BlackRock Inc. increased its stake in Simply Good Foods Co (NASDAQ:SMPL) by 9.3% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,310,881 shares of the financial services provider’s stock after purchasing an additional 366,590 shares during the quarter. BlackRock Inc. owned 5.26% of Simply Good Foods worth $81,477,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Meeder Asset Management Inc. bought a new stake in shares of Simply Good Foods in the fourth quarter worth $101,000. New York State Common Retirement Fund boosted its holdings in Simply Good Foods by 54.3% in the fourth quarter. New York State Common Retirement Fund now owns 193,093 shares of the financial services provider’s stock worth $3,649,000 after purchasing an additional 67,989 shares during the period. Teachers Advisors LLC boosted its holdings in Simply Good Foods by 4.0% in the third quarter. Teachers Advisors LLC now owns 118,414 shares of the financial services provider’s stock worth $2,303,000 after purchasing an additional 4,572 shares during the period. Renaissance Technologies LLC acquired a new position in Simply Good Foods in the third quarter worth $13,115,000. Finally, Dimensional Fund Advisors LP acquired a new position in Simply Good Foods in the third quarter worth $4,700,000. Institutional investors and hedge funds own 85.06% of the company’s stock.
SMPL has been the subject of several analyst reports. Stifel Nicolaus boosted their price target on shares of Simply Good Foods from $20.00 to $22.00 and gave the company a “buy” rating in a report on Friday, January 4th. Buckingham Research upped their price objective on shares of Simply Good Foods from $23.00 to $25.00 and gave the stock a “buy” rating in a report on Friday, April 5th. SunTrust Banks cut shares of Simply Good Foods from a “buy” rating to a “hold” rating and dropped their price target for the stock from $25.00 to $23.00 in a research report on Tuesday, April 9th. They noted that the move was a valuation call. Finally, Zacks Investment Research downgraded Simply Good Foods from a “hold” rating to a “sell” rating in a report on Saturday, January 5th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $23.00.
Simply Good Foods (NASDAQ:SMPL) last announced its earnings results on Thursday, April 4th. The financial services provider reported $0.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.14 by $0.01. The firm had revenue of $123.80 million during the quarter, compared to analysts’ expectations of $121.91 million. Simply Good Foods had a return on equity of 6.34% and a net margin of 10.17%. The business’s revenue was up 13.3% compared to the same quarter last year. On average, analysts predict that Simply Good Foods Co will post 0.64 EPS for the current year.
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About Simply Good Foods
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.
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