Schwab Charles Investment Management Inc. increased its stake in Simply Good Foods Co (NASDAQ:SMPL) by 861.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 125,000 shares of the financial services provider’s stock after purchasing an additional 112,000 shares during the quarter. Schwab Charles Investment Management Inc. owned approximately 0.18% of Simply Good Foods worth $1,805,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Bank of Montreal Can purchased a new position in Simply Good Foods in the 2nd quarter worth about $124,000. Cubist Systematic Strategies LLC purchased a new position in Simply Good Foods in the 1st quarter worth about $143,000. WINTON GROUP Ltd purchased a new position in Simply Good Foods in the 1st quarter worth about $162,000. SG Americas Securities LLC purchased a new position in Simply Good Foods in the 2nd quarter worth about $179,000. Finally, Northern Trust Corp increased its stake in Simply Good Foods by 11.5% in the 1st quarter. Northern Trust Corp now owns 127,304 shares of the financial services provider’s stock worth $1,748,000 after purchasing an additional 13,110 shares in the last quarter. 91.84% of the stock is currently owned by hedge funds and other institutional investors.
Shares of SMPL opened at $17.53 on Friday. Simply Good Foods Co has a 1-year low of $11.01 and a 1-year high of $19.84. The company has a quick ratio of 5.01, a current ratio of 5.88 and a debt-to-equity ratio of 0.29.
Simply Good Foods (NASDAQ:SMPL) last released its earnings results on Tuesday, July 10th. The financial services provider reported $0.10 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.10. Simply Good Foods had a return on equity of 2.44% and a net margin of 10.02%. The company had revenue of $107.20 million for the quarter, compared to analysts’ expectations of $102.24 million. The business’s revenue for the quarter was up 11.1% on a year-over-year basis. On average, sell-side analysts anticipate that Simply Good Foods Co will post 0.56 earnings per share for the current fiscal year.
A number of equities analysts recently weighed in on SMPL shares. Zacks Investment Research cut Simply Good Foods from a “buy” rating to a “hold” rating in a research note on Tuesday, September 18th. SunTrust Banks lifted their price target on Simply Good Foods to $20.00 and gave the stock a “buy” rating in a research note on Wednesday, July 11th. Stifel Nicolaus lifted their price target on Simply Good Foods from $16.00 to $18.00 and gave the stock a “buy” rating in a research note on Wednesday, July 11th. Finally, Consumer Edge started coverage on Simply Good Foods in a research note on Monday, July 2nd. They issued an “outperform” rating on the stock. One analyst has rated the stock with a sell rating and five have assigned a buy rating to the company. Simply Good Foods presently has an average rating of “Buy” and a consensus target price of $17.60.
About Simply Good Foods
The Simply Good Foods Company develops, markets, and sells branded nutritional foods and snack products in North America and internationally. The company markets nutrition bars, ready-to-drink shakes, snacks, and confectionery products under the Atkins, SimplyProtein, Atkins Endulge, and Atkins Harvest Trail brand names.
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