Madison Investment Advisors LLC Buys New Position in The Simply Good Foods Company (NASDAQ:SMPL)

Madison Investment Advisors LLC acquired a new position in The Simply Good Foods Company (NASDAQ:SMPL - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 184,809 shares of the financial services provider's stock, valued at approximately $7,204,000. Madison Investment Advisors LLC owned approximately 0.18% of Simply Good Foods as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in SMPL. Swiss National Bank grew its position in Simply Good Foods by 0.7% in the fourth quarter. Swiss National Bank now owns 187,100 shares of the financial services provider's stock valued at $7,293,000 after acquiring an additional 1,300 shares in the last quarter. Wealthfront Advisers LLC bought a new stake in shares of Simply Good Foods in the 4th quarter worth about $7,884,000. Amundi raised its stake in shares of Simply Good Foods by 152.4% in the 4th quarter. Amundi now owns 54,198 shares of the financial services provider's stock valued at $1,942,000 after purchasing an additional 32,721 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of Simply Good Foods during the fourth quarter worth about $1,863,000. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Simply Good Foods by 4.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,033,884 shares of the financial services provider's stock worth $40,301,000 after buying an additional 43,874 shares during the last quarter. Hedge funds and other institutional investors own 88.45% of the company's stock.

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Wall Street Analysts Forecast Growth

Separately, Mizuho decreased their price objective on shares of Simply Good Foods from $48.00 to $45.00 and set an "outperform" rating for the company in a report on Friday, January 10th. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, Simply Good Foods has an average rating of "Moderate Buy" and a consensus target price of $40.22.

Simply Good Foods Stock Performance

NASDAQ:SMPL traded down $1.14 during mid-day trading on Tuesday, hitting $33.31. The stock had a trading volume of 869,715 shares, compared to its average volume of 903,176. The company has a 50 day simple moving average of $36.53 and a 200-day simple moving average of $36.21. The stock has a market capitalization of $3.37 billion, a price-to-earnings ratio of 23.62, a P/E/G ratio of 3.23 and a beta of 0.65. 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 Simply Good Foods Company has a 52 week low of $30.00 and a 52 week high of $40.53.

Simply Good Foods (NASDAQ:SMPL - Get Free Report) last announced its quarterly earnings results on Wednesday, January 8th. The financial services provider reported $0.49 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.43 by $0.06. The company had revenue of $341.30 million during the quarter, compared to analyst estimates of $347.32 million. Simply Good Foods had a return on equity of 10.25% and a net margin of 10.40%. The firm's quarterly revenue was up 10.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.43 EPS. On average, research analysts expect that The Simply Good Foods Company will post 1.78 earnings per share for the current fiscal year.

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.