Intech Investment Management LLC Grows Holdings in The Simply Good Foods Company (NASDAQ:SMPL)

Intech Investment Management LLC grew its stake in shares of The Simply Good Foods Company (NASDAQ:SMPL) by 356.7% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 30,464 shares of the financial services provider’s stock after purchasing an additional 23,794 shares during the quarter. Intech Investment Management LLC’s holdings in Simply Good Foods were worth $1,059,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in SMPL. American Century Companies Inc. boosted its position in Simply Good Foods by 1.8% in the 2nd quarter. American Century Companies Inc. now owns 19,943 shares of the financial services provider’s stock valued at $721,000 after buying an additional 348 shares during the period. Fulton Bank N.A. boosted its holdings in shares of Simply Good Foods by 4.9% in the third quarter. Fulton Bank N.A. now owns 9,536 shares of the financial services provider’s stock valued at $332,000 after purchasing an additional 443 shares during the period. Arizona State Retirement System grew its stake in Simply Good Foods by 2.0% in the second quarter. Arizona State Retirement System now owns 26,592 shares of the financial services provider’s stock worth $961,000 after purchasing an additional 533 shares in the last quarter. GAMMA Investing LLC increased its holdings in Simply Good Foods by 182.4% during the 2nd quarter. GAMMA Investing LLC now owns 850 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 549 shares during the period. Finally, KBC Group NV raised its position in Simply Good Foods by 31.9% during the 3rd quarter. KBC Group NV now owns 3,084 shares of the financial services provider’s stock valued at $107,000 after purchasing an additional 746 shares in the last quarter. 88.45% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Stephens cut their price target on Simply Good Foods from $44.00 to $42.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 23rd. Citigroup lowered their price target on shares of Simply Good Foods from $46.00 to $43.00 and set a “buy” rating for the company in a research report on Thursday, November 14th. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, Simply Good Foods presently has a consensus rating of “Moderate Buy” and an average price target of $40.78.

Insiders Place Their Bets

In other news, insider Timothy Richard Kraft sold 76,761 shares of the stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $37.60, for a total value of $2,886,213.60. Following the transaction, the insider now directly owns 40,068 shares of the company’s stock, valued at approximately $1,506,556.80. This represents a 65.70 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Timothy Allen Matthews sold 5,325 shares of the firm’s stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $37.31, for a total value of $198,675.75. Following the completion of the transaction, the chief accounting officer now owns 17,063 shares of the company’s stock, valued at approximately $636,620.53. The trade was a 23.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 327,869 shares of company stock valued at $12,139,570. Insiders own 10.98% of the company’s stock.

Simply Good Foods Stock Performance

Shares of SMPL stock opened at $39.92 on Thursday. The Simply Good Foods Company has a 12-month low of $30.00 and a 12-month high of $43.00. The business’s fifty day simple moving average is $34.99 and its 200-day simple moving average is $35.03. The company has a current ratio of 4.05, a quick ratio of 2.75 and a debt-to-equity ratio of 0.23. The company has a market cap of $4.00 billion, a PE ratio of 28.93, a PEG ratio of 3.52 and a beta of 0.64.

Simply Good Foods (NASDAQ:SMPL) last released its quarterly earnings results on Thursday, October 24th. The financial services provider reported $0.50 EPS for the quarter, meeting analysts’ consensus estimates of $0.50. Simply Good Foods had a return on equity of 10.23% and a net margin of 10.46%. The company had revenue of $375.70 million during the quarter, compared to analysts’ expectations of $373.07 million. During the same period last year, the business posted $0.41 earnings per share. The firm’s revenue was up 17.3% compared to the same quarter last year. Analysts expect that The Simply Good Foods Company will post 1.76 earnings per share for the current fiscal 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.