Citigroup Inc. Acquires 46,126 Shares of The Simply Good Foods Company (NASDAQ:SMPL)

Citigroup Inc. increased its stake in shares of The Simply Good Foods Company (NASDAQ:SMPL - Free Report) by 60.1% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 122,849 shares of the financial services provider's stock after acquiring an additional 46,126 shares during the period. Citigroup Inc. owned 0.12% of Simply Good Foods worth $4,271,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Quarry LP acquired a new stake in Simply Good Foods in the 2nd quarter valued at approximately $30,000. GAMMA Investing LLC lifted its position in shares of Simply Good Foods by 182.4% in the 2nd quarter. GAMMA Investing LLC now owns 850 shares of the financial services provider's stock worth $31,000 after acquiring an additional 549 shares during the period. EverSource Wealth Advisors LLC lifted its position in shares of Simply Good Foods by 236.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,766 shares of the financial services provider's stock worth $60,000 after acquiring an additional 1,241 shares during the period. Innealta Capital LLC bought a new stake in shares of Simply Good Foods in the 2nd quarter worth approximately $71,000. Finally, 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 acquiring an additional 746 shares during the period. Institutional investors and hedge funds own 88.45% of the company's stock.

Simply Good Foods Price Performance

Shares of Simply Good Foods stock traded down $0.25 during midday trading on Wednesday, hitting $39.45. 748,224 shares of the company were exchanged, compared to its average volume of 890,138. The firm has a 50 day simple moving average of $35.56 and a 200-day simple moving average of $35.11. The company has a debt-to-equity ratio of 0.23, a current ratio of 4.05 and a quick ratio of 2.75. The Simply Good Foods Company has a 52 week low of $30.00 and a 52 week high of $43.00. The firm has a market cap of $3.95 billion, a P/E ratio of 28.59, a PEG ratio of 3.52 and a beta of 0.67.

Simply Good Foods (NASDAQ:SMPL - Get Free Report) last issued its quarterly earnings data on Thursday, October 24th. The financial services provider reported $0.50 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.50. Simply Good Foods had a return on equity of 10.23% and a net margin of 10.46%. The firm had revenue of $375.70 million during the quarter, compared to the consensus estimate of $373.07 million. During the same quarter in the previous year, the company posted $0.41 EPS. The business's revenue for the quarter was up 17.3% compared to the same quarter last year. Research analysts forecast that The Simply Good Foods Company will post 1.76 earnings per share for the current year.

Insider Buying and Selling at Simply Good Foods

In other news, Director Joseph Scalzo sold 25,000 shares of Simply Good Foods stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $35.99, for a total value of $899,750.00. Following the completion of the sale, the director now directly owns 139,204 shares of the company's stock, valued at approximately $5,009,951.96. This trade represents a 15.22 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Timothy Allen Matthews sold 5,325 shares of Simply Good Foods stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $37.31, for a total value of $198,675.75. Following the completion of the sale, the chief accounting officer now directly owns 17,063 shares of the company's stock, valued at $636,620.53. This trade represents a 23.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 327,869 shares of company stock worth $12,139,570. 10.98% of the stock is currently owned by insiders.

Analysts Set New Price Targets

SMPL has been the subject of a number of research reports. Stephens reduced their price objective on Simply Good Foods from $44.00 to $42.00 and set an "overweight" rating for the company in a research report on Wednesday, October 23rd. Citigroup reduced their price objective on Simply Good Foods from $46.00 to $43.00 and set a "buy" rating for the company in a research report on Thursday, November 14th. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $40.78.

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.