Nordea Investment Management AB Makes New $3.82 Million Investment in The Simply Good Foods Company (NASDAQ:SMPL)

Nordea Investment Management AB acquired a new position in The Simply Good Foods Company (NASDAQ:SMPL) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 111,931 shares of the financial services provider’s stock, valued at approximately $3,821,000.

Several other institutional investors and hedge funds have also bought and sold shares of SMPL. Vanguard Group Inc. lifted its holdings in shares of Simply Good Foods by 2.4% during the third quarter. Vanguard Group Inc. now owns 10,992,510 shares of the financial services provider’s stock valued at $379,461,000 after purchasing an additional 259,144 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Simply Good Foods by 2.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,892,217 shares of the financial services provider’s stock valued at $114,535,000 after purchasing an additional 82,235 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in shares of Simply Good Foods by 17.1% during the fourth quarter. Principal Financial Group Inc. now owns 1,930,744 shares of the financial services provider’s stock valued at $76,457,000 after purchasing an additional 281,603 shares during the last quarter. Congress Asset Management Co. MA lifted its holdings in shares of Simply Good Foods by 7.4% during the first quarter. Congress Asset Management Co. MA now owns 1,313,011 shares of the financial services provider’s stock valued at $44,682,000 after purchasing an additional 90,154 shares during the last quarter. Finally, Norges Bank purchased a new position in shares of Simply Good Foods during the fourth quarter valued at approximately $39,991,000. 88.45% of the stock is currently owned by hedge funds and other institutional investors.

Simply Good Foods Stock Down 0.3 %

Shares of NASDAQ SMPL opened at $35.84 on Wednesday. The firm’s 50-day moving average price is $36.92 and its 200-day moving average price is $36.44. The company has a current ratio of 5.19, a quick ratio of 4.05 and a debt-to-equity ratio of 0.14. The stock has a market capitalization of $3.59 billion, a price-to-earnings ratio of 24.72, a P/E/G ratio of 2.55 and a beta of 0.61. The Simply Good Foods Company has a 12-month low of $30.00 and a 12-month high of $43.00.

Simply Good Foods (NASDAQ:SMPL) last announced its earnings results on Thursday, June 27th. The financial services provider reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.02. The firm had revenue of $334.80 million for the quarter, compared to analysts’ expectations of $337.66 million. Simply Good Foods had a net margin of 11.49% and a return on equity of 10.28%. The business’s revenue was up 3.1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.40 EPS. On average, equities research analysts anticipate that The Simply Good Foods Company will post 1.69 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Stifel Nicolaus boosted their price objective 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. DA Davidson lifted their target price on shares of Simply Good Foods from $35.00 to $38.00 and gave the stock a “neutral” rating in a research report on Monday, July 1st. Needham & Company LLC reissued a “buy” rating and set a $41.00 price objective on shares of Simply Good Foods in a research report on Friday, June 28th. Mizuho reaffirmed a “buy” rating and issued a $50.00 target price on shares of Simply Good Foods in a report on Friday, April 5th. Finally, Morgan Stanley reaffirmed an “overweight” rating and issued a $42.00 target price on shares of Simply Good Foods in a report on Thursday, April 11th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $40.29.

Insider Activity at Simply Good Foods

In related news, Director James D. White sold 4,000 shares of the company’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $38.17, for a total transaction of $152,680.00. Following the transaction, the director now directly owns 17,027 shares in the company, valued at approximately $649,920.59. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 10.98% of the stock is currently owned by insiders.

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.