Envestnet Asset Management Inc. Boosts Stake in The Simply Good Foods Company (NASDAQ:SMPL)

Envestnet Asset Management Inc. raised its position in shares of The Simply Good Foods Company (NASDAQ:SMPLFree Report) by 8.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 121,487 shares of the financial services provider’s stock after acquiring an additional 9,306 shares during the period. Envestnet Asset Management Inc. owned approximately 0.12% of Simply Good Foods worth $4,445,000 at the end of the most recent reporting period.

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

Insider Buying and Selling at Simply Good Foods

In other news, insider Timothy Richard Kraft sold 4,379 shares of the stock in a transaction on Thursday, November 9th. The stock was sold at an average price of $38.00, for a total transaction of $166,402.00. Following the completion of the sale, the insider now owns 42,363 shares in the company, valued at approximately $1,609,794. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 11.26% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research firms recently commented on SMPL. Needham & Company LLC reiterated a “buy” rating and issued a $42.00 price target on shares of Simply Good Foods in a research note on Wednesday, October 25th. Morgan Stanley upgraded Simply Good Foods from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $37.00 to $40.00 in a research note on Monday, September 18th. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, Simply Good Foods presently has a consensus rating of “Moderate Buy” and a consensus target price of $42.18.

Read Our Latest Report on SMPL

Simply Good Foods Stock Up 0.3 %

Shares of Simply Good Foods stock opened at $38.83 on Tuesday. The company has a current ratio of 4.14, a quick ratio of 2.84 and a debt-to-equity ratio of 0.18. The business’s 50 day simple moving average is $35.37 and its 200-day simple moving average is $36.15. The stock has a market capitalization of $3.87 billion, a price-to-earnings ratio of 29.42, a PEG ratio of 2.69 and a beta of 0.75. The Simply Good Foods Company has a twelve month low of $31.06 and a twelve month high of $40.15.

Simply Good Foods (NASDAQ:SMPLGet Free Report) last issued its quarterly earnings data on Tuesday, October 24th. The financial services provider reported $0.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.44 by $0.01. The business had revenue of $320.42 million during the quarter, compared to analyst estimates of $319.55 million. Simply Good Foods had a return on equity of 10.14% and a net margin of 10.75%. The business’s revenue for the quarter was up 16.9% compared to the same quarter last year. During the same period in the prior year, the company posted $0.33 EPS. Equities research analysts forecast that The Simply Good Foods Company will post 1.68 earnings per share for the current year.

Simply Good Foods Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Simply Good Foods (NASDAQ:SMPL)

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