Banque Pictet & Cie SA Invests $383,000 in The Simply Good Foods Company (NASDAQ:SMPL)

Banque Pictet & Cie SA acquired a new stake in The Simply Good Foods Company (NASDAQ:SMPL) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 11,116 shares of the financial services provider’s stock, valued at approximately $383,000.

A number of other hedge funds have also recently modified their holdings of SMPL. Wells Fargo & Company MN boosted its holdings in Simply Good Foods by 50.2% in the 4th quarter. Wells Fargo & Company MN now owns 45,685 shares of the financial services provider’s stock valued at $1,781,000 after purchasing an additional 15,275 shares during the last quarter. Wealth Enhancement Advisory Services LLC purchased a new stake in shares of Simply Good Foods during the 4th quarter valued at approximately $206,000. Assenagon Asset Management S.A. acquired a new position in Simply Good Foods in the first quarter valued at approximately $1,437,000. SG Americas Securities LLC purchased a new position in Simply Good Foods in the first quarter worth approximately $712,000. Finally, Rhumbline Advisers increased its stake in Simply Good Foods by 0.8% during the first quarter. Rhumbline Advisers now owns 255,703 shares of the financial services provider’s stock worth $8,819,000 after acquiring an additional 1,904 shares during the last quarter. Hedge funds and other institutional investors own 88.45% of the company’s stock.

Simply Good Foods Stock Performance

NASDAQ SMPL opened at $32.31 on Friday. The company has a debt-to-equity ratio of 0.16, a current ratio of 4.27 and a quick ratio of 2.70. The company has a market cap of $3.26 billion, a P/E ratio of 22.44, a P/E/G ratio of 2.96 and a beta of 0.68. The stock has a 50-day moving average of $33.87 and a two-hundred day moving average of $35.43. The Simply Good Foods Company has a 1-year low of $30.47 and a 1-year high of $40.53.

Simply Good Foods (NASDAQ:SMPL) last posted its quarterly earnings data on Thursday, July 10th. The financial services provider reported $0.51 EPS for the quarter, beating the consensus estimate of $0.50 by $0.01. Simply Good Foods had a net margin of 10.31% and a return on equity of 10.39%. The business had revenue of $380,956 billion during the quarter, compared to analyst estimates of $381.68 million. During the same quarter last year, the firm posted $0.50 earnings per share. The business’s revenue for the quarter was up 13.8% compared to the same quarter last year. As a group, analysts anticipate that The Simply Good Foods Company will post 1.78 EPS for the current year.

Analyst Upgrades and Downgrades

SMPL has been the topic of a number of research analyst reports. DA Davidson reduced their target price on Simply Good Foods from $42.00 to $38.00 and set a “neutral” rating on the stock in a research report on Monday, June 9th. UBS Group set a $36.00 price objective on shares of Simply Good Foods and gave the company a “neutral” rating in a report on Tuesday, July 1st. Citigroup lowered their target price on shares of Simply Good Foods from $43.00 to $40.00 and set a “buy” rating for the company in a research note on Wednesday, June 18th. Wall Street Zen cut shares of Simply Good Foods from a “buy” rating to a “hold” rating in a research report on Saturday, June 21st. Finally, Stifel Nicolaus decreased their price objective on shares of Simply Good Foods from $40.00 to $38.00 and set a “buy” rating on the stock in a report on Friday, June 27th. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $39.71.

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.