Bessemer Group Inc. Trims Stock Holdings in The Simply Good Foods Company (NASDAQ:SMPL)

Bessemer Group Inc. lessened its position in shares of The Simply Good Foods Company (NASDAQ:SMPL - Free Report) by 3.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 217,673 shares of the financial services provider's stock after selling 6,988 shares during the quarter. Bessemer Group Inc. owned 0.22% of Simply Good Foods worth $8,485,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of SMPL. FMR LLC increased its holdings in Simply Good Foods by 86.5% during the fourth quarter. FMR LLC now owns 9,566,199 shares of the financial services provider's stock valued at $372,890,000 after buying an additional 4,437,372 shares during the last quarter. Norges Bank bought a new stake in shares of Simply Good Foods during the 4th quarter valued at $44,006,000. Boston Trust Walden Corp grew its holdings in Simply Good Foods by 31.3% during the fourth quarter. Boston Trust Walden Corp now owns 3,031,574 shares of the financial services provider's stock valued at $118,171,000 after purchasing an additional 722,963 shares during the period. Wellington Management Group LLP increased its position in Simply Good Foods by 23.5% in the fourth quarter. Wellington Management Group LLP now owns 3,546,239 shares of the financial services provider's stock worth $138,232,000 after buying an additional 674,618 shares in the last quarter. Finally, Boston Partners raised its stake in shares of Simply Good Foods by 109.0% in the fourth quarter. Boston Partners now owns 1,221,285 shares of the financial services provider's stock worth $47,287,000 after buying an additional 637,038 shares during the period. Institutional investors own 88.45% of the company's stock.

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Wall Street Analysts Forecast Growth

Several brokerages have weighed in on SMPL. DA Davidson lifted their price target on shares of Simply Good Foods from $35.00 to $41.00 and gave the company a "neutral" rating in a report on Friday. Morgan Stanley lifted their target price on shares of Simply Good Foods from $36.00 to $37.00 and gave the company an "equal weight" rating in a research note on Thursday, April 10th. Finally, Mizuho increased their price target on Simply Good Foods from $45.00 to $47.00 and gave the stock an "outperform" rating in a research note on Friday. Four analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, Simply Good Foods presently has an average rating of "Moderate Buy" and an average target price of $40.22.

Simply Good Foods Price Performance

NASDAQ SMPL traded up $0.12 during trading on Tuesday, hitting $37.69. 960,146 shares of the stock traded hands, compared to its average volume of 930,066. The company has a quick ratio of 2.75, a current ratio of 4.23 and a debt-to-equity ratio of 0.20. The Simply Good Foods Company has a 12-month low of $31.25 and a 12-month high of $40.53. The firm has a 50-day simple moving average of $35.77 and a 200-day simple moving average of $36.35. The company has a market capitalization of $3.81 billion, a P/E ratio of 26.73, a price-to-earnings-growth ratio of 3.23 and a beta of 0.63.

Simply Good Foods (NASDAQ:SMPL - Get Free Report) last posted its earnings results on Wednesday, April 9th. The financial services provider reported $0.46 earnings per share for the quarter, beating analysts' consensus estimates of $0.40 by $0.06. Simply Good Foods had a net margin of 10.40% and a return on equity of 10.25%. The firm had revenue of $359.70 million during the quarter, compared to analyst estimates of $354.50 million. During the same period last year, the firm posted $0.40 earnings per share. Simply Good Foods's revenue for the quarter was up 15.2% compared to the same quarter last year. As a group, analysts predict that The Simply Good Foods Company will post 1.78 EPS for the current year.

Insider Transactions at Simply Good Foods

In other news, SVP Stuart E. Jr. Heflin sold 5,000 shares of Simply Good Foods stock in a transaction that occurred on Friday, April 11th. The stock was sold at an average price of $37.25, for a total value of $186,250.00. Following the completion of the transaction, the senior vice president now owns 12,839 shares in the company, valued at approximately $478,252.75. The trade was a 28.03 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 9.35% of the company's stock.

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.