Charles Schwab Investment Management Inc. Increases Stake in The Simply Good Foods Company (NASDAQ:SMPL)

Charles Schwab Investment Management Inc. boosted its holdings in The Simply Good Foods Company (NASDAQ:SMPL) by 5.8% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 990,010 shares of the financial services provider’s stock after buying an additional 54,334 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Simply Good Foods were worth $34,423,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the business. Dimensional Fund Advisors LP raised its stake in shares of Simply Good Foods by 6.8% during the second quarter. Dimensional Fund Advisors LP now owns 3,223,666 shares of the financial services provider’s stock valued at $116,468,000 after purchasing an additional 203,914 shares during the period. Boston Trust Walden Corp acquired a new stake in shares of Simply Good Foods during the third quarter worth approximately $80,270,000. Principal Financial Group Inc. grew its position in shares of Simply Good Foods by 14.3% during the second 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 in the last quarter. Victory Capital Management Inc. grew its position in shares of Simply Good Foods by 13.5% during the third quarter. Victory Capital Management Inc. now owns 1,045,457 shares of the financial services provider’s stock worth $36,351,000 after buying an additional 124,655 shares in the last quarter. Finally, Armistice Capital LLC acquired a new stake in shares of Simply Good Foods during the second quarter worth approximately $34,582,000. Hedge funds and other institutional investors own 88.45% of the company’s stock.

Insider Buying and Selling

In other Simply Good Foods news, Director Joseph Scalzo sold 25,000 shares of Simply Good Foods stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $35.99, for a total transaction of $899,750.00. Following the transaction, the director now owns 139,204 shares of the company’s stock, valued at $5,009,951.96. The trade was a 15.22 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Timothy Richard Kraft sold 21,209 shares of Simply Good Foods stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $36.50, for a total value of $774,128.50. Following the transaction, the insider now directly owns 40,068 shares in the company, valued at approximately $1,462,482. This trade represents a 34.61 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 327,869 shares of company stock valued at $12,139,570. 10.98% of the stock is owned by corporate insiders.

Simply Good Foods Price Performance

Shares of NASDAQ SMPL opened at $39.70 on Wednesday. The Simply Good Foods Company has a fifty-two week low of $30.00 and a fifty-two week high of $43.00. The firm’s 50-day simple moving average is $35.46 and its 200 day simple moving average is $35.09. The company has a quick ratio of 2.75, a current ratio of 4.05 and a debt-to-equity ratio of 0.23. The stock has a market cap of $3.98 billion, a P/E ratio of 28.77, a P/E/G ratio of 3.52 and a beta of 0.67.

Simply Good Foods (NASDAQ:SMPL) last issued its quarterly earnings results on Thursday, October 24th. The financial services provider reported $0.50 EPS for the quarter, hitting the consensus estimate of $0.50. Simply Good Foods had a net margin of 10.46% and a return on equity of 10.23%. The firm had revenue of $375.70 million for the quarter, compared to analysts’ expectations of $373.07 million. During the same period in the previous year, the business earned $0.41 earnings per share. Simply Good Foods’s revenue for the quarter was up 17.3% compared to the same quarter last year. Equities analysts expect that The Simply Good Foods Company will post 1.76 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on SMPL. Citigroup decreased their price target on shares of Simply Good Foods from $46.00 to $43.00 and set a “buy” rating for the company in a research report on Thursday, November 14th. Stephens decreased their price objective on shares of Simply Good Foods from $44.00 to $42.00 and set an “overweight” rating for the company in a report on Wednesday, October 23rd. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $40.78.

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.