GAMMA Investing LLC increases equity stake in The Simply Good Foods Company (NASDAQ:SMPL)

GAMMA Investing LLC increased its holdings in The Simply Good Foods Company (NASDAQ:SMPL – Free Report) by 182.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The company owned 850 shares of the financial services provider’s stock after purchasing an additional 549 shares during the period. GAMMA Investing LLC’s holdings in Simply Good Foods were worth $31,000, according to its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their holdings in SMPL. Norges Bank acquired a new stake in shares of Simply Good Foods in the fourth quarter valued at $39,991,000. Champlain Investment Partners LLC increased 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 acquiring an additional 854,550 shares in the last quarter. Boston Partners acquired a new stake in shares of Simply Good Foods in the fourth quarter valued at $20,242,000. Principal Financial Group Inc. increased its stake in shares of Simply Good Foods by 17.1% in the fourth quarter. Principal Financial Group Inc. now owns 1,930,744 shares of the financial services provider’s stock valued at $76,457,000 after acquiring an additional 281,603 shares in the last quarter. Finally, Assenagon Asset Management SA increased its stake in shares of Simply Good Foods by 248.8% in the first quarter. Assenagon Asset Management SA now owns 333,760 shares of the financial services provider’s stock valued at $11,358,000 after acquiring an additional 238,064 shares in the last quarter. 88.45% of the shares are currently held by hedge funds and other institutional investors.

Insider buying and selling

In related news, SVP Stuart E. Jr. Heflin sold 1,058 shares of the company’s stock on Wednesday, July 31. The shares were sold at an average price of $34.44, for a total transaction of $36,437.52. Following the transaction, the senior vice president now owns 19,319 shares of the company’s stock, valued at $665,346.36. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 10.98% of the company’s stock.

Wall Street analysts comment

Several research firms have commented on SMPL. Stifel Nicolaus raised their price target on Simply Good Foods from $38.00 to $40.00 and gave the company a “buy” rating in a research note on Friday, June 14th. TD Cowen began coverage on Simply Good Foods in a research note on Monday, April 22nd. They issued a “hold” rating and a $34.00 price target on the stock. Deutsche Bank Aktiengesellschaft increased their price target on Simply Good Foods from $36.00 to $37.00 and gave the company a “hold” rating in a research note on Friday, June 14th. Needham & Company LLC reiterated a “buy” rating and issued a $41.00 price target on shares of Simply Good Foods in a research report on Friday, June 28th. Finally, DA Davidson raised their price target on Simply Good Foods from $35.00 to $38.00 and gave the stock a “neutral” rating in a research report on Monday, July 1. Three equities analysts have rated the stock with a “hold” rating and four have given the company a “buy” rating. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $40.29.

Check out our latest research report on SMPL

Simply Good Foods share price

NASDAQ SMPL opened at $32.57 on Monday. The company has a quick ratio of 4.05, a current ratio of 5.19 and a debt-to-equity ratio of 0.14. The Simply Good Foods Company has a 52-week low of $30.00 and a 52-week high of $43.00. The company’s 50-day average price is $35.60 and its 200-day average price is $35.43. The company has a market cap of $3.26 billion, a P/E ratio of 22.46, a PEG ratio of 2.28 and a beta of 0.61.

Simply Good Foods (NASDAQ:SMPL – Free Report) last released its quarterly earnings results on Thursday, June 27. The financial services provider reported earnings per share (EPS) of $0.50 for the quarter, beating analysts’ consensus estimates of $0.48 by $0.02. Simply Good Foods had a return on equity of 10.28% and a net margin of 11.49%. The company had revenue of $334.80 million for the quarter, compared to analyst estimates of $337.66 million. In the same quarter last year, the company reported earnings per share of $0.40. The company’s revenue grew 3.1% year-over-year. On average, equities analysts expect that The Simply Good Foods Company will report earnings per share of $1.69 for the current year.

About Simply Good Foods

(Free report)

Simply Good Foods Company is a manufacturer of packaged foods and beverages for consumers in North America and internationally. The company develops, markets and sells snacks and meal replacement products. It offers protein bars, ready-to-drink shakes, sweet and salty snacks, cookies, protein chips and recipes under the Atkins and Quest brand names.