Amalgamated Bank Reduces Position in The Simply Good Foods Company (NASDAQ:SMPL)

Amalgamated Bank decreased its holdings in The Simply Good Foods Company (NASDAQ:SMPL) by 3.4% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 26,859 shares of the financial services provider’s stock after selling 936 shares during the quarter. Amalgamated Bank’s holdings in Simply Good Foods were worth $934,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the business. Quarry LP bought a new stake in shares of Simply Good Foods in the second quarter worth approximately $30,000. GAMMA Investing LLC grew its position in Simply Good Foods by 182.4% in the 2nd quarter. GAMMA Investing LLC now owns 850 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 549 shares during the period. EverSource Wealth Advisors LLC raised its stake in Simply Good Foods by 236.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,766 shares of the financial services provider’s stock valued at $60,000 after buying an additional 1,241 shares during the last quarter. Innealta Capital LLC bought a new position in shares of Simply Good Foods during the 2nd quarter valued at $71,000. Finally, Covestor Ltd boosted its stake in shares of Simply Good Foods by 32.8% in the 1st quarter. Covestor Ltd now owns 3,902 shares of the financial services provider’s stock worth $133,000 after buying an additional 963 shares during the last quarter. Hedge funds and other institutional investors own 88.45% of the company’s stock.

Insider Buying and Selling

In other news, CAO Timothy Allen Matthews sold 5,325 shares of Simply Good Foods stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $37.31, for a total transaction of $198,675.75. Following the sale, the chief accounting officer now owns 17,063 shares in the company, valued at $636,620.53. This trade represents a 23.79 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Joseph Scalzo sold 25,000 shares of the company’s stock in a transaction on 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 approximately $5,009,951.96. This represents a 15.22 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 251,108 shares of company stock valued at $9,253,356. Company insiders own 10.98% of the company’s stock.

Analysts Set New Price Targets

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

Simply Good Foods Stock Up 2.3 %

SMPL stock opened at $37.32 on Friday. The business’s 50-day moving average price is $34.15 and its 200-day moving average price is $34.95. The stock has a market cap of $3.74 billion, a P/E ratio of 27.04, a PEG ratio of 3.25 and a beta of 0.64. 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 Simply Good Foods Company has a twelve month low of $30.00 and a twelve month high of $43.00.

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