The Simply Good Foods Company (NASDAQ:SMPL) Shares Sold by State of Alaska Department of Revenue

State of Alaska Department of Revenue lowered its position in shares of The Simply Good Foods Company (NASDAQ:SMPL) by 1.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 50,927 shares of the financial services provider’s stock after selling 905 shares during the period. State of Alaska Department of Revenue owned 0.05% of Simply Good Foods worth $1,756,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Wells Fargo & Company MN grew its stake in shares of Simply Good Foods by 50.2% during the fourth quarter. Wells Fargo & Company MN now owns 45,685 shares of the financial services provider’s stock worth $1,781,000 after purchasing an additional 15,275 shares in the last quarter. Wealth Enhancement Advisory Services LLC acquired a new position in shares of Simply Good Foods during the fourth quarter worth $206,000. Assenagon Asset Management S.A. acquired a new position in shares of Simply Good Foods during the first quarter worth $1,437,000. Smartleaf Asset Management LLC grew its stake in shares of Simply Good Foods by 255.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,710 shares of the financial services provider’s stock worth $66,000 after purchasing an additional 1,229 shares in the last quarter. Finally, Rhumbline Advisers grew its stake in shares of Simply Good Foods by 0.8% during the first quarter. Rhumbline Advisers now owns 255,703 shares of the financial services provider’s stock worth $8,819,000 after purchasing an additional 1,904 shares in the last quarter. Institutional investors and hedge funds own 88.45% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. Mizuho boosted their target price on shares of Simply Good Foods from $45.00 to $47.00 and gave the stock an “outperform” rating in a research note on Friday, April 11th. Wall Street Zen downgraded shares of Simply Good Foods from a “buy” rating to a “hold” rating in a research note on Saturday. Citigroup lowered their target price on shares of Simply Good Foods from $43.00 to $40.00 and set a “buy” rating for the company in a research note on Wednesday, June 18th. UBS Group assumed coverage on shares of Simply Good Foods in a research note on Wednesday, April 23rd. They issued a “neutral” rating and a $41.00 price objective for the company. Finally, Morgan Stanley upped their price objective on shares of Simply Good Foods from $36.00 to $37.00 and gave the company an “equal weight” rating in a research note on Thursday, April 10th. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $40.86.

Insiders Place Their Bets

In other news, SVP Stuart E. Jr. Heflin sold 5,000 shares of the stock in a transaction that occurred on Friday, April 11th. The shares were sold at an average price of $37.25, for a total value of $186,250.00. Following the sale, the senior vice president now directly owns 12,839 shares in the company, valued at $478,252.75. This represents a 28.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 9.35% of the stock is currently owned by company insiders.

Simply Good Foods Trading Up 1.0%

NASDAQ SMPL opened at $32.60 on Tuesday. The stock has a market capitalization of $3.29 billion, a P/E ratio of 22.64, a P/E/G ratio of 2.71 and a beta of 0.72. The Simply Good Foods Company has a 52-week low of $31.25 and a 52-week high of $40.53. The firm has a 50-day moving average price of $34.97 and a 200 day moving average price of $36.03. The company has a quick ratio of 2.70, a current ratio of 4.27 and a debt-to-equity ratio of 0.16.

Simply Good Foods (NASDAQ:SMPL) last posted its quarterly earnings results on Wednesday, April 9th. The financial services provider reported $0.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.40 by $0.06. The firm had revenue of $359.70 million during the quarter, compared to analysts’ expectations of $354.50 million. Simply Good Foods had a net margin of 10.31% and a return on equity of 10.39%. The firm’s revenue for the quarter was up 15.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.40 earnings per share. Equities research analysts expect that The Simply Good Foods Company will post 1.78 EPS for the current year.

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.