The Simply Good Foods Company $SMPL Shares Sold by AMI Asset Management Corp

AMI Asset Management Corp cut its holdings in The Simply Good Foods Company (NASDAQ:SMPL) by 45.0% during the 2nd quarter, Holdings Channel reports. The firm owned 21,397 shares of the financial services provider’s stock after selling 17,509 shares during the period. AMI Asset Management Corp’s holdings in Simply Good Foods were worth $676,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in shares of Simply Good Foods in the first quarter valued at approximately $54,000. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Simply Good Foods in the first quarter valued at approximately $55,000. Quarry LP grew its position in shares of Simply Good Foods by 59.7% in the first quarter. Quarry LP now owns 2,009 shares of the financial services provider’s stock valued at $69,000 after purchasing an additional 751 shares during the last quarter. Russell Investments Group Ltd. grew its position in shares of Simply Good Foods by 2,055.7% in the first quarter. Russell Investments Group Ltd. now owns 3,018 shares of the financial services provider’s stock valued at $104,000 after purchasing an additional 2,878 shares during the last quarter. Finally, Banque Cantonale Vaudoise acquired a new stake in shares of Simply Good Foods in the first quarter valued at approximately $105,000. 88.45% of the stock is currently owned by institutional investors and hedge funds.

Simply Good Foods Stock Performance

NASDAQ:SMPL opened at $24.82 on Thursday. The company has a quick ratio of 2.46, a current ratio of 3.95 and a debt-to-equity ratio of 0.14. The company has a market cap of $2.50 billion, a P/E ratio of 17.36, a P/E/G ratio of 2.63 and a beta of 0.53. The Simply Good Foods Company has a fifty-two week low of $24.30 and a fifty-two week high of $40.53. The firm’s 50 day moving average is $28.42 and its two-hundred day moving average is $32.25.

Simply Good Foods (NASDAQ:SMPL) last posted its quarterly earnings results on Thursday, July 10th. The financial services provider reported $0.51 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.51. The company had revenue of $380.96 million for the quarter, compared to the consensus estimate of $381.68 million. Simply Good Foods had a net margin of 9.97% and a return on equity of 10.29%. Simply Good Foods’s revenue was up 13.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.50 earnings per share. Analysts expect that The Simply Good Foods Company will post 1.78 EPS for the current year.

Analyst Ratings Changes

Several analysts have recently commented on the stock. UBS Group set a $36.00 price target on shares of Simply Good Foods and gave the company a “neutral” rating in a research report on Tuesday, July 1st. Wall Street Zen lowered shares of Simply Good Foods from a “buy” rating to a “hold” rating in a research report on Saturday, June 21st. Citigroup decreased their target price on shares of Simply Good Foods from $43.00 to $40.00 and set a “buy” rating on the stock in a research report on Wednesday, June 18th. DA Davidson decreased their target price on shares of Simply Good Foods from $42.00 to $38.00 and set a “neutral” rating on the stock in a research report on Monday, June 9th. Finally, Sanford C. Bernstein set a $45.00 target price on shares of Simply Good Foods and gave the stock an “outperform” rating in a research report on Friday, July 11th. Five investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, Simply Good Foods presently has an average rating of “Moderate Buy” and a consensus price target of $39.88.

Insiders Place Their Bets

In related news, CEO Geoff E. Tanner purchased 6,050 shares of the business’s stock in a transaction on Wednesday, July 23rd. The shares were bought at an average price of $33.11 per share, with a total value of $200,315.50. Following the completion of the purchase, the chief executive officer directly owned 98,190 shares in the company, valued at approximately $3,251,070.90. This trade represents a 6.57% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. 9.35% of the stock is currently owned by corporate insiders.

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.