EverSource Wealth Advisors LLC Raises Stake in The Simply Good Foods Company (NASDAQ:SMPL)

EverSource Wealth Advisors LLC lifted its stake in shares of The Simply Good Foods Company (NASDAQ:SMPL) by 236.4% during the 2nd quarter, Holdings Channel reports. The fund owned 1,766 shares of the financial services provider’s stock after buying an additional 1,241 shares during the quarter. EverSource Wealth Advisors LLC’s holdings in Simply Good Foods were worth $60,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. UniSuper Management Pty Ltd acquired a new position in Simply Good Foods in the 1st quarter valued at about $615,000. Nordea Investment Management AB acquired a new position in Simply Good Foods in the first quarter valued at approximately $3,821,000. Mutual of America Capital Management LLC grew its position in 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 increased its stake in 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 worth $7,302,000 after acquiring an additional 135,465 shares during the last quarter. Finally, Congress Asset Management Co. MA raised its position 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 valued at $48,425,000 after purchasing an additional 105,912 shares during the period. Institutional investors and hedge funds own 88.45% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on SMPL shares. DA Davidson increased their price target on Simply Good Foods from $35.00 to $38.00 and gave the stock a “neutral” rating in a report on Monday, July 1st. Needham & Company LLC reaffirmed 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 boosted their price target on shares of Simply Good Foods from $38.00 to $40.00 and gave the company a “buy” rating in a research note on Friday, June 14th. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on shares of 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 analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, Simply Good Foods has an average rating of “Moderate Buy” and an average price target of $40.29.

Insider Buying and Selling

In other Simply Good Foods news, SVP Stuart E. Jr. Heflin sold 1,058 shares of the 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 sale, 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 filing with the Securities & Exchange Commission, which is available through the SEC website. 10.98% of the stock is currently owned by insiders.

Simply Good Foods Stock Up 1.3 %

Shares of SMPL opened at $34.70 on Friday. 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 stock has a market capitalization of $3.47 billion, a PE ratio of 23.93, a P/E/G ratio of 2.28 and a beta of 0.62. The company’s 50-day simple moving average is $33.13 and its 200-day simple moving average is $34.73. The Simply Good Foods Company has a 1 year low of $30.00 and a 1 year high of $43.00.

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

Simply Good Foods 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.