Rhumbline Advisers Buys 13,295 Shares of The Simply Good Foods Company (NASDAQ:SMPL)

Rhumbline Advisers grew its stake in The Simply Good Foods Company (NASDAQ:SMPL) by 5.6% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 250,188 shares of the financial services provider’s stock after purchasing an additional 13,295 shares during the period. Rhumbline Advisers owned approximately 0.25% of Simply Good Foods worth $9,950,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Advisor Group Holdings Inc. lifted its position in Simply Good Foods by 7.2% in the first quarter. Advisor Group Holdings Inc. now owns 6,059 shares of the financial services provider’s stock worth $229,000 after buying an additional 407 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Simply Good Foods by 1.6% during the 1st quarter. JPMorgan Chase & Co. now owns 129,928 shares of the financial services provider’s stock worth $4,930,000 after purchasing an additional 2,098 shares during the period. Raymond James & Associates grew its holdings in Simply Good Foods by 2.7% during the 1st quarter. Raymond James & Associates now owns 45,543 shares of the financial services provider’s stock valued at $1,728,000 after purchasing an additional 1,205 shares during the last quarter. Citigroup Inc. raised its position in Simply Good Foods by 11.4% in the 1st quarter. Citigroup Inc. now owns 74,216 shares of the financial services provider’s stock worth $2,817,000 after purchasing an additional 7,583 shares during the period. Finally, PNC Financial Services Group Inc. grew its stake in shares of Simply Good Foods by 4.8% during the first quarter. PNC Financial Services Group Inc. now owns 6,454 shares of the financial services provider’s stock valued at $246,000 after buying an additional 296 shares during the last quarter. Hedge funds and other institutional investors own 88.15% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. Mizuho decreased their price target on Simply Good Foods from $45.00 to $42.00 and set a “buy” rating for the company in a research note on Friday, June 30th. Deutsche Bank Aktiengesellschaft lifted their target price on Simply Good Foods from $42.00 to $43.00 in a research report on Friday, June 16th. Finally, Needham & Company LLC restated a “buy” rating and issued a $42.00 price target on shares of Simply Good Foods in a report on Friday, June 30th. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $41.64.

Insider Activity at Simply Good Foods

In other Simply Good Foods news, insider Jill M. Short sold 5,410 shares of the business’s stock in a transaction dated Thursday, July 6th. The shares were sold at an average price of $37.34, for a total value of $202,009.40. Following the completion of the transaction, the insider now directly owns 33,188 shares in the company, valued at $1,239,239.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Brian K. Ratzan sold 300,000 shares of the business’s stock in a transaction dated Monday, July 24th. The stock was sold at an average price of $37.78, for a total transaction of $11,334,000.00. Following the sale, the director now owns 2,372,557 shares in the company, valued at $89,635,203.46. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jill M. Short sold 5,410 shares of the stock in a transaction that occurred on Thursday, July 6th. The shares were sold at an average price of $37.34, for a total transaction of $202,009.40. Following the completion of the transaction, the insider now directly owns 33,188 shares of the company’s stock, valued at $1,239,239.92. The disclosure for this sale can be found here. 3.99% of the stock is owned by corporate insiders.

Simply Good Foods Trading Up 0.3 %

NASDAQ SMPL opened at $36.18 on Monday. The Simply Good Foods Company has a one year low of $29.21 and a one year high of $40.15. The company has a debt-to-equity ratio of 0.21, a quick ratio of 3.43 and a current ratio of 4.91. The company has a market capitalization of $3.60 billion, a price-to-earnings ratio of 28.71 and a beta of 0.75. The company’s 50-day simple moving average is $36.59 and its two-hundred day simple moving average is $36.95.

Simply Good Foods (NASDAQ:SMPL) last issued its quarterly earnings data on Thursday, June 29th. The financial services provider reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.40 by $0.04. The company had revenue of $324.80 million for the quarter, compared to analyst estimates of $321.35 million. Simply Good Foods had a net margin of 10.62% and a return on equity of 9.65%. Simply Good Foods’s revenue was up 2.6% compared to the same quarter last year. During the same period last year, the company posted $0.44 earnings per share. Equities analysts forecast that The Simply Good Foods Company will post 1.52 EPS 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, pizzas, protein chips, and recipes, as well as licensed frozen meals under the Atkins, Atkins Endulge, and Quest brand names.