Pitcairn Co. Sells 1,981 Shares of The Simply Good Foods Company (NASDAQ:SMPL)

Pitcairn Co. cut its stake in The Simply Good Foods Company (NASDAQ:SMPL) by 14.5% in the third quarter, HoldingsChannel reports. The fund owned 11,709 shares of the financial services provider’s stock after selling 1,981 shares during the period. Pitcairn Co.’s holdings in Simply Good Foods were worth $407,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of SMPL. Quarry LP bought a new position in Simply Good Foods in the 2nd quarter worth approximately $30,000. GAMMA Investing LLC increased its stake in shares of Simply Good Foods by 182.4% in the 2nd quarter. GAMMA Investing LLC now owns 850 shares of the financial services provider’s stock valued at $31,000 after buying an additional 549 shares during the period. EverSource Wealth Advisors LLC raised its position in shares of Simply Good Foods by 236.4% during 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 last quarter. Innealta Capital LLC acquired a new position in shares of Simply Good Foods during the second quarter valued at $71,000. Finally, KBC Group NV boosted its holdings in 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 valued at $107,000 after acquiring an additional 746 shares during the last quarter. 88.45% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Simply Good Foods news, Director Joseph Scalzo sold 147,200 shares of the business’s stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $36.86, for a total transaction of $5,425,792.00. Following the transaction, the director now owns 141,439 shares of the company’s stock, valued at $5,213,441.54. The trade was a 51.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Timothy Richard Kraft sold 76,761 shares of the firm’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $37.60, for a total transaction of $2,886,213.60. Following the completion of the transaction, the insider now directly owns 40,068 shares of the company’s stock, valued at $1,506,556.80. This represents a 65.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 327,869 shares of company stock valued at $12,139,570 in the last quarter. 10.98% of the stock is currently owned by insiders.

Simply Good Foods Stock Up 0.4 %

Shares of NASDAQ SMPL opened at $40.01 on Wednesday. The Simply Good Foods Company has a 52-week low of $30.00 and a 52-week high of $43.00. The company has a debt-to-equity ratio of 0.23, a quick ratio of 2.75 and a current ratio of 4.05. The stock has a market cap of $4.01 billion, a P/E ratio of 28.99, a P/E/G ratio of 3.45 and a beta of 0.64. The firm has a 50 day moving average price of $34.86 and a 200 day moving average price of $35.02.

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 the consensus estimate of $0.50. The business had revenue of $375.70 million during the quarter, compared to analyst estimates of $373.07 million. Simply Good Foods had a return on equity of 10.23% and a net margin of 10.46%. Simply Good Foods’s quarterly revenue was up 17.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.41 EPS. Analysts expect that The Simply Good Foods Company will post 1.76 EPS for the current year.

Wall Street Analyst Weigh In

SMPL has been the subject of several recent research reports. Citigroup dropped their price objective on Simply Good Foods from $46.00 to $43.00 and set a “buy” rating for the company in a report on Thursday, November 14th. Stephens dropped 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 note on Wednesday, October 23rd. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus 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.