Wellington Management Group LLP Invests $4.88 Million in The Simply Good Foods Company (NASDAQ:SMPL)

Wellington Management Group LLP acquired a new stake in shares of The Simply Good Foods Company (NASDAQ:SMPL) during the fourth quarter, according to its most recent filing with the SEC. The fund acquired 123,194 shares of the financial services provider’s stock, valued at approximately $4,878,000. Wellington Management Group LLP owned 0.12% of Simply Good Foods as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Pacer Advisors Inc. grew its holdings in Simply Good Foods by 121.5% during the 4th 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 in the last quarter. Parkside Financial Bank & Trust lifted its stake in Simply Good Foods by 103.1% in the 4th quarter. Parkside Financial Bank & Trust now owns 853 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 433 shares in the last quarter. Principal Securities Inc. bought a new position in Simply Good Foods in the 4th quarter valued at $36,000. TFO Wealth Partners LLC grew its position in shares of Simply Good Foods by 59,100.0% during the 4th quarter. TFO Wealth Partners LLC now owns 1,184 shares of the financial services provider’s stock valued at $47,000 after purchasing an additional 1,182 shares in the last quarter. Finally, Blue Trust Inc. increased its holdings 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 worth $73,000 after purchasing an additional 292 shares during the period. 88.45% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms recently commented on SMPL. Needham & Company LLC restated a “buy” rating and issued a $41.00 target price on shares of Simply Good Foods in a research note on Friday. DA Davidson upped 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. Mizuho reiterated a “buy” rating and set a $50.00 target price on shares of Simply Good Foods in a research report on Friday, April 5th. Morgan Stanley reissued an “overweight” rating and issued a $42.00 price target on shares of Simply Good Foods in a report on Thursday, April 11th. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Simply Good Foods from $36.00 to $37.00 and gave the stock a “hold” rating in a report on Friday, June 14th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Simply Good Foods has a consensus rating of “Moderate Buy” and a consensus price target of $39.86.

Simply Good Foods Trading Up 1.2 %

Shares of SMPL opened at $36.13 on Friday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 3.09 and a current ratio of 5.19. The Simply Good Foods Company has a fifty-two week low of $30.00 and a fifty-two week high of $43.00. The firm has a 50 day moving average price of $36.71 and a 200-day moving average price of $36.64. The firm has a market cap of $3.61 billion, a price-to-earnings ratio of 24.92, a PEG ratio of 2.10 and a beta of 0.65.

Simply Good Foods (NASDAQ:SMPL) last posted its quarterly earnings results on Thursday, April 4th. The financial services provider reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.01. Simply Good Foods had a net margin of 11.49% and a return on equity of 10.28%. The business had revenue of $312.20 million during the quarter, compared to analyst estimates of $313.57 million. As a group, equities research analysts forecast that The Simply Good Foods Company will post 1.7 earnings per share for the current year.

Insider Activity at Simply Good Foods

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