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Raymond James & Associates Lowers Stake in The Simply Good Foods Company (NASDAQ:SMPL)

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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

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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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Institutional Ownership by Quarter for Simply Good Foods (NASDAQ:SMPL)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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