Assenagon Asset Management S.A. Decreases Stock Holdings in The Simply Good Foods Company $SMPL

Assenagon Asset Management S.A. trimmed its holdings in shares of The Simply Good Foods Company (NASDAQ:SMPL) by 18.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 405,311 shares of the financial services provider’s stock after selling 91,202 shares during the period. Assenagon Asset Management S.A.’s holdings in Simply Good Foods were worth $5,816,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. EverSource Wealth Advisors LLC raised its position in Simply Good Foods by 125.4% in the second quarter. EverSource Wealth Advisors LLC now owns 967 shares of the financial services provider’s stock worth $31,000 after acquiring an additional 538 shares during the period. Hantz Financial Services Inc. grew its position in shares of Simply Good Foods by 82.3% during the 4th quarter. Hantz Financial Services Inc. now owns 1,787 shares of the financial services provider’s stock valued at $36,000 after acquiring an additional 807 shares during the period. Johnson Financial Group Inc. purchased a new stake in shares of Simply Good Foods during the 3rd quarter worth approximately $36,000. Parallel Advisors LLC raised its holdings in shares of Simply Good Foods by 167.4% in the 4th quarter. Parallel Advisors LLC now owns 2,126 shares of the financial services provider’s stock worth $43,000 after purchasing an additional 1,331 shares during the period. Finally, Empowered Funds LLC bought a new stake in shares of Simply Good Foods in the 4th quarter worth approximately $59,000. 88.45% of the stock is currently owned by institutional investors.

Simply Good Foods Stock Up 0.6%

Shares of NASDAQ SMPL opened at $13.14 on Tuesday. The stock has a market capitalization of $1.19 billion, a P/E ratio of -11.04 and a beta of 0.17. The firm’s 50 day simple moving average is $12.22 and its two-hundred day simple moving average is $15.39. The Simply Good Foods Company has a one year low of $10.21 and a one year high of $34.19. The company has a debt-to-equity ratio of 0.27, a current ratio of 5.06 and a quick ratio of 2.87.

Simply Good Foods (NASDAQ:SMPL) last issued its earnings results on Thursday, April 9th. The financial services provider reported $0.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.40 by $0.05. Simply Good Foods had a negative net margin of 7.46% and a positive return on equity of 9.72%. The firm had revenue of $326.01 million for the quarter, compared to analysts’ expectations of $345.08 million. During the same quarter last year, the business earned $0.46 earnings per share. The business’s revenue was down 9.4% on a year-over-year basis. As a group, analysts expect that The Simply Good Foods Company will post 1.54 EPS for the current fiscal year.

Insider Transactions at Simply Good Foods

In other news, Director James M. Kilts acquired 80,000 shares of the business’s stock in a transaction on Thursday, April 23rd. The shares were acquired at an average cost of $12.39 per share, with a total value of $991,200.00. Following the transaction, the director owned 172,854 shares in the company, valued at $2,141,661.06. The trade was a 86.16% increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Clayton C. Daley, Jr. bought 10,000 shares of Simply Good Foods stock in a transaction dated Thursday, May 14th. The stock was acquired at an average cost of $11.78 per share, for a total transaction of $117,800.00. Following the completion of the transaction, the director directly owned 111,743 shares in the company, valued at approximately $1,316,332.54. This trade represents a 9.83% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders own 8.76% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on SMPL. Sanford C. Bernstein cut Simply Good Foods from an “outperform” rating to a “market perform” rating and dropped their price target for the company from $17.00 to $12.00 in a research report on Wednesday, June 3rd. DA Davidson restated a “neutral” rating and issued a $39.00 price objective on shares of Simply Good Foods in a research note on Friday, April 10th. UBS Group dropped their price objective on shares of Simply Good Foods from $13.00 to $12.00 and set a “neutral” rating on the stock in a report on Tuesday, June 2nd. Stephens reiterated an “equal weight” rating and set a $14.00 target price (down from $24.00) on shares of Simply Good Foods in a research report on Friday, April 10th. Finally, BTIG Research assumed coverage on shares of Simply Good Foods in a research note on Monday, April 13th. They issued a “neutral” rating for the company. Three analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Simply Good Foods presently has an average rating of “Hold” and an average price target of $17.80.

About Simply Good Foods

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.