Fifth Third Bancorp Has $1.65 Million Position in The Simply Good Foods Company $SMPL

Fifth Third Bancorp increased its position in The Simply Good Foods Company (NASDAQ:SMPL) by 9,700.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 114,859 shares of the financial services provider’s stock after purchasing an additional 113,687 shares during the quarter. Fifth Third Bancorp owned approximately 0.13% of Simply Good Foods worth $1,648,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Vanguard Group Inc. increased its holdings in Simply Good Foods by 2.4% in the fourth quarter. Vanguard Group Inc. now owns 10,631,429 shares of the financial services provider’s stock valued at $213,479,000 after purchasing an additional 249,405 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in Simply Good Foods by 8.8% in the third quarter. Dimensional Fund Advisors LP now owns 4,288,680 shares of the financial services provider’s stock valued at $106,443,000 after purchasing an additional 346,395 shares in the last quarter. State Street Corp boosted its position in shares of Simply Good Foods by 0.4% during the second quarter. State Street Corp now owns 3,645,749 shares of the financial services provider’s stock worth $115,169,000 after purchasing an additional 14,089 shares in the last quarter. Boston Trust Walden Corp boosted its position in shares of Simply Good Foods by 10.0% during the first quarter. Boston Trust Walden Corp now owns 3,635,464 shares of the financial services provider’s stock worth $52,169,000 after purchasing an additional 330,330 shares in the last quarter. Finally, William Blair Investment Management LLC grew its holdings in shares of Simply Good Foods by 28.4% in the 4th quarter. William Blair Investment Management LLC now owns 2,124,640 shares of the financial services provider’s stock valued at $42,663,000 after buying an additional 469,903 shares during the period. 88.45% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts recently commented on SMPL shares. TD Cowen reaffirmed a “hold” rating on shares of Simply Good Foods in a research note on Friday, July 10th. Stephens restated an “equal weight” rating and issued a $14.00 price target (down from $24.00) on shares of Simply Good Foods in a report on Friday, April 10th. Zacks Research upgraded Simply Good Foods from a “strong sell” rating to a “hold” rating in a report on Monday, June 8th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $14.00 price objective on shares of Simply Good Foods in a research report on Friday, July 10th. Finally, Jefferies Financial Group set a $17.00 target price on Simply Good Foods in a research note on Tuesday, June 30th. Three analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $15.20.

Simply Good Foods Price Performance

NASDAQ SMPL opened at $10.28 on Friday. The company has a quick ratio of 3.10, a current ratio of 4.80 and a debt-to-equity ratio of 0.28. The Simply Good Foods Company has a 12-month low of $10.12 and a 12-month high of $33.44. The company has a market capitalization of $909.37 million, a PE ratio of -4.74 and a beta of 0.13. The firm’s 50 day moving average is $12.17 and its 200-day moving average is $14.48.

Simply Good Foods (NASDAQ:SMPL) last announced its earnings results on Thursday, July 9th. The financial services provider reported $0.42 EPS for the quarter, topping the consensus estimate of $0.35 by $0.07. Simply Good Foods had a negative net margin of 14.28% and a positive return on equity of 9.34%. The business had revenue of $356.98 million during the quarter, compared to analysts’ expectations of $332.99 million. During the same quarter in the prior year, the company posted $0.51 earnings per share. The firm’s revenue was down 6.3% on a year-over-year basis. Equities research analysts anticipate that The Simply Good Foods Company will post 1.54 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Clayton C. Daley, Jr. purchased 10,000 shares of Simply Good Foods stock in a transaction that occurred on Thursday, May 14th. The stock was purchased at an average cost of $11.78 per share, with a total value of $117,800.00. Following the completion of the transaction, the director owned 111,743 shares of the company’s stock, valued at approximately $1,316,332.54. This trade represents a 9.83% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 8.76% of the company’s stock.

Simply Good Foods Profile

Simply Good Foods Co (NASDAQ: SMPL) is a North American consumer packaged foods company specializing in better-for-you nutrition products. The company’s portfolio centers on two well-established brands, Atkins and Quest, which offer a range of low-carbohydrate, high-protein bars, powders, shakes, and snacks. Simply Good Foods aims to support consumers’ health and wellness goals by delivering convenient, nutrient-dense options without added sugars or artificial sweeteners.

Under the Atkins brand, the company produces meal replacements, snack bars, and ready-to-drink shakes designed for low-carb dieters.