Hsbc Holdings PLC Reduces Stock Position in The Simply Good Foods Company (NASDAQ:SMPL)

Hsbc Holdings PLC lowered its position in The Simply Good Foods Company (NASDAQ:SMPL) by 78.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 10,264 shares of the financial services provider’s stock after selling 36,318 shares during the quarter. Hsbc Holdings PLC’s holdings in Simply Good Foods were worth $368,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in shares of Simply Good Foods by 1.6% in the first quarter. Vanguard Group Inc. now owns 11,099,351 shares of the financial services provider’s stock worth $377,711,000 after purchasing an additional 174,157 shares during the period. Champlain Investment Partners LLC increased its holdings in shares of Simply Good Foods by 27.7% in the first quarter. Champlain Investment Partners LLC now owns 3,939,494 shares of the financial services provider’s stock worth $134,061,000 after purchasing an additional 854,550 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of Simply Good Foods by 6.8% in the second quarter. Dimensional Fund Advisors LP now owns 3,223,666 shares of the financial services provider’s stock worth $116,468,000 after purchasing an additional 203,914 shares during the period. Principal Financial Group Inc. increased its holdings in shares of Simply Good Foods by 14.3% in the second quarter. Principal Financial Group Inc. now owns 1,474,736 shares of the financial services provider’s stock worth $53,282,000 after purchasing an additional 184,539 shares during the period. Finally, Congress Asset Management Co. MA increased its holdings in shares of Simply Good Foods by 7.4% in the first quarter. Congress Asset Management Co. MA now owns 1,313,011 shares of the financial services provider’s stock worth $44,682,000 after purchasing an additional 90,154 shares during the period. Institutional investors own 88.45% of the company’s stock.

Simply Good Foods Stock Down 3.1 %

Shares of NASDAQ:SMPL opened at $33.78 on Thursday. The stock’s 50-day moving average price is $33.16 and its 200-day moving average price is $34.75. The Simply Good Foods Company has a 12-month low of $30.00 and a 12-month high of $43.00. The stock has a market capitalization of $3.38 billion, a P/E ratio of 23.30, a price-to-earnings-growth ratio of 2.30 and a beta of 0.62. The company has a current ratio of 5.19, a quick ratio of 4.05 and a debt-to-equity ratio of 0.14.

Insider Transactions at Simply Good Foods

In other news, SVP Stuart E. Jr. Heflin sold 1,058 shares of the stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $34.44, for a total transaction of $36,437.52. Following the completion of the sale, the senior vice president now directly owns 19,319 shares in the company, valued at $665,346.36. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 10.98% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research analysts have recently weighed in on SMPL shares. Needham & Company LLC reaffirmed a “buy” rating and issued a $41.00 price target on shares of Simply Good Foods in a report on Friday, June 28th. Stifel Nicolaus increased their target price on Simply Good Foods from $38.00 to $40.00 and gave the company a “buy” rating in a research note on Friday, June 14th. Deutsche Bank Aktiengesellschaft increased their target price on Simply Good Foods from $36.00 to $37.00 and gave the company a “hold” rating in a research note on Friday, June 14th. Finally, DA Davidson increased their target price on Simply Good Foods from $35.00 to $38.00 and gave the company a “neutral” rating in a research note on Monday, July 1st. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, Simply Good Foods presently has a consensus rating of “Moderate Buy” and a consensus target price of $40.29.

Simply Good Foods 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.