The Simply Good Foods Company (NASDAQ:SMPL) Shares Sold by Congress Asset Management Co.

by · The Cerbat Gem

Congress Asset Management Co. decreased its stake in The Simply Good Foods Company (NASDAQ:SMPL – Free Report) by 35.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 267,297 shares of the financial services provider’s stock after selling 145,038 shares during the period. Congress Asset Management Co. owned approximately 0.27% of Simply Good Foods worth $9,294,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Vanguard Group Inc. boosted its holdings in Simply Good Foods by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 11,099,351 shares of the financial services provider’s stock worth $377,711,000 after acquiring an additional 174,157 shares during the period. Champlain Investment Partners LLC boosted its stake in shares of Simply Good Foods by 27.7% in the first quarter. Champlain Investment Partners LLC now owns 3,939,494 shares of the financial services provider’s stock valued at $134,061,000 after purchasing an additional 854,550 shares during the period. Dimensional Fund Advisors LP grew its holdings in Simply Good Foods by 6.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,223,666 shares of the financial services provider’s stock valued at $116,468,000 after purchasing an additional 203,914 shares in the last quarter. Boston Trust Walden Corp acquired a new stake in Simply Good Foods during the 3rd quarter valued at $80,270,000. Finally, Principal Financial Group Inc. increased its stake in Simply Good Foods by 14.3% during the 2nd quarter. Principal Financial Group Inc. now owns 1,474,736 shares of the financial services provider’s stock worth $53,282,000 after buying an additional 184,539 shares during the period. Institutional investors and hedge funds own 88.45% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Stephens lowered their target price 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 equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $40.50.

View Our Latest Research Report on SMPL

Simply Good Foods Price Performance

SMPL opened at $33.66 on Friday. 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 Simply Good Foods Company has a 1-year low of $30.00 and a 1-year high of $43.00. The company has a 50-day moving average of $33.36 and a 200-day moving average of $34.78. The company has a market capitalization of $3.37 billion, a P/E ratio of 24.39, a PEG ratio of 2.95 and a beta of 0.63.

Simply Good Foods (NASDAQ:SMPL – Get Free Report) last announced its quarterly earnings data on Thursday, October 24th. The financial services provider reported $0.50 earnings per share for the quarter, meeting the consensus estimate of $0.50. The firm 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% on a year-over-year basis. During the same period in the previous year, the company earned $0.41 earnings per share. Equities analysts expect that The Simply Good Foods Company will post 1.79 EPS for the current fiscal year.

About Simply Good Foods

(Free Report)

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.

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