Mackenzie Financial Corp Purchases New Shares in The Simply Good Foods Company (NASDAQ:SMPL)

Mackenzie Financial Corp acquired a new stake in The Simply Good Foods Company (NASDAQ:SMPL) in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm acquired 5,570 shares of the financial services provider’s stock, valued at approximately $201,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Gabelli Funds LLC purchased a new position in Simply Good Foods in the fourth quarter valued at about $396,000. Congress Asset Management Co. MA lifted its stake in Simply Good Foods by 9.5% in the fourth quarter. Congress Asset Management Co. MA now owns 1,222,857 shares of the financial services provider’s stock valued at $48,425,000 after purchasing an additional 105,912 shares during the last quarter. Wellington Management Group LLP bought a new position in Simply Good Foods during the fourth quarter valued at $4,878,000. Moody National Bank Trust Division purchased a new stake in Simply Good Foods in the first quarter worth $234,000. Finally, Banque Cantonale Vaudoise bought a new stake in shares of Simply Good Foods in the first quarter valued at $103,000. Hedge funds and other institutional investors own 88.45% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on SMPL shares. Deutsche Bank Aktiengesellschaft increased their target price 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. Needham & Company LLC reiterated a “buy” rating and issued a $41.00 price objective on shares of Simply Good Foods in a research note on Friday, June 28th. DA Davidson increased their target price on Simply Good Foods from $35.00 to $38.00 and gave the stock a “neutral” rating in a research report on Monday, July 1st. Finally, Stifel Nicolaus lifted their price target on Simply Good Foods from $38.00 to $40.00 and gave the company a “buy” rating in a research report on Friday, June 14th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $40.29.

Insider Buying and Selling

In other news, SVP Stuart E. Jr. Heflin sold 1,058 shares of the stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $34.44, for a total value of $36,437.52. Following the sale, the senior vice president now directly owns 19,319 shares in the company, valued at approximately $665,346.36. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 10.98% of the stock is owned by corporate insiders.

Simply Good Foods Stock Down 1.2 %

Shares of SMPL opened at $33.80 on Tuesday. The company has a debt-to-equity ratio of 0.14, a current ratio of 5.19 and a quick ratio of 4.05. The stock has a market capitalization of $3.38 billion, a price-to-earnings ratio of 23.31, a price-to-earnings-growth ratio of 2.28 and a beta of 0.63. The Simply Good Foods Company has a 1 year low of $30.00 and a 1 year high of $43.00. The business’s 50 day simple moving average is $33.18 and its 200-day simple moving average is $34.75.

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.