Bank of America Corp DE Raises Stock Holdings in The Simply Good Foods Company (NASDAQ:SMPL)

Bank of America Corp DE increased its holdings in shares of The Simply Good Foods Company (NASDAQ:SMPL) by 14.5% in the fourth quarter, Holdings Channel.com reports. The fund owned 444,442 shares of the financial services provider’s stock after buying an additional 56,122 shares during the quarter. Bank of America Corp DE’s holdings in Simply Good Foods were worth $17,324,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. R Squared Ltd purchased a new stake in Simply Good Foods in the fourth quarter worth $26,000. CIBC Private Wealth Group LLC grew its holdings in shares of Simply Good Foods by 72.4% in the fourth quarter. CIBC Private Wealth Group LLC now owns 1,060 shares of the financial services provider’s stock worth $38,000 after purchasing an additional 445 shares during the last quarter. Smartleaf Asset Management LLC increased its stake in Simply Good Foods by 255.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,710 shares of the financial services provider’s stock worth $66,000 after buying an additional 1,229 shares during the period. Quadrant Capital Group LLC lifted its holdings in Simply Good Foods by 13.5% during the 4th quarter. Quadrant Capital Group LLC now owns 2,517 shares of the financial services provider’s stock valued at $98,000 after buying an additional 300 shares in the last quarter. Finally, Parkside Financial Bank & Trust boosted its position in Simply Good Foods by 119.1% in the 4th quarter. Parkside Financial Bank & Trust now owns 2,861 shares of the financial services provider’s stock valued at $112,000 after buying an additional 1,555 shares during the period. Hedge funds and other institutional investors own 88.45% of the company’s stock.

Insider Buying and Selling at Simply Good Foods

In related news, SVP Stuart E. Jr. Heflin sold 5,000 shares of the company’s stock in a transaction dated Friday, April 11th. The stock was sold at an average price of $37.25, for a total transaction of $186,250.00. Following the transaction, the senior vice president now directly owns 12,839 shares of the company’s stock, valued at $478,252.75. This represents a 28.03% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 9.35% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on SMPL. Mizuho raised their target price on shares of Simply Good Foods from $45.00 to $47.00 and gave the stock an “outperform” rating in a research report on Friday, April 11th. Morgan Stanley raised their price objective on Simply Good Foods from $36.00 to $37.00 and gave the stock an “equal weight” rating in a report on Thursday, April 10th. DA Davidson upped their target price on Simply Good Foods from $35.00 to $41.00 and gave the stock a “neutral” rating in a report on Friday, April 11th. Finally, UBS Group started coverage on shares of Simply Good Foods in a report on Wednesday, April 23rd. They issued a “neutral” rating and a $41.00 price target for the company. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, Simply Good Foods presently has a consensus rating of “Moderate Buy” and a consensus target price of $41.00.

Simply Good Foods Price Performance

SMPL opened at $36.23 on Wednesday. The firm has a market capitalization of $3.66 billion, a PE ratio of 25.70, a price-to-earnings-growth ratio of 3.23 and a beta of 0.72. The company has a debt-to-equity ratio of 0.20, a current ratio of 4.23 and a quick ratio of 2.75. The business’s 50-day moving average is $35.36 and its two-hundred day moving average is $36.78. The Simply Good Foods Company has a 1 year low of $31.25 and a 1 year high of $40.53.

Simply Good Foods (NASDAQ:SMPL) last released its quarterly earnings results on Wednesday, April 9th. The financial services provider reported $0.46 earnings per share for the quarter, beating analysts’ consensus estimates of $0.40 by $0.06. The business had revenue of $359.70 million for the quarter, compared to analysts’ expectations of $354.50 million. Simply Good Foods had a net margin of 10.40% and a return on equity of 10.25%. The company’s revenue was up 15.2% compared to the same quarter last year. During the same period last year, the business earned $0.40 EPS. Research analysts anticipate that The Simply Good Foods Company will post 1.78 earnings per share for the current fiscal year.

About Simply Good Foods

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.