Bellevue Group AG Buys New Shares in The Simply Good Foods Company (NASDAQ:SMPL)

Bellevue Group AG purchased a new position in shares of The Simply Good Foods Company (NASDAQ:SMPL) in the first quarter, Holdings Channel reports. The fund purchased 7,900 shares of the financial services provider’s stock, valued at approximately $269,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Pacer Advisors Inc. raised its stake in shares of Simply Good Foods by 121.5% during the 4th quarter. Pacer Advisors Inc. now owns 833 shares of the financial services provider’s stock valued at $33,000 after buying an additional 457 shares during the last quarter. Parkside Financial Bank & Trust boosted its position in Simply Good Foods by 103.1% in the 4th quarter. Parkside Financial Bank & Trust now owns 853 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 433 shares in the last quarter. Principal Securities Inc. acquired a new stake in shares of Simply Good Foods during the 4th quarter worth approximately $36,000. TFO Wealth Partners LLC increased its holdings in shares of Simply Good Foods by 59,100.0% during the 4th quarter. TFO Wealth Partners LLC now owns 1,184 shares of the financial services provider’s stock valued at $47,000 after purchasing an additional 1,182 shares in the last quarter. Finally, Blue Trust Inc. lifted its stake in shares of Simply Good Foods by 18.8% in the 4th quarter. Blue Trust Inc. now owns 1,846 shares of the financial services provider’s stock valued at $73,000 after purchasing an additional 292 shares during the period. 88.45% of the stock is currently owned by institutional investors and hedge funds.

Simply Good Foods Price Performance

SMPL stock traded up $0.39 during midday trading on Monday, reaching $34.16. The stock had a trading volume of 386,160 shares, compared to its average volume of 886,332. The Simply Good Foods Company has a 52-week low of $30.00 and a 52-week high of $43.00. The company has a market cap of $3.42 billion, a price-to-earnings ratio of 23.29, a price-to-earnings-growth ratio of 2.40 and a beta of 0.61. The company’s fifty day simple moving average is $36.45 and its 200 day simple moving average is $36.00. The company has a current ratio of 5.19, a quick ratio of 4.05 and a debt-to-equity ratio of 0.14.

Simply Good Foods (NASDAQ:SMPL) last posted its quarterly earnings results on Thursday, June 27th. The financial services provider reported $0.50 earnings per share for the quarter, topping analysts’ consensus estimates of $0.48 by $0.02. The firm had revenue of $334.80 million for the quarter, compared to analyst estimates of $337.66 million. Simply Good Foods had a net margin of 11.49% and a return on equity of 10.28%. Simply Good Foods’s quarterly revenue was up 3.1% on a year-over-year basis. During the same period in the previous year, the business posted $0.40 earnings per share. As a group, sell-side analysts predict that The Simply Good Foods Company will post 1.69 earnings per share for the current fiscal year.

Insider Activity

In other Simply Good Foods news, Director James D. White sold 4,000 shares of the company’s stock in a transaction on Friday, May 10th. The stock was sold at an average price of $38.17, for a total value of $152,680.00. Following the completion of the sale, the director now directly owns 17,027 shares in the company, valued at approximately $649,920.59. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 10.98% of the company’s stock.

Wall Street Analysts Forecast Growth

SMPL has been the subject of a number of recent analyst reports. Morgan Stanley reaffirmed an “overweight” rating and issued a $42.00 price objective on shares of Simply Good Foods in a report on Thursday, April 11th. Deutsche Bank Aktiengesellschaft upped their price target on Simply Good Foods from $36.00 to $37.00 and gave the stock a “hold” rating in a report on Friday, June 14th. DA Davidson boosted their price objective on Simply Good Foods from $35.00 to $38.00 and gave the company a “neutral” rating in a research report on Monday, July 1st. Mizuho reaffirmed a “buy” rating and set a $50.00 target price on shares of Simply Good Foods in a research note on Friday, April 5th. Finally, Stifel Nicolaus boosted their price target on shares of Simply Good Foods from $38.00 to $40.00 and gave the stock a “buy” rating in a report on Friday, June 14th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $40.29.

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.