Gabelli Funds LLC Purchases 12,500 Shares of The Simply Good Foods Company $SMPL

Gabelli Funds LLC increased its holdings in The Simply Good Foods Company (NASDAQ:SMPL) by 14.4% during the 1st quarter, HoldingsChannel reports. The firm owned 99,500 shares of the financial services provider’s stock after buying an additional 12,500 shares during the period. Gabelli Funds LLC’s holdings in Simply Good Foods were worth $3,432,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the business. Caisse DE Depot ET Placement DU Quebec purchased a new position in shares of Simply Good Foods in the 1st quarter worth $1,259,000. Jump Financial LLC purchased a new position in Simply Good Foods in the first quarter worth about $316,000. AlphaQuest LLC grew its position in Simply Good Foods by 273.9% in the first quarter. AlphaQuest LLC now owns 57,006 shares of the financial services provider’s stock worth $1,966,000 after acquiring an additional 41,758 shares in the last quarter. Van Hulzen Asset Management LLC increased its stake in Simply Good Foods by 1.4% during the first quarter. Van Hulzen Asset Management LLC now owns 36,886 shares of the financial services provider’s stock worth $1,272,000 after acquiring an additional 522 shares during the last quarter. Finally, 1832 Asset Management L.P. raised its position in Simply Good Foods by 318.8% during the first quarter. 1832 Asset Management L.P. now owns 26,379 shares of the financial services provider’s stock valued at $910,000 after purchasing an additional 20,080 shares during the period. Institutional investors own 88.45% of the company’s stock.

Insider Transactions at Simply Good Foods

In other news, CEO Geoff E. Tanner acquired 6,050 shares of the company’s stock in a transaction that occurred on Wednesday, July 23rd. The shares were bought at an average price of $33.11 per share, with a total value of $200,315.50. Following the completion of the purchase, the chief executive officer directly owned 98,190 shares in the company, valued at $3,251,070.90. This trade represents a 6.57% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 9.35% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Mizuho cut their target price on Simply Good Foods from $47.00 to $43.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 15th. Wall Street Zen downgraded shares of Simply Good Foods from a “buy” rating to a “hold” rating in a research note on Saturday, June 21st. Stifel Nicolaus dropped their price target on shares of Simply Good Foods from $40.00 to $38.00 and set a “buy” rating for the company in a research note on Friday, June 27th. Citigroup cut their price target on shares of Simply Good Foods from $43.00 to $40.00 and set a “buy” rating on the stock in a report on Wednesday, June 18th. Finally, DA Davidson decreased their price objective on shares of Simply Good Foods from $42.00 to $38.00 and set a “neutral” rating for the company in a research note on Monday, June 9th. Five equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $39.88.

Simply Good Foods Trading Down 0.0%

SMPL stock opened at $28.63 on Friday. The company has a market capitalization of $2.88 billion, a PE ratio of 20.02, a P/E/G ratio of 2.81 and a beta of 0.59. The Simply Good Foods Company has a 12 month low of $28.14 and a 12 month high of $40.53. The firm’s 50-day moving average is $31.05 and its 200 day moving average is $33.84. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.95 and a quick ratio of 2.46.

Simply Good Foods (NASDAQ:SMPL) last released its quarterly earnings data on Thursday, July 10th. The financial services provider reported $0.51 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.51. The company had revenue of $380.96 million during the quarter, compared to analysts’ expectations of $381.68 million. Simply Good Foods had a net margin of 9.97% and a return on equity of 10.29%. The firm’s quarterly revenue was up 13.8% on a year-over-year basis. During the same period in the previous year, the company earned $0.50 EPS. On average, research analysts anticipate that The Simply Good Foods Company will post 1.78 EPS for the current year.

Simply Good Foods Company 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.