Raymond James & Associates reduced its position in shares of The Simply Good Foods Company (NASDAQ:SMPL – Get Rating) by 24.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 46,193 shares of the financial services provider’s stock after selling 14,669 shares during the quarter. Raymond James & Associates’ holdings in Simply Good Foods were worth $1,478,000 as of its most recent SEC filing.
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Other hedge funds have also modified their holdings of the company. Capital World Investors raised its position in shares of Simply Good Foods by 8.4% during the 1st quarter. Capital World Investors now owns 5,770,500 shares of the financial services provider’s stock worth $218,990,000 after purchasing an additional 446,000 shares during the last quarter. Driehaus Capital Management LLC acquired a new position in shares of Simply Good Foods during the 2nd quarter worth about $16,321,000. Goldman Sachs Group Inc. raised its position in shares of Simply Good Foods by 34.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,419,377 shares of the financial services provider’s stock worth $53,865,000 after purchasing an additional 366,308 shares during the last quarter. Principal Financial Group Inc. raised its position in shares of Simply Good Foods by 26.6% during the 2nd quarter. Principal Financial Group Inc. now owns 1,301,039 shares of the financial services provider’s stock worth $49,140,000 after purchasing an additional 273,550 shares during the last quarter. Finally, Macquarie Group Ltd. raised its holdings in Simply Good Foods by 11,895.9% in the 2nd quarter. Macquarie Group Ltd. now owns 269,428 shares of the financial services provider’s stock valued at $10,176,000 after acquiring an additional 267,182 shares during the last quarter. 84.76% of the stock is owned by hedge funds and other institutional investors.
Simply Good Foods Stock Performance
NASDAQ:SMPL opened at $35.87 on Thursday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.88 and a current ratio of 4.42. The stock has a market capitalization of $3.57 billion, a P/E ratio of 29.40 and a beta of 0.79. The company has a 50 day moving average price of $37.42 and a 200 day moving average price of $34.89. The Simply Good Foods Company has a fifty-two week low of $29.21 and a fifty-two week high of $45.77.
Wall Street Analysts Weigh In
A number of research firms have commented on SMPL. Morgan Stanley cut their price objective on shares of Simply Good Foods from $35.00 to $34.00 and set an “equal weight” rating for the company in a report on Friday, January 6th. Stephens cut their price objective on shares of Simply Good Foods from $45.00 to $40.00 and set an “overweight” rating for the company in a report on Wednesday, October 12th. Cowen began coverage on shares of Simply Good Foods in a report on Wednesday, December 14th. They issued a “market perform” rating and a $42.00 price objective for the company. UBS Group cut their price objective on shares of Simply Good Foods from $45.00 to $42.00 and set a “buy” rating for the company in a report on Friday, January 6th. Finally, Needham & Company LLC initiated coverage on shares of Simply Good Foods in a report on Tuesday, December 13th. They issued a “buy” rating and a $42.00 price objective for the company. Three equities research analysts have rated the stock with a hold rating and ten have given the stock a buy rating. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $42.00.
Simply Good Foods Profile
The Simply Good Foods Co is a consumer packaged food and beverage company, which engages in the development, marketing, and sale of nutritional food and snacking products. Its products include nutrition bars, ready-to-drink shakes, snacks, confectionery, and frozen meals under the Atkins and Quest brands.
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