Geode Capital Management LLC Buys 10,477 Shares of The Simply Good Foods Company (NASDAQ:SMPL)

Geode Capital Management LLC raised its stake in The Simply Good Foods Company (NASDAQ:SMPL) by 0.5% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,142,679 shares of the financial services provider’s stock after purchasing an additional 10,477 shares during the quarter. Geode Capital Management LLC’s holdings in Simply Good Foods were worth $74,515,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Boston Trust Walden Corp acquired a new position in Simply Good Foods during the third quarter worth $80,270,000. Armistice Capital LLC acquired a new position in shares of Simply Good Foods during the 2nd quarter worth about $34,582,000. FMR LLC increased its stake in shares of Simply Good Foods by 20.0% during the 3rd quarter. FMR LLC now owns 5,128,827 shares of the financial services provider’s stock worth $178,329,000 after purchasing an additional 855,070 shares during the last quarter. Massachusetts Financial Services Co. MA bought a new stake in shares of Simply Good Foods in the 3rd quarter valued at about $27,391,000. Finally, Victory Capital Management Inc. lifted its stake in Simply Good Foods by 107.0% in the 2nd quarter. Victory Capital Management Inc. now owns 920,802 shares of the financial services provider’s stock valued at $33,269,000 after purchasing an additional 475,928 shares during the last quarter. Institutional investors and hedge funds own 88.45% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Simply Good Foods Stock Down 1.3 %

SMPL stock opened at $38.35 on Friday. The Simply Good Foods Company has a fifty-two week low of $30.00 and a fifty-two week high of $43.00. The company has a debt-to-equity ratio of 0.23, a current ratio of 4.05 and a quick ratio of 2.75. The stock has a market capitalization of $3.87 billion, a price-to-earnings ratio of 27.79, a PEG ratio of 3.51 and a beta of 0.67. The business’s fifty day moving average price is $36.85 and its two-hundred day moving average price is $35.31.

Simply Good Foods (NASDAQ:SMPL) last released its quarterly earnings results on Thursday, October 24th. The financial services provider reported $0.50 EPS for the quarter, hitting analysts’ consensus estimates of $0.50. The business had revenue of $375.70 million for the quarter, compared to analyst estimates of $373.07 million. Simply Good Foods had a net margin of 10.46% and a return on equity of 10.23%. Simply Good Foods’s revenue for the quarter was up 17.3% compared to the same quarter last year. During the same period last year, the firm earned $0.41 earnings per share. On average, equities analysts anticipate that The Simply Good Foods Company will post 1.77 earnings per share for the current year.

Insider Activity

In other Simply Good Foods news, Director Joseph Scalzo sold 147,200 shares of the stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $36.86, for a total transaction of $5,425,792.00. Following the sale, the director now directly owns 141,439 shares in the company, valued at $5,213,441.54. This represents a 51.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Timothy Richard Kraft sold 21,209 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $36.50, for a total transaction of $774,128.50. Following the completion of the transaction, the insider now owns 40,068 shares of the company’s stock, valued at $1,462,482. The trade was a 34.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 327,869 shares of company stock worth $12,139,570. Corporate insiders own 9.35% 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.