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 - Free Report) by 40.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,554,690 shares of the financial services provider's stock after selling 1,713,685 shares during the period. Capital World Investors owned 2.53% of Simply Good Foods worth $99,582,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of SMPL. R Squared Ltd acquired a new position in Simply Good Foods in the 4th quarter valued at about $26,000. CIBC Private Wealth Group LLC grew its position in shares of 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 valued at $38,000 after purchasing an additional 445 shares during the last quarter. Smartleaf Asset Management LLC grew its position in shares of 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 purchasing an additional 1,229 shares during the last quarter. GAMMA Investing LLC increased its stake 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 worth $69,000 after purchasing an additional 1,201 shares during the period. Finally, Quadrant Capital Group LLC lifted its holdings in Simply Good Foods by 13.5% during the 4th 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 last quarter. 88.45% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

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

Simply Good Foods Trading Down 0.5 %

NASDAQ:SMPL traded down $0.19 during trading hours on Friday, hitting $35.23. 645,464 shares of the company were exchanged, compared to its average volume of 921,253. The Simply Good Foods Company has a one year low of $31.25 and a one year high of $40.53. The company has a current ratio of 4.23, a quick ratio of 2.75 and a debt-to-equity ratio of 0.20. The stock has a market capitalization of $3.56 billion, a price-to-earnings ratio of 24.99, a price-to-earnings-growth ratio of 3.23 and a beta of 0.63. The company has a fifty day simple moving average of $35.58 and a 200 day simple moving average of $36.45.

Simply Good Foods (NASDAQ:SMPL - Get Free Report) last released its quarterly earnings results on Wednesday, April 9th. The financial services provider reported $0.46 earnings per share (EPS) for the quarter, topping the consensus estimate 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 quarter last year, the business earned $0.40 EPS. The company's revenue was up 15.2% compared to the same quarter last year. Sell-side analysts expect that The Simply Good Foods Company will post 1.78 EPS for the current fiscal year.

Insider Activity

In related news, SVP Stuart E. Jr. Heflin sold 5,000 shares of the business's stock in a transaction on Friday, April 11th. The shares were 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 in the company, valued at $478,252.75. The trade was a 28.03 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 9.35% of the stock is owned by company insiders.

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.