Morgan Stanley Lowers Stock Position in Simply Good Foods Co (NASDAQ:SMPL)

Morgan Stanley reduced its stake in Simply Good Foods Co (NASDAQ:SMPL) by 9.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,267 shares of the financial services provider’s stock after selling 1,715 shares during the quarter. Morgan Stanley’s holdings in Simply Good Foods were worth $416,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. Aperio Group LLC purchased a new stake in Simply Good Foods in the second quarter valued at approximately $102,000. C M Bidwell & Associates Ltd. raised its stake in Simply Good Foods by 42.1% in the second quarter. C M Bidwell & Associates Ltd. now owns 5,675 shares of the financial services provider’s stock valued at $137,000 after purchasing an additional 1,680 shares in the last quarter. Tower Research Capital LLC TRC purchased a new stake in Simply Good Foods in the second quarter valued at approximately $152,000. NumerixS Investment Technologies Inc raised its stake in Simply Good Foods by 79.5% in the second quarter. NumerixS Investment Technologies Inc now owns 7,900 shares of the financial services provider’s stock valued at $190,000 after purchasing an additional 3,500 shares in the last quarter. Finally, Fox Run Management L.L.C. purchased a new position in shares of Simply Good Foods during the second quarter worth approximately $205,000. 73.82% of the stock is currently owned by institutional investors and hedge funds.

Shares of Simply Good Foods stock traded down $0.08 on Tuesday, hitting $24.14. The stock had a trading volume of 622 shares, compared to its average volume of 1,110,599. The company has a quick ratio of 6.65, a current ratio of 7.45 and a debt-to-equity ratio of 0.23. Simply Good Foods Co has a one year low of $16.55 and a one year high of $31.34. The stock has a market cap of $2.30 billion, a price-to-earnings ratio of 43.25 and a beta of 0.73. The stock’s 50-day simple moving average is $25.84 and its two-hundred day simple moving average is $25.63.

Simply Good Foods (NASDAQ:SMPL) last issued its earnings results on Tuesday, October 29th. The financial services provider reported $0.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.15 by ($0.08). Simply Good Foods had a return on equity of 5.79% and a net margin of 9.08%. The firm had revenue of $139.18 million during the quarter, compared to the consensus estimate of $132.50 million. During the same quarter in the prior year, the business posted $0.15 EPS. The firm’s revenue for the quarter was up 28.6% on a year-over-year basis. As a group, equities analysts predict that Simply Good Foods Co will post 0.68 EPS for the current fiscal year.

Several research firms have commented on SMPL. Wells Fargo & Co began coverage on shares of Simply Good Foods in a research note on Monday, September 9th. They set an “outperform” rating and a $35.00 price target on the stock. DA Davidson lifted their price target on shares of Simply Good Foods to $33.00 and gave the stock a “buy” rating in a research note on Thursday, August 22nd. ValuEngine downgraded shares of Simply Good Foods from a “hold” rating to a “sell” rating in a research note on Wednesday, October 30th. Sanford C. Bernstein began coverage on shares of Simply Good Foods in a research note on Monday, August 12th. They set an “outperform” rating on the stock. Finally, Goldman Sachs Group began coverage on shares of Simply Good Foods in a research note on Monday. They set a “buy” rating and a $32.00 price target on the stock. One analyst has rated the stock with a sell rating, two have issued a hold rating and eight have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $29.13.

Simply Good Foods Profile

The Simply Good Foods Company develops, markets, and sells branded nutritional foods and snack products in North America and internationally. It markets nutrition bars, ready-to-drink shakes, snacks, and confectionery products under the Atkins, SimplyProtein, Atkins Harvest Trail, and Atkins Endulge brand names.

Further Reading: What are the reasons investors use put options?

Institutional Ownership by Quarter for Simply Good Foods (NASDAQ:SMPL)

Receive News & Ratings for Simply Good Foods Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Simply Good Foods and related companies with MarketBeat.com's FREE daily email newsletter.