Nordea Investment Management AB Makes New Investment in The Simply Good Foods Company (NASDAQ:SMPL)

Nordea Investment Management AB bought a new stake in shares of The Simply Good Foods Company (NASDAQ:SMPL - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 111,931 shares of the financial services provider's stock, valued at approximately $3,821,000. Nordea Investment Management AB owned 0.11% of Simply Good Foods at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in SMPL. Norges Bank purchased a new stake in Simply Good Foods in the 4th quarter valued at about $39,991,000. Boston Partners bought a new stake in Simply Good Foods during the 4th quarter valued at $20,242,000. Principal Financial Group Inc. lifted its holdings in shares of Simply Good Foods by 17.1% in the 4th quarter. Principal Financial Group Inc. now owns 1,930,744 shares of the financial services provider's stock worth $76,457,000 after buying an additional 281,603 shares during the period. Vanguard Group Inc. grew its position in shares of Simply Good Foods by 2.4% during the 3rd quarter. Vanguard Group Inc. now owns 10,992,510 shares of the financial services provider's stock worth $379,461,000 after buying an additional 259,144 shares in the last quarter. Finally, Assenagon Asset Management S.A. grew its position in shares of Simply Good Foods by 248.8% during the 1st quarter. Assenagon Asset Management S.A. now owns 333,760 shares of the financial services provider's stock worth $11,358,000 after buying an additional 238,064 shares in the last quarter. 88.45% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Simply Good Foods news, Director James D. White sold 4,000 shares of the firm's stock in a transaction on Friday, May 10th. The shares were sold at an average price of $38.17, for a total value of $152,680.00. Following the completion of the transaction, the director now owns 17,027 shares of the company's stock, valued at $649,920.59. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 10.98% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on SMPL shares. TD Cowen assumed coverage on shares of Simply Good Foods in a research report on Monday, April 22nd. They issued a "hold" rating and a $34.00 price target for the company. DA Davidson lifted their target price on Simply Good Foods from $35.00 to $38.00 and gave the company a "neutral" rating in a research note on Monday, July 1st. Needham & Company LLC reissued a "buy" rating and set a $41.00 price target on shares of Simply Good Foods in a research report on Friday, June 28th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Simply Good Foods from $36.00 to $37.00 and gave the stock a "hold" rating in a research report on Friday, June 14th. Finally, Morgan Stanley restated an "overweight" rating and issued a $42.00 target price on shares of Simply Good Foods in a research note on Thursday, April 11th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, Simply Good Foods currently has an average rating of "Moderate Buy" and a consensus target price of $40.29.

Simply Good Foods Stock Performance

Simply Good Foods stock traded up $0.35 during mid-day trading on Wednesday, reaching $36.19. 695,280 shares of the company traded hands, compared to its average volume of 865,896. The firm's fifty day moving average is $36.91 and its two-hundred day moving average is $36.44. The company has a market capitalization of $3.62 billion, a price-to-earnings ratio of 24.96, a price-to-earnings-growth ratio of 2.55 and a beta of 0.61. The Simply Good Foods Company has a fifty-two week low of $30.00 and a fifty-two week high of $43.00. The company has a debt-to-equity ratio of 0.14, a current ratio of 5.19 and a quick ratio of 4.05.

Simply Good Foods (NASDAQ:SMPL - Get Free Report) last posted its quarterly earnings results on Thursday, June 27th. The financial services provider reported $0.50 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.48 by $0.02. The business had revenue of $334.80 million during the quarter, compared to analysts' expectations of $337.66 million. Simply Good Foods had a net margin of 11.49% and a return on equity of 10.28%. The business's quarterly revenue was up 3.1% on a year-over-year basis. During the same quarter last year, the company posted $0.40 earnings per share. On average, equities research analysts expect that The Simply Good Foods Company will post 1.69 earnings per share for the current fiscal year.

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.