Fmr LLC Purchases 855,070 Shares of The Simply Good Foods Company (NASDAQ:SMPL)

FMR LLC grew its position in The Simply Good Foods Company (NASDAQ:SMPL - Free Report) by 20.0% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 5,128,827 shares of the financial services provider's stock after buying an additional 855,070 shares during the period. FMR LLC owned approximately 5.12% of Simply Good Foods worth $178,329,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Massachusetts Financial Services Co. MA purchased a new position in Simply Good Foods in the third quarter worth about $27,391,000. Mutual of America Capital Management LLC raised its holdings in shares of Simply Good Foods by 21.0% during the third quarter. Mutual of America Capital Management LLC now owns 187,549 shares of the financial services provider's stock valued at $6,521,000 after purchasing an additional 32,561 shares during the last quarter. SG Americas Securities LLC raised its holdings in shares of Simply Good Foods by 671.9% during the second quarter. SG Americas Securities LLC now owns 30,697 shares of the financial services provider's stock valued at $1,109,000 after purchasing an additional 26,720 shares during the last quarter. Quest Partners LLC raised its holdings in shares of Simply Good Foods by 65.0% during the third quarter. Quest Partners LLC now owns 41,277 shares of the financial services provider's stock valued at $1,435,000 after purchasing an additional 16,268 shares during the last quarter. Finally, Victory Capital Management Inc. raised its holdings in shares of Simply Good Foods by 13.5% during the third quarter. Victory Capital Management Inc. now owns 1,045,457 shares of the financial services provider's stock valued at $36,351,000 after purchasing an additional 124,655 shares during the last quarter. 88.45% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Simply Good Foods

In related news, insider Timothy Richard Kraft sold 21,209 shares of the company's stock in a transaction on Monday, November 11th. The shares were sold at an average price of $36.50, for a total transaction of $774,128.50. Following the sale, the insider now owns 40,068 shares of the company's stock, valued at $1,462,482. This represents a 34.61 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Brian K. Ratzan sold 50,000 shares of the stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $37.38, for a total transaction of $1,869,000.00. Following the completion of the sale, the director now directly owns 2,049,387 shares in the company, valued at approximately $76,606,086.06. This represents a 2.38 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 327,869 shares of company stock valued at $12,139,570 over the last 90 days. 10.98% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on SMPL. Citigroup decreased their price objective on shares of Simply Good Foods from $46.00 to $43.00 and set a "buy" rating for the company in a report on Thursday, November 14th. Stephens cut their target price on shares of 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. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $40.78.

Simply Good Foods Stock Performance

Shares of NASDAQ:SMPL remained flat at $39.81 during midday trading on Tuesday. 104,800 shares of the company were exchanged, compared to its average volume of 888,613. The company has a current ratio of 4.05, a quick ratio of 2.75 and a debt-to-equity ratio of 0.23. The company's 50 day moving average is $35.46 and its two-hundred day moving average is $35.09. The Simply Good Foods Company has a 12-month low of $30.00 and a 12-month high of $43.00. The firm has a market capitalization of $3.99 billion, a PE ratio of 28.84, a PEG ratio of 3.52 and a beta of 0.67.

Simply Good Foods (NASDAQ:SMPL - Get Free Report) last issued its earnings results on Thursday, October 24th. The financial services provider reported $0.50 earnings per share for the quarter, hitting analysts' consensus estimates of $0.50. The firm had revenue of $375.70 million during the quarter, compared to analyst estimates of $373.07 million. Simply Good Foods had a net margin of 10.46% and a return on equity of 10.23%. Simply Good Foods's revenue for the quarter was up 17.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.41 earnings per share. As a group, sell-side analysts expect that The Simply Good Foods Company will post 1.76 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.