Raymond James & Associates Has $1.20 Million Position in The Simply Good Foods Company (NASDAQ:SMPL)

Raymond James & Associates reduced its position in shares of The Simply Good Foods Company (NASDAQ:SMPL) by 48.1% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 30,387 shares of the financial services provider’s stock after selling 28,151 shares during the period. Raymond James & Associates’ holdings in Simply Good Foods were worth $1,203,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in SMPL. Vanguard Group Inc. raised its stake in shares of Simply Good Foods by 2.4% in the third quarter. Vanguard Group Inc. now owns 10,992,510 shares of the financial services provider’s stock worth $379,461,000 after acquiring an additional 259,144 shares during the last quarter. State Board of Administration of Florida Retirement System raised its stake in shares of Simply Good Foods by 79.5% in the third quarter. State Board of Administration of Florida Retirement System now owns 57,914 shares of the financial services provider’s stock worth $1,999,000 after acquiring an additional 25,650 shares during the last quarter. Assenagon Asset Management S.A. bought a new position in shares of Simply Good Foods in the third quarter worth about $2,877,000. Diversified Trust Co raised its stake in shares of Simply Good Foods by 7.5% in the fourth quarter. Diversified Trust Co now owns 20,793 shares of the financial services provider’s stock worth $823,000 after acquiring an additional 1,453 shares during the last quarter. Finally, Rhumbline Advisers raised its stake in shares of Simply Good Foods by 4.0% in the third quarter. Rhumbline Advisers now owns 259,500 shares of the financial services provider’s stock worth $8,958,000 after acquiring an additional 10,073 shares during the last quarter. 88.45% of the stock is owned by institutional investors.

Simply Good Foods Stock Performance

Shares of SMPL stock opened at $33.17 on Friday. The stock has a market cap of $3.32 billion, a P/E ratio of 23.86, a P/E/G ratio of 2.40 and a beta of 0.69. The company has a debt-to-equity ratio of 0.14, a current ratio of 4.20 and a quick ratio of 3.09. The company has a fifty day moving average price of $33.96 and a two-hundred day moving average price of $36.74. The Simply Good Foods Company has a one year low of $30.00 and a one year high of $43.00.

Insider Transactions at Simply Good Foods

In other news, Director Robert G. Montgomery sold 2,500 shares of the firm’s stock in a transaction dated 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 owns 52,738 shares in the company, valued at approximately $2,075,767.68. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 10.98% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

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

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.