Suntrust Banks Inc. Acquires New Stake in Simply Good Foods Co (NASDAQ:SMPL)

Suntrust Banks Inc. bought a new stake in Simply Good Foods Co (NASDAQ:SMPL) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 17,463 shares of the financial services provider’s stock, valued at approximately $330,000.

Other institutional investors also recently modified their holdings of the company. Bank of America Corp DE grew its holdings in shares of Simply Good Foods by 63.3% during the fourth quarter. Bank of America Corp DE now owns 152,290 shares of the financial services provider’s stock worth $2,878,000 after buying an additional 59,013 shares in the last quarter. Principal Financial Group Inc. bought a new stake in shares of Simply Good Foods in the fourth quarter worth $454,000. Fort L.P. bought a new stake in shares of Simply Good Foods in the fourth quarter worth $386,000. Brown Advisory Inc. bought a new stake in shares of Simply Good Foods in the fourth quarter worth $472,000. Finally, Granite Investment Partners LLC increased its stake in shares of Simply Good Foods by 75.1% in the fourth quarter. Granite Investment Partners LLC now owns 710,390 shares of the financial services provider’s stock worth $13,426,000 after buying an additional 304,788 shares during the last quarter. Institutional investors and hedge funds own 85.03% of the company’s stock.

SMPL has been the subject of a number of research analyst reports. Stifel Nicolaus lifted their price target on shares of Simply Good Foods from $20.00 to $22.00 and gave the stock a “buy” rating in a research note on Friday, January 4th. SunTrust Banks lowered shares of Simply Good Foods from a “buy” rating to a “hold” rating and lowered their target price for the company from $25.00 to $23.00 in a research note on Tuesday, April 9th. They noted that the move was a valuation call. Buckingham Research boosted their target price on shares of Simply Good Foods from $23.00 to $25.00 and gave the company a “buy” rating in a research note on Friday, April 5th. Finally, Zacks Investment Research downgraded shares of Simply Good Foods from a “hold” rating to a “sell” rating in a report on Saturday, January 5th. One analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $23.00.

Shares of SMPL opened at $22.02 on Friday. The firm has a market cap of $1.89 billion, a PE ratio of 37.97 and a beta of 0.69. Simply Good Foods Co has a 1 year low of $12.14 and a 1 year high of $23.29. The company has a debt-to-equity ratio of 0.23, a current ratio of 9.17 and a quick ratio of 7.85.

Simply Good Foods (NASDAQ:SMPL) last posted its quarterly earnings data on Thursday, April 4th. The financial services provider reported $0.15 earnings per share for the quarter, topping the consensus estimate of $0.14 by $0.01. The business had revenue of $123.80 million during the quarter, compared to the consensus estimate of $121.91 million. Simply Good Foods had a net margin of 10.17% and a return on equity of 6.34%. The business’s revenue was up 13.3% compared to the same quarter last year. On average, analysts anticipate that Simply Good Foods Co will post 0.64 earnings per share for the current year.

TRADEMARK VIOLATION WARNING: This report was first published by Baseball Daily News and is owned by of Baseball Daily News. If you are accessing this report on another site, it was illegally stolen and republished in violation of international copyright laws. The original version of this report can be read at https://www.baseballdailydigest.com/news/2019/04/27/suntrust-banks-inc-invests-330000-in-simply-good-foods-co-smpl-stock.html.

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.

Recommended Story: LIBOR

Institutional Ownership by Quarter for Simply Good Foods (NASDAQ:SMPL)

Receive News & Ratings for Simply Good Foods Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Simply Good Foods and related companies with MarketBeat.com's FREE daily email newsletter.