Envestnet Asset Management Inc. Sells 26,844 Shares of The Simply Good Foods Company (NASDAQ:SMPL)

Envestnet Asset Management Inc. cut its stake in shares of The Simply Good Foods Company (NASDAQ:SMPL) by 19.7% in the 2nd quarter, Holdings Channel.com reports. The fund owned 109,234 shares of the financial services provider’s stock after selling 26,844 shares during the period. Envestnet Asset Management Inc.’s holdings in Simply Good Foods were worth $3,947,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of SMPL. UniSuper Management Pty Ltd purchased a new position in shares of Simply Good Foods in the first quarter worth $615,000. Nordea Investment Management AB purchased a new stake in shares of Simply Good Foods during the 1st quarter valued at about $3,821,000. Mutual of America Capital Management LLC grew its stake in shares of Simply Good Foods by 507.9% in the first quarter. Mutual of America Capital Management LLC now owns 96,435 shares of the financial services provider’s stock worth $3,282,000 after acquiring an additional 80,571 shares during the period. BNP Paribas Financial Markets raised its holdings in shares of Simply Good Foods by 171.2% during the first quarter. BNP Paribas Financial Markets now owns 214,587 shares of the financial services provider’s stock valued at $7,302,000 after purchasing an additional 135,465 shares during the last quarter. Finally, Congress Asset Management Co. MA boosted its holdings 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 during the last quarter. Hedge funds and other institutional investors own 88.45% of the company’s stock.

Insider Buying and Selling at Simply Good Foods

In other news, SVP Stuart E. Jr. Heflin sold 1,058 shares of the business’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $34.44, for a total transaction of $36,437.52. Following the sale, the senior vice president now directly owns 19,319 shares of the company’s stock, valued at $665,346.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 10.98% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on SMPL. 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. Stifel Nicolaus upped their target price on shares of 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 boosted their price objective on shares of Simply Good Foods from $36.00 to $37.00 and gave the company a “hold” rating in a research report on Friday, June 14th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $41.00 target price on shares of Simply Good Foods in a research report on Friday, June 28th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $40.29.

Simply Good Foods Price Performance

Shares of SMPL opened at $33.78 on Thursday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 4.05 and a current ratio of 5.19. The company has a 50 day moving average price of $33.16 and a 200-day moving average price of $34.75. The Simply Good Foods Company has a fifty-two week low of $30.00 and a fifty-two week high of $43.00. The stock has a market capitalization of $3.38 billion, a PE ratio of 23.30, a PEG ratio of 2.30 and a beta of 0.62.

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.