of $345.08 million. Simply Good Foods had a negative net margin of 7.46% and a positive return on equity of 9.72%. The firm's revenue for the quarter was down 9.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.46 earnings per share. Research analysts expect that The Simply Good Foods Company will post 1.54 EPS for the current year.

Insiders Place Their Bets

In related news, Director James M. Kilts acquired 80,000 shares of the stock in a transaction on Thursday, April 23rd. The stock was purchased at an average price of $12.39 per share, for a total transaction of $991,200.00. Following the completion of the transaction, the director owned 172,854 shares of the company's stock, valued at $2,141,661.06. This trade represents a 86.16% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 8.76% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on SMPL. DA Davidson reiterated a "neutral" rating and set a $39.00 price target on shares of Simply Good Foods in a research report on Friday, April 10th. Stephens reiterated an "equal weight" rating and set a $14.00 price target (down from $24.00) on shares of Simply Good Foods in a research report on Friday, April 10th. Stifel Nicolaus dropped their price target on Simply Good Foods from $32.00 to $20.00 and set a "buy" rating for the company in a research report on Friday, April 10th. UBS Group dropped their price target on Simply Good Foods from $16.00 to $13.00 and set a "neutral" rating for the company in a research report on Friday, April 10th. Finally, BTIG Research began coverage on shares of Simply Good Foods in a report on Monday, April 13th. They set a "neutral" rating for the company. Five analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $21.64.

Simply Good Foods Profile

Simply Good Foods Co NASDAQ: SMPL is a North American consumer packaged foods company specializing in better-for-you nutrition products. The company’s portfolio centers on two well-established brands, Atkins and Quest, which offer a range of low-carbohydrate, high-protein bars, powders, shakes, and snacks. Simply Good Foods aims to support consumers’ health and wellness goals by delivering convenient, nutrient-dense options without added sugars or artificial sweeteners.

Under the Atkins brand, the company produces meal replacements, snack bars, and ready-to-drink shakes designed for low-carb dieters.

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