Charles Schwab Investment Management Inc. Increases Position in The Simply Good Foods Company $SMPL

Charles Schwab Investment Management Inc. raised its position in The Simply Good Foods Company (NASDAQ:SMPL) by 0.6% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,040,013 shares of the financial services provider’s stock after purchasing an additional 6,129 shares during the quarter. Charles Schwab Investment Management Inc. owned 1.03% of Simply Good Foods worth $35,870,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Banque Cantonale Vaudoise purchased a new stake in Simply Good Foods in the first quarter valued at approximately $105,000. Nisa Investment Advisors LLC raised its position in Simply Good Foods by 24.7% in the first quarter. Nisa Investment Advisors LLC now owns 3,808 shares of the financial services provider’s stock valued at $131,000 after purchasing an additional 754 shares during the period. Bayforest Capital Ltd raised its position in Simply Good Foods by 13.8% in the first quarter. Bayforest Capital Ltd now owns 4,599 shares of the financial services provider’s stock valued at $159,000 after purchasing an additional 557 shares during the period. Diversify Advisory Services LLC purchased a new stake in Simply Good Foods in the first quarter valued at approximately $201,000. Finally, Wealth Enhancement Advisory Services LLC acquired a new position in shares of Simply Good Foods in the fourth quarter worth $206,000. Hedge funds and other institutional investors own 88.45% of the company’s stock.

Simply Good Foods Stock Performance

NASDAQ:SMPL opened at $28.31 on Tuesday. The firm has a market capitalization of $2.85 billion, a PE ratio of 19.80, a price-to-earnings-growth ratio of 2.79 and a beta of 0.59. The business’s fifty day moving average price is $31.74 and its 200 day moving average price is $34.31. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.95 and a quick ratio of 2.46. The Simply Good Foods Company has a 12 month low of $28.14 and a 12 month high of $40.53.

Simply Good Foods (NASDAQ:SMPL) last posted its earnings results on Thursday, July 10th. The financial services provider reported $0.51 EPS for the quarter, beating the consensus estimate of $0.50 by $0.01. The firm had revenue of $380,956 billion for the quarter, compared to analyst estimates of $381.68 million. Simply Good Foods had a return on equity of 10.29% and a net margin of 9.97%. Simply Good Foods’s revenue for the quarter was up 13.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.50 earnings per share. On average, sell-side analysts anticipate that The Simply Good Foods Company will post 1.78 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Simply Good Foods news, CEO Geoff E. Tanner bought 6,050 shares of the company’s stock in a transaction that occurred on Wednesday, July 23rd. The shares were purchased at an average price of $33.11 per share, with a total value of $200,315.50. Following the completion of the acquisition, the chief executive officer directly owned 98,190 shares of the company’s stock, valued at $3,251,070.90. This represents a 6.57% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 9.35% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. UBS Group set a $36.00 price objective on Simply Good Foods and gave the stock a “neutral” rating in a research report on Tuesday, July 1st. Wall Street Zen lowered Simply Good Foods from a “buy” rating to a “hold” rating in a research report on Saturday, June 21st. Sanford C. Bernstein set a $45.00 price objective on Simply Good Foods and gave the stock an “outperform” rating in a research report on Friday, July 11th. Mizuho cut their price objective on Simply Good Foods from $47.00 to $43.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 15th. Finally, DA Davidson cut their price objective on Simply Good Foods from $42.00 to $38.00 and set a “neutral” rating on the stock in a research report on Monday, June 9th. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $39.88.

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.