Raymond James Financial Inc. Takes $1.86 Million Position in The Simply Good Foods Company (NASDAQ:SMPL)

Raymond James Financial Inc. bought a new stake in shares of The Simply Good Foods Company (NASDAQ:SMPL) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 47,787 shares of the financial services provider’s stock, valued at approximately $1,863,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in SMPL. Charles Schwab Investment Management Inc. increased its stake in shares of Simply Good Foods by 5.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 990,010 shares of the financial services provider’s stock valued at $34,423,000 after acquiring an additional 54,334 shares during the period. Citigroup Inc. boosted its stake in Simply Good Foods by 60.1% during the 3rd quarter. Citigroup Inc. now owns 122,849 shares of the financial services provider’s stock valued at $4,271,000 after purchasing an additional 46,126 shares in the last quarter. Cerity Partners LLC boosted its stake in Simply Good Foods by 36.1% during the 3rd quarter. Cerity Partners LLC now owns 24,297 shares of the financial services provider’s stock valued at $845,000 after purchasing an additional 6,450 shares in the last quarter. FMR LLC raised its stake in shares of Simply Good Foods by 20.0% in the 3rd quarter. FMR LLC now owns 5,128,827 shares of the financial services provider’s stock worth $178,329,000 after buying an additional 855,070 shares in the last quarter. Finally, Glenmede Trust Co. NA raised its stake in shares of Simply Good Foods by 5.5% in the 3rd quarter. Glenmede Trust Co. NA now owns 13,452 shares of the financial services provider’s stock worth $468,000 after buying an additional 702 shares in the last quarter. 88.45% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

SMPL has been the topic of a number of research analyst reports. Mizuho lowered their target price on Simply Good Foods from $48.00 to $45.00 and set an “outperform” rating on the stock in a report on Friday, January 10th. Morgan Stanley assumed coverage on shares of Simply Good Foods in a research note on Monday, March 24th. They issued an “equal weight” rating and a $36.00 price objective on the stock. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $39.56.

Simply Good Foods Trading Up 0.3 %

NASDAQ:SMPL opened at $34.49 on Tuesday. The stock has a fifty day simple moving average of $36.34 and a 200 day simple moving average of $36.26. The firm has a market capitalization of $3.48 billion, a price-to-earnings ratio of 24.46, a price-to-earnings-growth ratio of 3.23 and a beta of 0.65. The company has a quick ratio of 2.75, a current ratio of 4.23 and a debt-to-equity ratio of 0.20. The Simply Good Foods Company has a 1-year low of $30.00 and a 1-year high of $40.53.

Simply Good Foods (NASDAQ:SMPL) last issued its 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. The business had revenue of $341.30 million during the quarter, compared to analysts’ expectations of $347.32 million. Simply Good Foods had a return on equity of 10.25% and a net margin of 10.40%. Simply Good Foods’s revenue was up 10.6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.43 earnings per share. Sell-side analysts forecast that The Simply Good Foods Company will post 1.78 earnings per share for the current year.

Simply Good Foods Company 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.