GAMMA Investing LLC Raises Stakes in Simply Good Foods (NASDAQ:SMPL)

GAMMA Investing LLC grew its position in shares of The Simply Good Foods Company (NASDAQ:SMPL – Free Report) by 182.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 850 shares of the financial services provider’s stock after buying an additional 549 shares during the period. GAMMA Investing LLC’s holdings in Simply Good Foods were worth $31,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of SMPL. Norges Bank acquired a new stake in shares of Simply Good Foods in the fourth quarter valued at $39,991,000. Champlain Investment Partners LLC boosted its stake in Simply Good Foods by 27.7% in the first quarter. Champlain Investment Partners LLC now owns 3,939,494 shares of the financial services provider’s stock valued at $134,061,000 after purchasing an additional 854,550 shares during the last quarter. Boston Partners purchased a new stake in shares of Simply Good Foods in the fourth quarter valued at $20,242,000. Principal Financial Group Inc. boosted its stake in Simply Good Foods by 17.1% in the fourth quarter. Principal Financial Group Inc. now owns 1,930,744 shares of the financial services provider’s stock valued at $76,457,000 after acquiring an additional 281,603 shares during the last quarter. Finally, Assenagon Asset Management SA raised its stake in Simply Good Foods by 248.8% in the first quarter. Assenagon Asset Management SA now owns 333,760 shares of the financial services provider’s stock worth $11,358,000 after purchasing an additional 238,064 shares in the last quarter. 88.45% of the shares are currently held by hedge funds and other institutional investors.

Insider buying and selling

In related news, SVP Stuart E. Jr. Heflin sold 1,058 shares of the business’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $34.44, for a total transaction of $36,437.52. Following the transaction, the senior vice president now owns 19,319 shares of the company’s stock, valued at $665,346.36. The transaction was disclosed in a filing with the SEC, which is accessible via this link. Corporate insiders own 10.98% of the company’s shares.

The Wall Street analyst weighs in

A number of research firms have weighed in on SMPL. Stifel Nicolaus boosted their price target on Simply Good Foods from $38.00 to $40.00 and gave the company a “buy” rating in a research note on Friday, June 14th. TD Cowen started coverage on Simply Good Foods in a research note on Monday, April 22nd. They issued a “hold” rating and a $34.00 target price on the stock. Deutsche Bank Aktiengesellschaft upped their target price on Simply Good Foods from $36.00 to $37.00 and gave the company a “hold” rating in a research note on Friday, June 14th. Needham & Company LLC reiterated a “buy” rating and set a $41.00 target price on shares of Simply Good Foods in a research report on Friday, June 28th. Finally, DA Davidson lifted their price target on Simply Good Foods from $35.00 to $38.00 and gave the stock a “neutral” rating in a research report on Monday, July 1st. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $40.29.

Check out our latest research report on SMPL

Simply Good Foods stock performance

NASDAQ SMPL opened at $32.57 on Monday. The company has a quick ratio of 4.05, a current ratio of 5.19, and a debt-to-equity ratio of 0.14. Simply Good Foods Company has a 52-week low of $30.00 and a 52-week high of $43.00. The company’s 50-day moving average price is $35.60 and its 200-day moving average price is $35.43. The firm has a market cap of $3.26 billion, a P/E ratio of 22.46, a P/E/G ratio of 2.28 and a beta of 0.61.

Simply Good Foods (NASDAQ:SMPL – Get Your Free Report ) last released 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. Simply Good Foods had a return on equity of 10.28% and a net margin of 11.49%. The firm had revenue of $334.80 million for the quarter, compared to analyst estimates of $337.66 million. In the same quarter last year, the company posted earnings of $0.40 per share. The company’s revenue rose 3.1% year over year. On average, equities research analysts expect that The Simply Good Foods Company will post 1.69 earnings per share for the current year.

About Simply Good Foods

(Free report)

Simply Good Foods 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 savory snacks, cookies, protein chips and recipes under the Atkins and Quest brands.

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