Allspring Global Investments Holdings LLC Trims Stock Position in The Simply Good Foods Company (NASDAQ:SMPL)

Allspring Global Investments Holdings LLC cut its stake in shares of The Simply Good Foods Company (NASDAQ:SMPL) by 60.0% during the fourth quarter, HoldingsChannel.com reports. The fund owned 83,140 shares of the financial services provider’s stock after selling 124,808 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Simply Good Foods were worth $3,292,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the stock. Advisor Group Holdings Inc. increased its holdings in Simply Good Foods by 7.2% during the first quarter. Advisor Group Holdings Inc. now owns 6,059 shares of the financial services provider’s stock valued at $229,000 after buying an additional 407 shares during the period. JPMorgan Chase & Co. increased its holdings in Simply Good Foods by 1.6% during the first quarter. JPMorgan Chase & Co. now owns 129,928 shares of the financial services provider’s stock valued at $4,930,000 after buying an additional 2,098 shares during the period. Raymond James & Associates increased its holdings in Simply Good Foods by 2.7% during the first quarter. Raymond James & Associates now owns 45,543 shares of the financial services provider’s stock valued at $1,728,000 after buying an additional 1,205 shares during the period. Citigroup Inc. increased its holdings in Simply Good Foods by 11.4% during the first quarter. Citigroup Inc. now owns 74,216 shares of the financial services provider’s stock valued at $2,817,000 after buying an additional 7,583 shares during the period. Finally, PNC Financial Services Group Inc. increased its holdings in 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 period. 88.45% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Simply Good Foods

In other news, Director Robert G. Montgomery sold 2,500 shares of Simply Good Foods stock in a transaction on Thursday, January 25th. The shares were sold at an average price of $39.36, for a total transaction of $98,400.00. Following the completion of the sale, the director now directly owns 52,738 shares in the company, valued at $2,075,767.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 10.98% of the company’s stock.

Simply Good Foods Price Performance

Shares of SMPL opened at $33.17 on Friday. The company has a market cap of $3.32 billion, a price-to-earnings ratio of 23.86, a price-to-earnings-growth ratio of 2.40 and a beta of 0.69. The Simply Good Foods Company has a twelve month low of $30.00 and a twelve month high of $43.00. The company has a quick ratio of 3.09, a current ratio of 4.20 and a debt-to-equity ratio of 0.14. The company has a 50 day moving average of $33.96 and a two-hundred day moving average of $36.74.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. Morgan Stanley reissued an “overweight” rating and set a $42.00 price objective on shares of Simply Good Foods in a report on Thursday, April 11th. Stifel Nicolaus cut their price objective on shares of Simply Good Foods from $48.00 to $38.00 and set a “buy” rating on the stock in a report on Thursday, March 28th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $42.00 target price (up from $41.00) on shares of Simply Good Foods in a research note on Tuesday, January 2nd. DA Davidson lowered their target price on shares of Simply Good Foods from $39.00 to $34.00 and set a “neutral” rating for the company in a research note on Friday, April 5th. Finally, Needham & Company LLC lowered their target price on shares of Simply Good Foods from $45.00 to $41.00 and set a “buy” rating for the company in a research note on Friday, April 5th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, Simply Good Foods currently has an average rating of “Moderate Buy” and an average price target of $41.17.

Simply Good Foods 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.