Silvercrest Asset Management Group LLC Raises Holdings in The Simply Good Foods Company (NASDAQ:SMPL)

Silvercrest Asset Management Group LLC increased its stake in The Simply Good Foods Company (NASDAQ:SMPL - Free Report) by 1.7% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,916,389 shares of the financial services provider's stock after purchasing an additional 31,855 shares during the quarter. Silvercrest Asset Management Group LLC owned approximately 1.90% of Simply Good Foods worth $74,701,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Barclays PLC lifted its holdings in shares of Simply Good Foods by 396.7% in the 3rd quarter. Barclays PLC now owns 165,201 shares of the financial services provider's stock valued at $5,744,000 after acquiring an additional 131,939 shares during the last quarter. Diversify Wealth Management LLC boosted its holdings in shares of Simply Good Foods by 44.7% in the 4th quarter. Diversify Wealth Management LLC now owns 12,656 shares of the financial services provider's stock valued at $493,000 after buying an additional 3,911 shares in the last quarter. Exchange Traded Concepts LLC raised its position in shares of Simply Good Foods by 4.3% in the 4th quarter. Exchange Traded Concepts LLC now owns 53,512 shares of the financial services provider's stock valued at $2,086,000 after purchasing an additional 2,188 shares during the last quarter. Blue Trust Inc. grew its stake in Simply Good Foods by 44.3% during the 4th quarter. Blue Trust Inc. now owns 5,624 shares of the financial services provider's stock valued at $219,000 after purchasing an additional 1,727 shares during the last quarter. Finally, KBC Group NV lifted its position in Simply Good Foods by 24.6% during the fourth quarter. KBC Group NV now owns 3,844 shares of the financial services provider's stock valued at $150,000 after purchasing an additional 760 shares during the period. 88.45% of the stock is currently owned by institutional investors.

Insider Transactions at Simply Good Foods

In other news, SVP Stuart E. Jr. Heflin sold 5,000 shares of the company's stock in a transaction dated Friday, April 11th. The stock was sold at an average price of $37.25, for a total value of $186,250.00. Following the completion of the sale, the senior vice president now owns 12,839 shares of the company's stock, valued at $478,252.75. This represents a 28.03% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 9.35% of the company's stock.

Analyst Ratings Changes

SMPL has been the subject of several analyst reports. Mizuho boosted their target price on shares of Simply Good Foods from $45.00 to $47.00 and gave the company an "outperform" rating in a research note on Friday, April 11th. UBS Group began coverage on shares of Simply Good Foods in a research note on Wednesday, April 23rd. They issued a "neutral" rating and a $41.00 target price on the stock. Morgan Stanley lifted their target price on shares of Simply Good Foods from $36.00 to $37.00 and gave the stock an "equal weight" rating in a research note on Thursday, April 10th. Finally, DA Davidson raised their price objective on Simply Good Foods from $35.00 to $41.00 and gave the stock a "neutral" rating in a research report on Friday, April 11th. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $41.00.

Simply Good Foods Stock Performance

Shares of SMPL stock opened at $36.06 on Friday. The company has a market cap of $3.64 billion, a P/E ratio of 25.57, a PEG ratio of 3.23 and a beta of 0.72. The Simply Good Foods Company has a 12 month low of $31.25 and a 12 month high of $40.53. The company has a current ratio of 4.23, a quick ratio of 2.75 and a debt-to-equity ratio of 0.20. The firm has a fifty day moving average price of $35.29 and a 200 day moving average price of $36.71.

Simply Good Foods (NASDAQ:SMPL - Get Free Report) last issued its quarterly earnings results on Wednesday, April 9th. The financial services provider reported $0.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.40 by $0.06. Simply Good Foods had a return on equity of 10.25% and a net margin of 10.40%. The firm had revenue of $359.70 million for the quarter, compared to analysts' expectations of $354.50 million. During the same quarter in the previous year, the firm posted $0.40 EPS. The firm's revenue for the quarter was up 15.2% on a year-over-year basis. Sell-side analysts predict that The Simply Good Foods Company will post 1.78 earnings per share for the current fiscal year.

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.

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