JPMorgan Chase & Co. Cuts Stock Holdings in The Simply Good Foods Company (NASDAQ:SMPL)

JPMorgan Chase & Co. trimmed its position in shares of The Simply Good Foods Company (NASDAQ:SMPL - Free Report) by 24.6% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 287,598 shares of the financial services provider's stock after selling 93,961 shares during the period. JPMorgan Chase & Co. owned approximately 0.28% of Simply Good Foods worth $10,000,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of SMPL. Quarry LP purchased a new position in Simply Good Foods during the 2nd quarter valued at about $30,000. EverSource Wealth Advisors LLC boosted its stake in shares of Simply Good Foods by 236.4% in the second quarter. EverSource Wealth Advisors LLC now owns 1,766 shares of the financial services provider's stock valued at $60,000 after purchasing an additional 1,241 shares during the period. KBC Group NV grew its holdings in shares of Simply Good Foods by 31.9% in the third quarter. KBC Group NV now owns 3,084 shares of the financial services provider's stock valued at $107,000 after purchasing an additional 746 shares in the last quarter. Canada Pension Plan Investment Board purchased a new stake in Simply Good Foods during the 2nd quarter worth approximately $159,000. Finally, TD Private Client Wealth LLC lifted its holdings in Simply Good Foods by 70.2% during the 3rd quarter. TD Private Client Wealth LLC now owns 4,575 shares of the financial services provider's stock worth $159,000 after buying an additional 1,887 shares in the last quarter. 88.45% of the stock is currently owned by hedge funds and other institutional investors.

Simply Good Foods Stock Performance

Shares of SMPL opened at $34.47 on Monday. The company has a market capitalization of $3.48 billion, a price-to-earnings ratio of 24.98, a price-to-earnings-growth ratio of 3.51 and a beta of 0.67. The Simply Good Foods Company has a 52-week low of $30.00 and a 52-week high of $42.37. The company has a quick ratio of 2.75, a current ratio of 4.05 and a debt-to-equity ratio of 0.23. The stock has a 50 day moving average price of $38.26 and a 200 day moving average price of $35.41.

Simply Good Foods (NASDAQ:SMPL - Get Free Report) last issued its earnings results on Wednesday, January 8th. The financial services provider reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.06. Simply Good Foods had a net margin of 10.46% and a return on equity of 10.23%. The business had revenue of $341.30 million during the quarter, compared to analysts' expectations of $347.32 million. During the same quarter in the prior year, the business posted $0.43 EPS. The company's revenue for the quarter was up 10.6% on a year-over-year basis. Research analysts predict that The Simply Good Foods Company will post 1.77 EPS for the current fiscal year.

Insider Transactions at Simply Good Foods

In related news, CAO Timothy Allen Matthews sold 5,325 shares of the firm's stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $37.31, for a total transaction of $198,675.75. Following the transaction, the chief accounting officer now 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 transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Timothy Richard Kraft sold 76,761 shares of the business's stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $37.60, for a total value of $2,886,213.60. Following the completion of the transaction, the insider now owns 40,068 shares in the company, valued at $1,506,556.80. This trade represents a 65.70 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 327,869 shares of company stock worth $12,139,570. Corporate insiders own 9.35% of the company's stock.

Analyst Ratings Changes

Several research firms have commented on SMPL. Citigroup dropped their price target on shares of Simply Good Foods from $46.00 to $43.00 and set a "buy" rating for the company in a research note on Thursday, November 14th. Mizuho cut their price target on Simply Good Foods from $48.00 to $45.00 and set an "outperform" rating on the stock in a report on Friday. Finally, Stephens decreased their price objective on Simply Good Foods from $44.00 to $42.00 and set an "overweight" rating for the company in a research note on Wednesday, October 23rd. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $40.22.

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.