Bank of New York Mellon Corp Lowers Position in The Simply Good Foods Company (NASDAQ:SMPL)

Bank of New York Mellon Corp decreased its holdings in shares of The Simply Good Foods Company (NASDAQ:SMPL) by 0.9% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 669,109 shares of the financial services provider’s stock after selling 5,981 shares during the period. Bank of New York Mellon Corp owned 0.66% of Simply Good Foods worth $26,082,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of SMPL. R Squared Ltd purchased a new position in Simply Good Foods during the fourth quarter valued at approximately $26,000. Quarry LP boosted its position in Simply Good Foods by 64.7% during the 3rd quarter. Quarry LP now owns 1,357 shares of the financial services provider’s stock valued at $47,000 after acquiring an additional 533 shares in the last quarter. GAMMA Investing LLC increased its holdings in shares of Simply Good Foods by 215.6% in the 4th quarter. GAMMA Investing LLC now owns 1,758 shares of the financial services provider’s stock valued at $69,000 after acquiring an additional 1,201 shares during the period. KBC Group NV raised its position in shares of 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 worth $107,000 after acquiring an additional 746 shares in the last quarter. Finally, Pacer Advisors Inc. lifted its stake in shares of Simply Good Foods by 39.5% during the 4th quarter. Pacer Advisors Inc. now owns 3,450 shares of the financial services provider’s stock worth $134,000 after purchasing an additional 976 shares during the last quarter. Institutional investors own 88.45% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on SMPL shares. Mizuho cut their target price on Simply Good Foods from $48.00 to $45.00 and set an “outperform” rating on the stock in a research note on Friday, January 10th. Citigroup cut their price objective on shares of 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 analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $40.22.

Simply Good Foods Stock Performance

Shares of Simply Good Foods stock opened at $36.53 on Monday. The firm has a market capitalization of $3.69 billion, a P/E ratio of 25.91, a PEG ratio of 3.23 and a beta of 0.65. The Simply Good Foods Company has a 52 week low of $30.00 and a 52 week high of $40.53. The company has a 50 day moving average price of $36.97 and a 200 day moving average price of $36.07. The company has a quick ratio of 2.75, a current ratio of 4.23 and a debt-to-equity ratio of 0.20.

Simply Good Foods (NASDAQ:SMPL) last issued its quarterly earnings results on Wednesday, January 8th. The financial services provider reported $0.49 EPS for the quarter, topping the consensus estimate of $0.43 by $0.06. Simply Good Foods had a net margin of 10.40% and a return on equity of 10.25%. The company had revenue of $341.30 million during the quarter, compared to analyst estimates of $347.32 million. During the same quarter in the previous year, the firm earned $0.43 EPS. The firm’s revenue was up 10.6% compared to the same quarter last year. Sell-side analysts expect that The Simply Good Foods Company will post 1.78 EPS for the current 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.