Covea Finance Lowers Stock Position in The Simply Good Foods Company $SMPL

Covea Finance cut its position in shares of The Simply Good Foods Company (NASDAQ:SMPL) by 45.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 134,000 shares of the financial services provider’s stock after selling 111,500 shares during the quarter. Covea Finance owned approximately 0.13% of Simply Good Foods worth $3,326,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in SMPL. CWM LLC boosted its stake in shares of Simply Good Foods by 343.0% in the 3rd quarter. CWM LLC now owns 2,605 shares of the financial services provider’s stock worth $65,000 after buying an additional 2,017 shares during the last quarter. Harbor Capital Advisors Inc. lifted its holdings in Simply Good Foods by 14,004.7% during the third quarter. Harbor Capital Advisors Inc. now owns 39,070 shares of the financial services provider’s stock worth $970,000 after acquiring an additional 38,793 shares during the period. Congress Asset Management Co. lifted its holdings in Simply Good Foods by 8.5% during the third quarter. Congress Asset Management Co. now owns 409,490 shares of the financial services provider’s stock worth $10,164,000 after acquiring an additional 32,178 shares during the period. Osaic Holdings Inc. boosted its position in Simply Good Foods by 12.7% in the second quarter. Osaic Holdings Inc. now owns 9,284 shares of the financial services provider’s stock worth $293,000 after purchasing an additional 1,048 shares during the last quarter. Finally, Squarepoint Ops LLC boosted its position in Simply Good Foods by 58.0% in the second quarter. Squarepoint Ops LLC now owns 71,093 shares of the financial services provider’s stock worth $2,246,000 after purchasing an additional 26,093 shares during the last quarter. 88.45% of the stock is owned by institutional investors.

Simply Good Foods Price Performance

Shares of NASDAQ:SMPL opened at $19.77 on Friday. The firm has a market capitalization of $1.88 billion, a PE ratio of 19.38, a P/E/G ratio of 4.96 and a beta of 0.37. The company has a quick ratio of 2.30, a current ratio of 3.64 and a debt-to-equity ratio of 0.14. The company has a 50-day moving average price of $20.00 and a two-hundred day moving average price of $26.14. The Simply Good Foods Company has a twelve month low of $18.45 and a twelve month high of $40.01.

Simply Good Foods (NASDAQ:SMPL) last posted its quarterly earnings results on Thursday, October 23rd. The financial services provider reported $0.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.48 by ($0.02). The business had revenue of $369.04 million during the quarter, compared to the consensus estimate of $369.07 million. Simply Good Foods had a net margin of 7.14% and a return on equity of 10.06%. The business’s revenue for the quarter was down 1.8% on a year-over-year basis. During the same period last year, the firm earned $0.50 EPS. Equities analysts forecast that The Simply Good Foods Company will post 1.78 EPS for the current year.

Insider Buying and Selling at Simply Good Foods

In related news, CAO Timothy Allen Matthews sold 5,859 shares of the business’s stock in a transaction on Tuesday, November 11th. The stock was sold at an average price of $19.47, for a total transaction of $114,074.73. Following the sale, the chief accounting officer directly owned 18,065 shares in the company, valued at approximately $351,725.55. The trade was a 24.49% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Christopher J. Bealer acquired 9,946 shares of the company’s stock in a transaction that occurred on Thursday, November 6th. The shares were bought at an average cost of $20.01 per share, for a total transaction of $199,019.46. Following the acquisition, the chief financial officer directly owned 32,966 shares in the company, valued at $659,649.66. This represents a 43.21% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders own 8.76% of the company’s stock.

Wall Street Analyst Weigh In

SMPL has been the subject of several research analyst reports. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $22.00 target price on shares of Simply Good Foods in a research report on Monday, December 15th. UBS Group reduced their price target on shares of Simply Good Foods from $27.00 to $23.00 and set a “neutral” rating for the company in a research report on Friday, October 24th. Jefferies Financial Group lowered their price objective on shares of Simply Good Foods from $32.00 to $27.00 and set a “hold” rating on the stock in a research report on Wednesday, October 22nd. Weiss Ratings reiterated a “sell (d)” rating on shares of Simply Good Foods in a research note on Monday. Finally, Mizuho reduced their target price on shares of Simply Good Foods from $43.00 to $35.00 and set an “outperform” rating for the company in a research report on Wednesday, November 12th. Four analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $30.22.

Simply Good Foods Profile

Simply Good Foods Co (NASDAQ: SMPL) is a North American consumer packaged foods company specializing in better-for-you nutrition products. The company’s portfolio centers on two well-established brands, Atkins and Quest, which offer a range of low-carbohydrate, high-protein bars, powders, shakes, and snacks. Simply Good Foods aims to support consumers’ health and wellness goals by delivering convenient, nutrient-dense options without added sugars or artificial sweeteners.

Under the Atkins brand, the company produces meal replacements, snack bars, and ready-to-drink shakes designed for low-carb dieters.