Fifth Third Bancorp Has $1.65 Million Stock Position in The Simply Good Foods Company $SMPL

Fifth Third Bancorp raised its holdings in The Simply Good Foods Company (NASDAQ:SMPL) by 9,700.3% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 114,859 shares of the financial services provider’s stock after purchasing an additional 113,687 shares during the quarter. Fifth Third Bancorp’s holdings in Simply Good Foods were worth $1,648,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently made changes to their positions in SMPL. River Road Asset Management LLC acquired a new stake in shares of Simply Good Foods during the 4th quarter worth about $31,857,000. Marshall Wace LLP bought a new position in shares of Simply Good Foods during the third quarter worth approximately $31,825,000. Millennium Management LLC boosted its stake in Simply Good Foods by 482.7% in the 3rd quarter. Millennium Management LLC now owns 1,246,236 shares of the financial services provider’s stock valued at $30,932,000 after purchasing an additional 1,032,358 shares during the period. Voloridge Investment Management LLC grew its holdings in Simply Good Foods by 781.1% in the 3rd quarter. Voloridge Investment Management LLC now owns 902,397 shares of the financial services provider’s stock valued at $22,397,000 after buying an additional 799,983 shares in the last quarter. Finally, Qube Research & Technologies Ltd increased its position in Simply Good Foods by 119.5% during the 3rd quarter. Qube Research & Technologies Ltd now owns 1,313,726 shares of the financial services provider’s stock worth $32,607,000 after buying an additional 715,110 shares during the period. 88.45% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Clayton C. Daley, Jr. purchased 10,000 shares of the company’s stock in a transaction dated Thursday, May 14th. The stock was bought at an average cost of $11.78 per share, for a total transaction of $117,800.00. Following the purchase, the director owned 111,743 shares of the company’s stock, valued at approximately $1,316,332.54. The trade was a 9.83% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 8.76% of the company’s stock.

Simply Good Foods Price Performance

Simply Good Foods stock opened at $10.28 on Friday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 3.10 and a current ratio of 4.80. The Simply Good Foods Company has a 52 week low of $10.12 and a 52 week high of $33.44. The stock has a market capitalization of $909.37 million, a P/E ratio of -4.74 and a beta of 0.13. The stock has a fifty day moving average of $12.17 and a 200-day moving average of $14.48.

Simply Good Foods (NASDAQ:SMPL) last issued its earnings results on Thursday, July 9th. The financial services provider reported $0.42 EPS for the quarter, topping the consensus estimate of $0.35 by $0.07. The firm had revenue of $356.98 million during the quarter, compared to the consensus estimate of $332.99 million. Simply Good Foods had a positive return on equity of 9.34% and a negative net margin of 14.28%.The business’s quarterly revenue was down 6.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.51 earnings per share. On average, sell-side analysts expect that The Simply Good Foods Company will post 1.54 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on SMPL shares. Stephens reaffirmed an “equal weight” rating and set a $14.00 price target (down from $24.00) on shares of Simply Good Foods in a research report on Friday, April 10th. Jefferies Financial Group set a $17.00 price target on shares of Simply Good Foods in a research report on Tuesday, June 30th. UBS Group set a $15.00 price objective on Simply Good Foods in a report on Friday, July 10th. TD Cowen reissued a “hold” rating on shares of Simply Good Foods in a report on Friday, July 10th. Finally, Morgan Stanley decreased their price target on Simply Good Foods from $24.00 to $14.00 and set an “equal weight” rating on the stock in a research report on Friday, April 10th. Three investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $15.20.

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.