Pitcairn Co. Buys 615 Shares of The Simply Good Foods Company (NASDAQ:SMPL)

Pitcairn Co. lifted its stake in The Simply Good Foods Company (NASDAQ:SMPL) by 5.3% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 12,324 shares of the financial services provider’s stock after acquiring an additional 615 shares during the period. Pitcairn Co.’s holdings in Simply Good Foods were worth $480,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. R Squared Ltd bought a new position in shares of Simply Good Foods in the fourth quarter valued at approximately $26,000. CIBC Private Wealth Group LLC raised its holdings in Simply Good Foods by 72.4% in the 4th quarter. CIBC Private Wealth Group LLC now owns 1,060 shares of the financial services provider’s stock worth $38,000 after acquiring an additional 445 shares during the period. Quarry LP raised its holdings in Simply Good Foods by 64.7% in the 3rd quarter. Quarry LP now owns 1,357 shares of the financial services provider’s stock worth $47,000 after acquiring an additional 533 shares during the period. Smartleaf Asset Management LLC lifted its position in Simply Good Foods by 255.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,710 shares of the financial services provider’s stock worth $66,000 after acquiring an additional 1,229 shares during the last quarter. Finally, GAMMA Investing LLC grew its position in shares of Simply Good Foods by 215.6% in the fourth quarter. GAMMA Investing LLC now owns 1,758 shares of the financial services provider’s stock valued at $69,000 after purchasing an additional 1,201 shares during the last quarter. 88.45% of the stock is currently owned by institutional investors and hedge funds.

Simply Good Foods Stock Down 2.5 %

SMPL opened at $33.85 on Friday. The company has a market capitalization of $3.42 billion, a P/E ratio of 24.01, a P/E/G ratio of 3.23 and a beta of 0.63. The company has a debt-to-equity ratio of 0.20, a current ratio of 4.23 and a quick ratio of 2.75. The firm’s fifty day moving average price is $36.14 and its two-hundred day moving average price is $36.27. The Simply Good Foods Company has a fifty-two week low of $31.25 and a fifty-two week 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 earnings per share for the quarter, beating 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 business had revenue of $341.30 million for the quarter, compared to analyst estimates of $347.32 million. During the same period in the previous year, the business earned $0.43 EPS. The firm’s revenue was up 10.6% on a year-over-year basis. On average, analysts anticipate that The Simply Good Foods Company will post 1.78 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on SMPL. Morgan Stanley began coverage on Simply Good Foods in a research report on Monday, March 24th. They set an “equal weight” rating and a $36.00 price objective for the company. Mizuho reduced their price objective on Simply Good Foods from $48.00 to $45.00 and set an “outperform” rating for the company in a research report on Friday, January 10th. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, Simply Good Foods presently has an average rating of “Moderate Buy” and an average target price of $39.56.

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.