Bank of New York Mellon Corp Raises Stock Holdings in The Simply Good Foods Company (NASDAQ:SMPL)

Bank of New York Mellon Corp boosted its holdings in shares of The Simply Good Foods Company (NASDAQ:SMPL) by 2.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 745,167 shares of the financial services provider’s stock after purchasing an additional 19,696 shares during the quarter. Bank of New York Mellon Corp’s holdings in Simply Good Foods were worth $26,923,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of SMPL. Truist Financial Corp boosted its position in Simply Good Foods by 22.6% during the fourth quarter. Truist Financial Corp now owns 9,301 shares of the financial services provider’s stock worth $368,000 after purchasing an additional 1,715 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Simply Good Foods by 5.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 852,189 shares of the financial services provider’s stock valued at $33,747,000 after acquiring an additional 47,393 shares during the last quarter. Principal Securities Inc. acquired a new position in shares of Simply Good Foods during the fourth quarter valued at approximately $36,000. Van Hulzen Asset Management LLC acquired a new position in shares of Simply Good Foods during the fourth quarter valued at approximately $1,008,000. Finally, Teacher Retirement System of Texas raised its holdings in shares of Simply Good Foods by 1.7% during the fourth quarter. Teacher Retirement System of Texas now owns 20,007 shares of the financial services provider’s stock valued at $792,000 after acquiring an additional 326 shares during the last quarter. Hedge funds and other institutional investors own 88.45% of the company’s stock.

Simply Good Foods Price Performance

Simply Good Foods stock opened at $32.75 on Thursday. The company has a current ratio of 5.19, a quick ratio of 4.05 and a debt-to-equity ratio of 0.14. The stock has a market cap of $3.28 billion, a P/E ratio of 22.59, a PEG ratio of 2.24 and a beta of 0.62. The company has a 50-day moving average price of $33.97 and a 200 day moving average price of $34.83. The Simply Good Foods Company has a 12-month low of $30.00 and a 12-month high of $43.00.

Simply Good Foods (NASDAQ:SMPL) last announced its quarterly earnings results on Thursday, June 27th. The financial services provider reported $0.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.48 by $0.02. Simply Good Foods had a net margin of 11.49% and a return on equity of 10.28%. The business had revenue of $334.80 million during the quarter, compared to the consensus estimate of $337.66 million. During the same quarter last year, the firm earned $0.40 EPS. The business’s revenue was up 3.1% compared to the same quarter last year. Sell-side analysts anticipate that The Simply Good Foods Company will post 1.69 earnings per share for the current year.

Insider Buying and Selling at Simply Good Foods

In other news, SVP Stuart E. Jr. Heflin sold 1,058 shares of the stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $34.44, for a total transaction of $36,437.52. Following the completion of the transaction, the senior vice president now directly owns 19,319 shares in the company, valued at approximately $665,346.36. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 10.98% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on SMPL. 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 report on Friday, June 14th. Deutsche Bank Aktiengesellschaft increased their target price on Simply Good Foods from $36.00 to $37.00 and gave the company a “hold” rating in a report on Friday, June 14th. Needham & Company LLC reissued a “buy” rating and set a $41.00 target price on shares of Simply Good Foods in a report on Friday, June 28th. Finally, DA Davidson increased their target price on Simply Good Foods from $35.00 to $38.00 and gave the company a “neutral” rating in a report on Monday, July 1st. Three investment 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, the company has a consensus rating of “Moderate Buy” and a consensus target price of $40.29.

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.