The Simply Good Foods Company (NASDAQ:SMPL) Shares Sold by Salem Investment Counselors Inc.

Salem Investment Counselors Inc. cut its stake in shares of The Simply Good Foods Company (NASDAQ:SMPL) by 50.3% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 1,975 shares of the financial services provider’s stock after selling 2,000 shares during the period. Salem Investment Counselors Inc.’s holdings in Simply Good Foods were worth $67,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Pacer Advisors Inc. raised its position in shares of Simply Good Foods by 121.5% in the fourth 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 raised its position in shares of Simply Good Foods by 103.1% in the fourth quarter. Parkside Financial Bank & Trust now owns 853 shares of the financial services provider’s stock valued at $34,000 after buying an additional 433 shares during the last quarter. Principal Securities Inc. acquired a new stake in shares of Simply Good Foods in the fourth quarter valued at about $36,000. TFO Wealth Partners LLC raised its position in shares of Simply Good Foods by 59,100.0% in the fourth quarter. TFO Wealth Partners LLC now owns 1,184 shares of the financial services provider’s stock valued at $47,000 after buying an additional 1,182 shares during the last quarter. Finally, Blue Trust Inc. raised its position in shares of Simply Good Foods by 18.8% in the fourth quarter. Blue Trust Inc. now owns 1,846 shares of the financial services provider’s stock valued at $73,000 after buying an additional 292 shares during the last quarter. 88.45% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on SMPL shares. Mizuho restated a “buy” rating and set a $50.00 price objective on shares of Simply Good Foods in a research report on Friday, April 5th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Simply Good Foods from $36.00 to $37.00 and gave the stock a “hold” rating in a research report on Friday, June 14th. DA Davidson raised their price objective on shares of Simply Good Foods from $34.00 to $35.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 30th. TD Cowen started coverage on shares of Simply Good Foods in a research report on Monday, April 22nd. They set a “hold” rating and a $34.00 price objective for the company. Finally, Stifel Nicolaus increased their target price on shares of Simply Good Foods from $38.00 to $40.00 and gave the stock a “buy” rating in a research note on Friday, June 14th. Three equities 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, Simply Good Foods presently has an average rating of “Moderate Buy” and an average target price of $39.86.

Insider Activity at Simply Good Foods

In related news, Director James D. White sold 4,000 shares of the firm’s stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $38.17, for a total value of $152,680.00. Following the sale, the director now owns 17,027 shares of the company’s stock, valued at $649,920.59. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 10.98% of the stock is owned by corporate insiders.

Simply Good Foods Trading Up 1.8 %

NASDAQ SMPL opened at $36.94 on Monday. The firm has a 50 day simple moving average of $36.34 and a 200-day simple moving average of $36.74. The company has a debt-to-equity ratio of 0.14, a quick ratio of 3.09 and a current ratio of 4.20. The Simply Good Foods Company has a one year low of $30.00 and a one year high of $43.00. The firm has a market cap of $3.69 billion, a price-to-earnings ratio of 26.58, a PEG ratio of 2.13 and a beta of 0.65.

Simply Good Foods (NASDAQ:SMPL) last posted its quarterly earnings data on Thursday, April 4th. The financial services provider reported $0.36 EPS for the quarter, beating the consensus estimate of $0.35 by $0.01. Simply Good Foods had a net margin of 11.12% and a return on equity of 10.12%. The business had revenue of $312.20 million during the quarter, compared to analyst estimates of $313.57 million. Equities research analysts anticipate that The Simply Good Foods Company will post 1.7 EPS for the current fiscal year.

About Simply Good Foods

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.