Edgestream Partners L.P. Takes Position in The Simply Good Foods Company (NASDAQ:SMPL)

Edgestream Partners L.P. purchased a new stake in shares of The Simply Good Foods Company (NASDAQ:SMPL) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 18,324 shares of the financial services provider’s stock, valued at approximately $624,000.

Several other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of Simply Good Foods by 1.6% during the first quarter. Vanguard Group Inc. now owns 11,099,351 shares of the financial services provider’s stock valued at $377,711,000 after buying an additional 174,157 shares during the period. Dimensional Fund Advisors LP grew its stake in Simply Good Foods by 2.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,892,217 shares of the financial services provider’s stock valued at $114,535,000 after purchasing an additional 82,235 shares during the last quarter. Principal Financial Group Inc. grew its stake in Simply Good Foods by 17.1% in the fourth quarter. Principal Financial Group Inc. now owns 1,930,744 shares of the financial services provider’s stock valued at $76,457,000 after purchasing an additional 281,603 shares during the last quarter. Congress Asset Management Co. MA grew its stake in Simply Good Foods by 7.4% in the first quarter. Congress Asset Management Co. MA now owns 1,313,011 shares of the financial services provider’s stock valued at $44,682,000 after purchasing an additional 90,154 shares during the last quarter. Finally, Norges Bank purchased a new position in Simply Good Foods in the fourth quarter valued at about $39,991,000. Hedge funds and other institutional investors own 88.45% of the company’s stock.

Analysts Set New Price Targets

SMPL has been the topic of several analyst reports. Needham & Company LLC reiterated a “buy” rating and issued a $41.00 target price on shares of Simply Good Foods in a research note on Friday, June 28th. Deutsche Bank Aktiengesellschaft lifted their target price on Simply Good Foods from $36.00 to $37.00 and gave the company a “hold” rating in a research note on Friday, June 14th. TD Cowen began coverage on Simply Good Foods in a report on Monday, April 22nd. They issued a “hold” rating and a $34.00 price target for the company. Mizuho reissued a “buy” rating and issued a $50.00 price target on shares of Simply Good Foods in a report on Friday, April 5th. Finally, DA Davidson raised their price target on Simply Good Foods from $35.00 to $38.00 and gave the stock a “neutral” rating in a report on Monday, July 1st. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $40.29.

Insider Activity

In other news, Director James D. White sold 4,000 shares of the business’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $38.17, for a total value of $152,680.00. Following the completion of the sale, the director now directly owns 17,027 shares in the company, valued at $649,920.59. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 10.98% of the company’s stock.

Simply Good Foods Stock Performance

Shares of Simply Good Foods stock traded up $0.13 on Wednesday, reaching $33.68. 303,524 shares of the stock were exchanged, compared to its average volume of 878,502. The company has a quick ratio of 4.05, a current ratio of 5.19 and a debt-to-equity ratio of 0.14. The Simply Good Foods Company has a twelve month low of $30.00 and a twelve month high of $43.00. The firm has a market capitalization of $3.37 billion, a price-to-earnings ratio of 23.14, a PEG ratio of 2.48 and a beta of 0.61. The business has a 50 day moving average price of $36.69 and a two-hundred day moving average price of $36.16.

Simply Good Foods (NASDAQ:SMPL) last announced its quarterly earnings results on Thursday, June 27th. The financial services provider reported $0.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.02. Simply Good Foods had a return on equity of 10.28% and a net margin of 11.49%. The company had revenue of $334.80 million during the quarter, compared to the consensus estimate of $337.66 million. During the same period in the previous year, the company posted $0.40 earnings per share. Simply Good Foods’s revenue for the quarter was up 3.1% on a year-over-year basis. Analysts anticipate that The Simply Good Foods Company will post 1.69 earnings per share for the current fiscal 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.