HighTower Advisors LLC Grows Position in The Simply Good Foods Company (NASDAQ:SMPL)

HighTower Advisors LLC boosted its stake in The Simply Good Foods Company (NASDAQ:SMPL) by 3.9% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 13,504 shares of the financial services provider’s stock after purchasing an additional 501 shares during the period. HighTower Advisors LLC’s holdings in Simply Good Foods were worth $473,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Quarry LP purchased a new position in shares of Simply Good Foods in the second quarter valued at approximately $30,000. EverSource Wealth Advisors LLC boosted its holdings in Simply Good Foods by 236.4% in the second quarter. EverSource Wealth Advisors LLC now owns 1,766 shares of the financial services provider’s stock valued at $60,000 after purchasing an additional 1,241 shares during the period. Innealta Capital LLC acquired a new position in Simply Good Foods during the 2nd quarter worth $71,000. KBC Group NV raised its position in Simply Good Foods by 31.9% in the 3rd quarter. KBC Group NV now owns 3,084 shares of the financial services provider’s stock valued at $107,000 after purchasing an additional 746 shares in the last quarter. Finally, Canada Pension Plan Investment Board purchased a new position in shares of Simply Good Foods in the 2nd quarter valued at about $159,000. 88.45% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling

In related news, Director Joseph Scalzo sold 25,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $35.99, for a total transaction of $899,750.00. Following the transaction, the director now owns 139,204 shares of the company’s stock, valued at approximately $5,009,951.96. This represents a 15.22 % 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, CAO Timothy Allen Matthews sold 5,325 shares of the firm’s stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $37.31, for a total value of $198,675.75. Following the sale, the chief accounting officer now owns 17,063 shares in the company, valued at $636,620.53. This trade represents a 23.79 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 327,869 shares of company stock valued at $12,139,570. 9.35% of the stock is owned by insiders.

Simply Good Foods Trading Down 1.3 %

Shares of SMPL stock opened at $38.35 on Friday. The Simply Good Foods Company has a 1-year low of $30.00 and a 1-year 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 business’s fifty day moving average price is $36.85 and its 200 day moving average price is $35.31. The firm has a market capitalization of $3.87 billion, a PE ratio of 27.79, a P/E/G ratio of 3.51 and a beta of 0.67.

Simply Good Foods (NASDAQ:SMPL) last released its quarterly earnings data on Thursday, October 24th. The financial services provider reported $0.50 EPS for the quarter, hitting analysts’ consensus estimates of $0.50. Simply Good Foods had a net margin of 10.46% and a return on equity of 10.23%. The firm had revenue of $375.70 million for the quarter, compared to the consensus estimate of $373.07 million. During the same quarter in the previous year, the firm earned $0.41 earnings per share. The firm’s revenue was up 17.3% on a year-over-year basis. As a group, sell-side analysts forecast that The Simply Good Foods Company will post 1.77 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.