JPMorgan Chase & Co. Trims Holdings in The Simply Good Foods Company (NASDAQ:SMPL)

JPMorgan Chase & Co. reduced its holdings in shares of The Simply Good Foods Company (NASDAQ:SMPL) by 24.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 287,598 shares of the financial services provider’s stock after selling 93,961 shares during the period. JPMorgan Chase & Co. owned 0.28% of Simply Good Foods worth $10,000,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of SMPL. American Century Companies Inc. grew its holdings in shares of Simply Good Foods by 1.8% during the second quarter. American Century Companies Inc. now owns 19,943 shares of the financial services provider’s stock valued at $721,000 after buying an additional 348 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Simply Good Foods by 6.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,223,666 shares of the financial services provider’s stock worth $116,468,000 after buying an additional 203,914 shares during the last quarter. Mutual of America Capital Management LLC grew its holdings in shares of Simply Good Foods by 60.7% in the second quarter. Mutual of America Capital Management LLC now owns 154,988 shares of the financial services provider’s stock worth $5,600,000 after acquiring an additional 58,553 shares during the period. Intech Investment Management LLC purchased a new stake in Simply Good Foods during the second quarter valued at $241,000. Finally, Canada Pension Plan Investment Board bought a new position in Simply Good Foods in the second quarter valued at about $159,000. 88.45% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Simply Good Foods news, insider Timothy Richard Kraft sold 21,209 shares of the stock in a transaction dated 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 sale, the insider now directly owns 40,068 shares of the company’s stock, valued at approximately $1,462,482. This represents a 34.61 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Joseph Scalzo sold 25,000 shares of the company’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $35.99, for a total value of $899,750.00. Following the transaction, the director now directly owns 139,204 shares in the company, valued at approximately $5,009,951.96. The trade was a 15.22 % 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 valued at $12,139,570. 9.35% of the stock is currently owned by company insiders.

Simply Good Foods Stock Down 4.1 %

Shares of SMPL opened at $34.36 on Monday. The business’s 50 day simple moving average is $38.26 and its 200-day simple moving average is $35.41. 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 $3.47 billion, a price-to-earnings ratio of 24.90, a price-to-earnings-growth ratio of 3.51 and a beta of 0.67. The Simply Good Foods Company has a 1 year low of $30.00 and a 1 year high of $42.37.

Simply Good Foods (NASDAQ:SMPL) last released its quarterly earnings results on Wednesday, January 8th. The financial services provider reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.43 by $0.06. Simply Good Foods had a return on equity of 10.23% and a net margin of 10.46%. The company had revenue of $341.30 million for the quarter, compared to analyst estimates of $347.32 million. During the same quarter in the prior year, the firm posted $0.43 EPS. Simply Good Foods’s quarterly revenue was up 10.6% compared to the same quarter last year. As a group, equities analysts expect that The Simply Good Foods Company will post 1.77 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on SMPL. Stephens decreased their price target 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. Mizuho decreased their price target on Simply Good Foods from $48.00 to $45.00 and set an “outperform” rating on the stock in a report on Friday. Finally, Citigroup dropped their price objective on Simply Good Foods from $46.00 to $43.00 and set a “buy” rating for the company in a research note on Thursday, November 14th. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, Simply Good Foods has a consensus rating of “Moderate Buy” and a consensus target price of $40.22.

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.