Madison Investment Advisors LLC Makes New $7.20 Million Investment in The Simply Good Foods Company (NASDAQ:SMPL)

Madison Investment Advisors LLC acquired a new position in shares of The Simply Good Foods Company (NASDAQ:SMPL) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 184,809 shares of the financial services provider’s stock, valued at approximately $7,204,000. Madison Investment Advisors LLC owned approximately 0.18% of Simply Good Foods at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. R Squared Ltd acquired a new position in Simply Good Foods during the 4th quarter worth $26,000. Quarry LP lifted its position in shares of Simply Good Foods by 64.7% in the 3rd quarter. Quarry LP now owns 1,357 shares of the financial services provider’s stock worth $47,000 after buying an additional 533 shares during the last quarter. Smartleaf Asset Management LLC lifted its position in shares of Simply Good Foods by 255.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,710 shares of the financial services provider’s stock worth $66,000 after buying an additional 1,229 shares during the last quarter. GAMMA Investing LLC lifted its position in shares of Simply Good Foods by 215.6% in the 4th quarter. GAMMA Investing LLC now owns 1,758 shares of the financial services provider’s stock worth $69,000 after buying an additional 1,201 shares during the last quarter. Finally, Parkside Financial Bank & Trust lifted its position in shares of Simply Good Foods by 119.1% in the 4th quarter. Parkside Financial Bank & Trust now owns 2,861 shares of the financial services provider’s stock worth $112,000 after buying an additional 1,555 shares during the last quarter. 88.45% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

SMPL has been the topic of a number of recent research reports. Mizuho reduced their price target on shares of Simply Good Foods from $48.00 to $45.00 and set an “outperform” rating on the stock in a research report on Friday, January 10th. Citigroup reduced their price target on shares of Simply Good Foods from $46.00 to $43.00 and set a “buy” rating on the stock in a research report on Thursday, November 14th. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $40.22.

Simply Good Foods Stock Performance

Simply Good Foods stock opened at $34.27 on Friday. The firm’s 50 day simple moving average is $36.78 and its 200-day simple moving average is $36.12. The company has a market cap of $3.46 billion, a P/E ratio of 24.31, a price-to-earnings-growth ratio of 3.23 and a beta of 0.65. The company has a debt-to-equity ratio of 0.20, a current ratio of 4.23 and a quick ratio of 2.75. 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 earnings results on Wednesday, January 8th. The financial services provider reported $0.49 earnings per share for the quarter, topping the consensus estimate of $0.43 by $0.06. The business had revenue of $341.30 million for the quarter, compared to the consensus estimate of $347.32 million. Simply Good Foods had a net margin of 10.40% and a return on equity of 10.25%. The firm’s quarterly revenue was up 10.6% compared to the same quarter last year. During the same period last year, the firm posted $0.43 earnings per share. As a group, equities research analysts predict that The Simply Good Foods Company will post 1.78 EPS for the current year.

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.