State of Alaska Department of Revenue Purchases 3,804 Shares of The Simply Good Foods Company $SMPL

State of Alaska Department of Revenue increased its position in The Simply Good Foods Company (NASDAQ:SMPL) by 7.5% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 54,731 shares of the financial services provider’s stock after purchasing an additional 3,804 shares during the period. State of Alaska Department of Revenue owned approximately 0.05% of Simply Good Foods worth $1,728,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. BI Asset Management Fondsmaeglerselskab A S purchased a new position in Simply Good Foods in the 1st quarter worth about $54,000. Caitong International Asset Management Co. Ltd purchased a new position in Simply Good Foods in the 1st quarter worth about $55,000. Quarry LP raised its position in Simply Good Foods by 59.7% in the 1st quarter. Quarry LP now owns 2,009 shares of the financial services provider’s stock worth $69,000 after buying an additional 751 shares during the last quarter. Russell Investments Group Ltd. raised its position in Simply Good Foods by 2,055.7% in the 1st quarter. Russell Investments Group Ltd. now owns 3,018 shares of the financial services provider’s stock worth $104,000 after buying an additional 2,878 shares during the last quarter. Finally, Banque Cantonale Vaudoise purchased a new position in Simply Good Foods in the 1st quarter worth about $105,000. Hedge funds and other institutional investors own 88.45% of the company’s stock.

Wall Street Analyst Weigh In

SMPL has been the subject of a number of recent analyst reports. Weiss Ratings reissued a “hold (c-)” rating on shares of Simply Good Foods in a research report on Saturday, September 27th. DA Davidson reduced their price target on shares of Simply Good Foods from $42.00 to $38.00 and set a “neutral” rating for the company in a research report on Monday, June 9th. Mizuho reduced their price target on shares of Simply Good Foods from $47.00 to $43.00 and set an “outperform” rating for the company in a research report on Tuesday, July 15th. Wall Street Zen lowered shares of Simply Good Foods from a “buy” rating to a “hold” rating in a research report on Saturday, June 21st. Finally, Citigroup reduced their price target on shares of Simply Good Foods from $43.00 to $40.00 and set a “buy” rating for the company in a research report on Wednesday, June 18th. Five investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $39.88.

Simply Good Foods Trading Up 1.5%

Shares of NASDAQ:SMPL opened at $24.68 on Friday. The stock has a 50 day moving average of $28.08 and a 200 day moving average of $32.12. The company has a market cap of $2.48 billion, a PE ratio of 17.26, a price-to-earnings-growth ratio of 2.57 and a beta of 0.53. The company has a current ratio of 3.95, a quick ratio of 2.46 and a debt-to-equity ratio of 0.14. The Simply Good Foods Company has a 12-month low of $23.89 and a 12-month high of $40.53.

Simply Good Foods (NASDAQ:SMPL) last announced its quarterly earnings data on Thursday, July 10th. The financial services provider reported $0.51 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.51. Simply Good Foods had a return on equity of 10.29% and a net margin of 9.97%.The company had revenue of $380.96 million during the quarter, compared to the consensus estimate of $381.68 million. During the same period in the previous year, the company posted $0.50 EPS. The firm’s revenue was up 13.8% on a year-over-year basis. As a group, equities research analysts expect that The Simply Good Foods Company will post 1.78 EPS for the current year.

Insider Activity at Simply Good Foods

In related news, CEO Geoff E. Tanner purchased 6,050 shares of the stock in a transaction that occurred on Wednesday, July 23rd. The stock was bought at an average cost of $33.11 per share, for a total transaction of $200,315.50. Following the completion of the transaction, the chief executive officer directly owned 98,190 shares in the company, valued at $3,251,070.90. This represents a 6.57% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 9.35% of the company’s stock.

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.