Lombard Odier Asset Management USA Corp Increases Position in The Simply Good Foods Company (NASDAQ:SMPL)

Lombard Odier Asset Management USA Corp grew its stake in The Simply Good Foods Company (NASDAQ:SMPL) by 57.9% during the second quarter, HoldingsChannel reports. The fund owned 46,562 shares of the financial services provider’s stock after acquiring an additional 17,079 shares during the quarter. Lombard Odier Asset Management USA Corp’s holdings in Simply Good Foods were worth $1,682,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. increased its holdings in shares of Simply Good Foods by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 11,099,351 shares of the financial services provider’s stock valued at $377,711,000 after acquiring an additional 174,157 shares during the period. Champlain Investment Partners LLC grew its stake in Simply Good Foods by 27.7% during the 1st quarter. Champlain Investment Partners LLC now owns 3,939,494 shares of the financial services provider’s stock worth $134,061,000 after buying an additional 854,550 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in Simply Good Foods by 6.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,223,666 shares of the financial services provider’s stock worth $116,468,000 after buying an additional 203,914 shares during the last quarter. Principal Financial Group Inc. grew its stake in Simply Good Foods by 14.3% during the 2nd quarter. Principal Financial Group Inc. now owns 1,474,736 shares of the financial services provider’s stock worth $53,282,000 after buying an additional 184,539 shares during the last quarter. Finally, Congress Asset Management Co. MA grew its stake in Simply Good Foods by 7.4% during the 1st quarter. Congress Asset Management Co. MA now owns 1,313,011 shares of the financial services provider’s stock worth $44,682,000 after buying an additional 90,154 shares during the last quarter. 88.45% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, SVP Stuart E. Jr. Heflin sold 1,058 shares of the company’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $34.44, for a total value of $36,437.52. Following the completion of the transaction, the senior vice president now owns 19,319 shares of the company’s stock, valued at approximately $665,346.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 10.98% of the stock is currently owned by insiders.

Simply Good Foods Stock Performance

Shares of SMPL stock opened at $33.89 on Monday. The stock has a market cap of $3.39 billion, a PE ratio of 23.37, a price-to-earnings-growth ratio of 2.25 and a beta of 0.62. The Simply Good Foods Company has a 52-week low of $30.00 and a 52-week high of $43.00. The company has a quick ratio of 4.05, a current ratio of 5.19 and a debt-to-equity ratio of 0.14. The business has a 50-day simple moving average of $33.38 and a 200-day simple moving average of $34.71.

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

Wall Street Analyst Weigh In

Several research analysts recently weighed in on SMPL shares. Needham & Company LLC restated a “buy” rating and set a $41.00 target price on shares of Simply Good Foods in a research note on Friday, June 28th. Stifel Nicolaus lifted their price target on Simply Good Foods from $38.00 to $40.00 and gave the stock a “buy” rating in a research report on Friday, June 14th. DA Davidson lifted their price target on Simply Good Foods from $35.00 to $38.00 and gave the stock a “neutral” rating in a research report on Monday, July 1st. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on Simply Good Foods from $36.00 to $37.00 and gave the stock a “hold” rating in a research report on Friday, June 14th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $40.29.

About Simply Good Foods

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.