Wellington Management Group LLP Acquires New Position in The Simply Good Foods Company (NASDAQ:SMPL)

Wellington Management Group LLP bought a new position in The Simply Good Foods Company (NASDAQ:SMPL) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 123,194 shares of the financial services provider’s stock, valued at approximately $4,878,000.

A number of other institutional investors have also modified their holdings of the stock. Congress Asset Management Co. MA grew its stake in Simply Good Foods by 9.5% in the fourth quarter. Congress Asset Management Co. MA now owns 1,222,857 shares of the financial services provider’s stock worth $48,425,000 after purchasing an additional 105,912 shares in the last quarter. Gabelli Funds LLC bought a new position in shares of Simply Good Foods during the 4th quarter worth $396,000. TFO Wealth Partners LLC increased its stake in shares of Simply Good Foods by 59,100.0% during the fourth quarter. TFO Wealth Partners LLC now owns 1,184 shares of the financial services provider’s stock valued at $47,000 after buying an additional 1,182 shares during the period. Congress Wealth Management LLC DE increased its stake in shares of Simply Good Foods by 5.7% during the fourth quarter. Congress Wealth Management LLC DE now owns 188,478 shares of the financial services provider’s stock valued at $7,464,000 after buying an additional 10,174 shares during the period. Finally, Renaissance Group LLC raised its holdings in shares of Simply Good Foods by 6.1% in the fourth quarter. Renaissance Group LLC now owns 48,881 shares of the financial services provider’s stock valued at $1,935,000 after acquiring an additional 2,829 shares in the last quarter. 88.45% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. Deutsche Bank Aktiengesellschaft increased their target price on shares of Simply Good Foods from $36.00 to $37.00 and gave the stock a “hold” rating in a report on Friday, June 14th. Mizuho reiterated a “buy” rating and set a $50.00 price objective on shares of Simply Good Foods in a research note on Friday, April 5th. Needham & Company LLC reissued a “buy” rating and issued a $41.00 price objective on shares of Simply Good Foods in a research note on Friday. Stifel Nicolaus increased their target price on Simply Good Foods from $38.00 to $40.00 and gave the company a “buy” rating in a research report on Friday, June 14th. Finally, DA Davidson lifted their price target on Simply Good Foods from $34.00 to $35.00 and gave the company a “neutral” rating in a report on Tuesday, April 30th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, Simply Good Foods currently has an average rating of “Moderate Buy” and a consensus target price of $39.86.

Simply Good Foods Price Performance

Shares of SMPL opened at $36.13 on Friday. The company has a 50 day moving average of $36.71 and a two-hundred day moving average of $36.64. The company has a market cap of $3.61 billion, a price-to-earnings ratio of 24.92, a price-to-earnings-growth ratio of 2.10 and a beta of 0.65. The company has a quick ratio of 3.09, a current ratio of 5.19 and a debt-to-equity ratio of 0.14. The Simply Good Foods Company has a twelve month low of $30.00 and a twelve month high of $43.00.

Simply Good Foods (NASDAQ:SMPL) last posted its quarterly earnings data on Thursday, April 4th. The financial services provider reported $0.36 earnings per share for the quarter, topping analysts’ consensus estimates of $0.35 by $0.01. Simply Good Foods had a return on equity of 10.28% and a net margin of 11.49%. The firm had revenue of $312.20 million during the quarter, compared to analysts’ expectations of $313.57 million. As a group, analysts predict that The Simply Good Foods Company will post 1.7 earnings per share for the current fiscal year.

Insider Transactions at Simply Good Foods

In related news, Director James D. White sold 4,000 shares of the stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $38.17, for a total value of $152,680.00. Following the completion of the transaction, the director now directly owns 17,027 shares of the company’s stock, valued at approximately $649,920.59. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 10.98% of the company’s stock.

Simply Good Foods Company Profile

The Simply Good Foods Company operates as a consumer-packaged food and beverage company in North America and internationally. The company develops, markets, and sells snacks and meal replacements. It offers protein bars, ready-to-drink shakes, sweet and salty snacks, cookies, protein chips, and recipes under the Atkins and Quest brand names.