Massachusetts Financial Services Co. MA Invests $27.39 Million in The Simply Good Foods Company (NASDAQ:SMPL)

Massachusetts Financial Services Co. MA acquired a new position in The Simply Good Foods Company (NASDAQ:SMPL) in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 787,767 shares of the financial services provider’s stock, valued at approximately $27,391,000.

Other hedge funds have also recently made changes to their positions in the company. Quarry LP bought a new position in shares of Simply Good Foods in the second quarter worth about $30,000. GAMMA Investing LLC boosted its stake in shares of Simply Good Foods by 182.4% in the second quarter. GAMMA Investing LLC now owns 850 shares of the financial services provider’s stock worth $31,000 after acquiring an additional 549 shares during the period. EverSource Wealth Advisors LLC boosted its stake in shares of Simply Good Foods by 236.4% in the second quarter. EverSource Wealth Advisors LLC now owns 1,766 shares of the financial services provider’s stock worth $60,000 after acquiring an additional 1,241 shares during the period. Innealta Capital LLC bought a new position in shares of Simply Good Foods in the second quarter worth about $71,000. Finally, KBC Group NV boosted its stake in shares of Simply Good Foods by 31.9% in the third quarter. KBC Group NV now owns 3,084 shares of the financial services provider’s stock worth $107,000 after acquiring an additional 746 shares during the period. Institutional investors own 88.45% of the company’s stock.

Insider Buying and Selling at Simply Good Foods

In other Simply Good Foods news, Director Joseph Scalzo sold 2,374 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $36.23, for a total transaction of $86,010.02. Following the sale, the director now directly owns 136,830 shares in the company, valued at $4,957,350.90. This represents a 1.71 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Timothy Richard Kraft sold 76,761 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $37.60, for a total value of $2,886,213.60. Following the sale, the insider now owns 40,068 shares in the company, valued at approximately $1,506,556.80. This trade represents a 65.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 327,869 shares of company stock worth $12,139,570 over the last ninety days. Company insiders own 10.98% of the company’s stock.

Simply Good Foods Trading Up 2.1 %

Shares of SMPL stock opened at $39.84 on Tuesday. The Simply Good Foods Company has a 1 year low of $30.00 and a 1 year high of $43.00. The company has a debt-to-equity ratio of 0.23, a current ratio of 4.05 and a quick ratio of 2.75. The stock’s 50 day simple moving average is $34.86 and its two-hundred day simple moving average is $35.02. The company has a market cap of $3.99 billion, a PE ratio of 28.87, a price-to-earnings-growth ratio of 3.45 and a beta of 0.64.

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

Analysts Set New Price Targets

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

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.