The Simply Good Foods Company (NASDAQ:SMPL) Shares Bought by State Street Corp

State Street Corp increased its stake in The Simply Good Foods Company (NASDAQ:SMPL) by 6.0% during the third quarter, HoldingsChannel.com reports. The fund owned 3,666,190 shares of the financial services provider’s stock after buying an additional 208,070 shares during the period. State Street Corp’s holdings in Simply Good Foods were worth $127,473,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Massachusetts Financial Services Co. MA purchased a new position in Simply Good Foods in the 3rd quarter worth about $27,391,000. Mutual of America Capital Management LLC boosted its holdings in shares of Simply Good Foods by 21.0% in the third quarter. Mutual of America Capital Management LLC now owns 187,549 shares of the financial services provider’s stock worth $6,521,000 after buying an additional 32,561 shares during the period. SG Americas Securities LLC increased its position in shares of Simply Good Foods by 671.9% in the second quarter. SG Americas Securities LLC now owns 30,697 shares of the financial services provider’s stock worth $1,109,000 after acquiring an additional 26,720 shares in the last quarter. Quest Partners LLC increased its position in shares of Simply Good Foods by 65.0% in the third quarter. Quest Partners LLC now owns 41,277 shares of the financial services provider’s stock worth $1,435,000 after acquiring an additional 16,268 shares in the last quarter. Finally, FMR LLC raised its holdings in shares of Simply Good Foods by 20.0% during the third quarter. FMR LLC now owns 5,128,827 shares of the financial services provider’s stock valued at $178,329,000 after acquiring an additional 855,070 shares during the period. 88.45% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

SMPL has been the subject of a number of recent analyst reports. Stephens decreased their price objective on shares of Simply Good Foods from $44.00 to $42.00 and set an “overweight” rating for the company in a research note on Wednesday, October 23rd. Mizuho lifted their price target on Simply Good Foods from $40.00 to $45.00 and gave the company an “outperform” rating in a report on Monday, December 9th. Finally, Citigroup reduced their price objective on Simply Good Foods from $46.00 to $43.00 and set a “buy” rating for the company in a research note on Thursday, November 14th. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, Simply Good Foods has a consensus rating of “Moderate Buy” and an average target price of $40.22.

Simply Good Foods Price Performance

SMPL opened at $39.67 on Friday. The stock has a fifty day moving average price of $36.39 and a 200 day moving average price of $35.24. The company has a current ratio of 4.05, a quick ratio of 2.75 and a debt-to-equity ratio of 0.23. The Simply Good Foods Company has a 1 year low of $30.00 and a 1 year high of $43.00. The stock has a market cap of $3.98 billion, a price-to-earnings ratio of 28.75, a PEG ratio of 3.50 and a beta of 0.67.

Simply Good Foods (NASDAQ:SMPL) last announced its quarterly earnings results on Thursday, October 24th. The financial services provider reported $0.50 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.50. The business had revenue of $375.70 million during the quarter, compared to analyst estimates of $373.07 million. Simply Good Foods had a return on equity of 10.23% and a net margin of 10.46%. The firm’s revenue was up 17.3% on a year-over-year basis. During the same period in the previous year, the company earned $0.41 EPS. Analysts forecast that The Simply Good Foods Company will post 1.76 EPS for the current fiscal year.

Insiders Place Their Bets

In other Simply Good Foods news, Director Joseph Scalzo sold 25,000 shares of the business’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $35.99, for a total value of $899,750.00. Following the completion of the sale, the director now owns 139,204 shares of the company’s stock, valued at $5,009,951.96. The trade was a 15.22 % 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. Also, insider Timothy Richard Kraft sold 76,761 shares of the company’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $37.60, for a total value of $2,886,213.60. Following the sale, the insider now owns 40,068 shares of the company’s stock, valued at approximately $1,506,556.80. This trade represents a 65.70 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 327,869 shares of company stock valued at $12,139,570 over the last ninety days. Corporate insiders own 10.98% of the company’s stock.

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.