Wealthfront Advisers LLC Takes Position in The Simply Good Foods Company (NASDAQ:SMPL)

Wealthfront Advisers LLC purchased a new stake in shares of The Simply Good Foods Company (NASDAQ:SMPL) in the 4th quarter, Holdings Channel reports. The institutional investor purchased 202,259 shares of the financial services provider’s stock, valued at approximately $7,884,000.

Several other institutional investors have also added to or reduced their stakes in SMPL. State of New Jersey Common Pension Fund D boosted its position in Simply Good Foods by 23.6% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 62,573 shares of the financial services provider’s stock valued at $2,176,000 after buying an additional 11,951 shares during the period. Entropy Technologies LP purchased a new stake in shares of Simply Good Foods in the 3rd quarter worth about $241,000. Victory Capital Management Inc. lifted its position in shares of Simply Good Foods by 13.5% in the 3rd quarter. Victory Capital Management Inc. now owns 1,045,457 shares of the financial services provider’s stock worth $36,351,000 after purchasing an additional 124,655 shares during the period. KBC Group NV lifted its position in shares of Simply Good Foods by 31.9% in the 3rd quarter. KBC Group NV now owns 3,084 shares of the financial services provider’s stock worth $107,000 after purchasing an additional 746 shares during the period. Finally, Mutual of America Capital Management LLC lifted its position in shares of Simply Good Foods by 21.0% in the 3rd quarter. Mutual of America Capital Management LLC now owns 187,549 shares of the financial services provider’s stock worth $6,521,000 after purchasing an additional 32,561 shares during the period. Hedge funds and other institutional investors own 88.45% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on SMPL. Mizuho dropped their target price on shares of Simply Good Foods from $48.00 to $45.00 and set an “outperform” rating for the company in a research report on Friday, January 10th. Citigroup decreased 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 note on Thursday, November 14th. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, Simply Good Foods has an average rating of “Moderate Buy” and an average price target of $40.22.

Simply Good Foods Price Performance

Shares of NASDAQ:SMPL opened at $35.05 on Thursday. The firm has a market cap of $3.54 billion, a price-to-earnings ratio of 24.86, a P/E/G ratio of 3.23 and a beta of 0.65. The firm has a fifty day moving average price of $36.86 and a 200 day moving average price of $36.13. The company has a debt-to-equity ratio of 0.20, a quick ratio of 2.75 and a current ratio of 4.23. The Simply Good Foods Company has a fifty-two week low of $30.00 and a fifty-two week high of $40.53.

Simply Good Foods (NASDAQ:SMPL) last released its quarterly earnings results on Wednesday, January 8th. The financial services provider reported $0.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.43 by $0.06. Simply Good Foods had a net margin of 10.40% and a return on equity of 10.25%. The company had revenue of $341.30 million for the quarter, compared to the consensus estimate of $347.32 million. During the same quarter in the prior year, the firm earned $0.43 earnings per share. Simply Good Foods’s revenue was up 10.6% on a year-over-year basis. As a group, sell-side analysts expect that The Simply Good Foods Company will post 1.78 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.