Capital World Investors Sells 1,713,685 Shares of The Simply Good Foods Company (NASDAQ:SMPL)

Capital World Investors reduced its stake in The Simply Good Foods Company (NASDAQ:SMPL) by 40.1% in the 4th quarter, HoldingsChannel reports. The firm owned 2,554,690 shares of the financial services provider’s stock after selling 1,713,685 shares during the quarter. Capital World Investors’ holdings in Simply Good Foods were worth $99,582,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in SMPL. R Squared Ltd acquired a new stake in shares of Simply Good Foods in the 4th quarter valued at about $26,000. CIBC Private Wealth Group LLC boosted its holdings in Simply Good Foods by 72.4% in the fourth quarter. CIBC Private Wealth Group LLC now owns 1,060 shares of the financial services provider’s stock worth $38,000 after acquiring an additional 445 shares in the last quarter. Smartleaf Asset Management LLC grew its stake in Simply Good Foods by 255.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,710 shares of the financial services provider’s stock valued at $66,000 after acquiring an additional 1,229 shares during the period. GAMMA Investing LLC increased its holdings in shares of Simply Good Foods by 215.6% during the fourth quarter. GAMMA Investing LLC now owns 1,758 shares of the financial services provider’s stock valued at $69,000 after acquiring an additional 1,201 shares in the last quarter. Finally, Quadrant Capital Group LLC raised its position in shares of Simply Good Foods by 13.5% during the fourth quarter. Quadrant Capital Group LLC now owns 2,517 shares of the financial services provider’s stock worth $98,000 after purchasing an additional 300 shares during the period. Institutional investors and hedge funds own 88.45% of the company’s stock.

Analyst Upgrades and Downgrades

SMPL has been the topic of several research reports. Mizuho upped their price objective on shares of Simply Good Foods from $45.00 to $47.00 and gave the stock an “outperform” rating in a report on Friday, April 11th. DA Davidson raised their price target on shares of Simply Good Foods from $35.00 to $41.00 and gave the company a “neutral” rating in a research report on Friday, April 11th. Finally, Morgan Stanley boosted their price objective on Simply Good Foods from $36.00 to $37.00 and gave the stock an “equal weight” rating in a report on Thursday, April 10th. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $40.22.

Insiders Place Their Bets

In other news, SVP Stuart E. Jr. Heflin sold 5,000 shares of the company’s stock in a transaction on Friday, April 11th. The stock was sold at an average price of $37.25, for a total transaction of $186,250.00. Following the transaction, the senior vice president now owns 12,839 shares of the company’s stock, valued at $478,252.75. This represents a 28.03 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 9.35% of the company’s stock.

Simply Good Foods Stock Performance

SMPL stock opened at $36.19 on Tuesday. The business has a 50 day moving average of $35.70 and a 200-day moving average of $36.44. The firm has a market cap of $3.66 billion, a PE ratio of 25.67, a P/E/G ratio of 3.23 and a beta of 0.63. The Simply Good Foods Company has a 12-month low of $31.25 and a 12-month high of $40.53. The company has a quick ratio of 2.75, a current ratio of 4.23 and a debt-to-equity ratio of 0.20.

Simply Good Foods (NASDAQ:SMPL) last announced its quarterly earnings data on Wednesday, April 9th. The financial services provider reported $0.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.40 by $0.06. The firm had revenue of $359.70 million during the quarter, compared to the consensus estimate of $354.50 million. Simply Good Foods had a return on equity of 10.25% and a net margin of 10.40%. The business’s revenue for the quarter was up 15.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.40 EPS. As a group, sell-side analysts expect that The Simply Good Foods Company will post 1.78 earnings per share for the current year.

Simply Good Foods 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.