The Simply Good Foods Company $SMPL Shares Acquired by Voya Investment Management LLC

Key Points

• Voya Investment Management LLC increased its stake in The Simply Good Foods Company by 33.2%, acquiring an additional 19,887 shares in the 1st quarter, raising its ownership to 79,703 shares valued at approximately $2.75 million.
• Multiple analysts have adjusted their ratings on SMPL stock, with five analysts giving it a Buy rating and three a Hold rating; the stock has an average price target of $39.88.
• Simply Good Foods reported an EPS of $0.51 for its latest quarter, slightly below consensus expectations, with revenue of $380.96 million, reflecting a 13.8% increase compared to the prior year.

Voya Investment Management LLC raised its stake in The Simply Good Foods Company (NASDAQ:SMPL - Free Report) by 33.2% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 79,703 shares of the financial services provider's stock after buying an additional 19,887 shares during the quarter. Voya Investment Management LLC owned approximately 0.08% of Simply Good Foods worth $2,749,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC purchased a new stake in Simply Good Foods in the 4th quarter valued at $206,000. Assenagon Asset Management S.A. purchased a new position in shares of Simply Good Foods during the 1st quarter worth $1,437,000. Intech Investment Management LLC grew its holdings in shares of Simply Good Foods by 43.5% during the 1st quarter. Intech Investment Management LLC now owns 62,005 shares of the financial services provider's stock worth $2,139,000 after purchasing an additional 18,801 shares during the period. SG Americas Securities LLC purchased a new position in shares of Simply Good Foods during the 1st quarter worth $712,000. Finally, Woodline Partners LP grew its holdings in shares of Simply Good Foods by 10.9% during the 1st quarter. Woodline Partners LP now owns 1,664,755 shares of the financial services provider's stock worth $57,417,000 after purchasing an additional 163,720 shares during the period. 88.45% of the stock is currently owned by hedge funds and other institutional investors.

Simply Good Foods Stock Down 2.0%

Shares of SMPL traded down $0.53 during midday trading on Tuesday, hitting $25.67. The company had a trading volume of 458,451 shares, compared to its average volume of 1,140,976. The company's 50-day simple moving average is $29.54 and its 200-day simple moving average is $32.71. 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 firm has a market capitalization of $2.58 billion, a P/E ratio of 17.98, a P/E/G ratio of 2.44 and a beta of 0.59. The Simply Good Foods Company has a 1 year low of $25.69 and a 1 year high of $40.53.

Simply Good Foods (NASDAQ:SMPL - Get Free Report) last announced its quarterly earnings data on Thursday, July 10th. The financial services provider reported $0.51 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.51. The business had revenue of $380.96 million during the quarter, compared to analysts' expectations of $381.68 million. Simply Good Foods had a return on equity of 10.29% and a net margin of 9.97%.The business's quarterly revenue was up 13.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.50 EPS. As a group, sell-side analysts expect that The Simply Good Foods Company will post 1.78 EPS for the current year.

Insider Activity

In other Simply Good Foods news, CEO Geoff E. Tanner bought 6,050 shares of the business's stock in a transaction dated Wednesday, July 23rd. The shares were acquired at an average price of $33.11 per share, with a total value of $200,315.50. Following the transaction, the chief executive officer owned 98,190 shares of the company's stock, valued at approximately $3,251,070.90. The trade was a 6.57% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 9.35% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on SMPL shares. Mizuho lowered their price target on Simply Good Foods from $47.00 to $43.00 and set an "outperform" rating for the company in a report on Tuesday, July 15th. Sanford C. Bernstein set a $45.00 price target on Simply Good Foods and gave the stock an "outperform" rating in a report on Friday, July 11th. Citigroup lowered their price target on Simply Good Foods from $43.00 to $40.00 and set a "buy" rating for the company in a report on Wednesday, June 18th. Wall Street Zen cut Simply Good Foods from a "buy" rating to a "hold" rating in a report on Saturday, June 21st. Finally, Stifel Nicolaus lowered their price target on Simply Good Foods from $40.00 to $38.00 and set a "buy" rating for the company in a report on Friday, June 27th. Five research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target 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.