Pitcairn Co. Purchases 615 Shares of The Simply Good Foods Company (NASDAQ:SMPL)

Pitcairn Co. increased its position in shares of The Simply Good Foods Company (NASDAQ:SMPL) by 5.3% in the fourth quarter, HoldingsChannel reports. The firm owned 12,324 shares of the financial services provider’s stock after purchasing an additional 615 shares during the period. Pitcairn Co.’s holdings in Simply Good Foods were worth $480,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in SMPL. State Street Corp increased its holdings in shares of Simply Good Foods by 6.0% during the third quarter. State Street Corp now owns 3,666,190 shares of the financial services provider’s stock worth $127,473,000 after buying an additional 208,070 shares in the last quarter. Wellington Management Group LLP grew its position in Simply Good Foods by 23.5% during the 4th quarter. Wellington Management Group LLP now owns 3,546,239 shares of the financial services provider’s stock worth $138,232,000 after acquiring an additional 674,618 shares during the last quarter. Boston Trust Walden Corp increased its holdings in Simply Good Foods by 31.3% during the 4th quarter. Boston Trust Walden Corp now owns 3,031,574 shares of the financial services provider’s stock valued at $118,171,000 after purchasing an additional 722,963 shares in the last quarter. Geode Capital Management LLC increased its holdings in Simply Good Foods by 0.5% during the 3rd quarter. Geode Capital Management LLC now owns 2,142,679 shares of the financial services provider’s stock valued at $74,515,000 after purchasing an additional 10,477 shares in the last quarter. Finally, Boston Partners raised its position in Simply Good Foods by 109.0% in the 4th quarter. Boston Partners now owns 1,221,285 shares of the financial services provider’s stock valued at $47,287,000 after purchasing an additional 637,038 shares during the last quarter. 88.45% of the stock is owned by institutional investors.

Simply Good Foods Stock Performance

Shares of NASDAQ:SMPL opened at $33.85 on Friday. The stock has a market capitalization of $3.42 billion, a P/E ratio of 24.01, a P/E/G ratio of 3.23 and a beta of 0.63. The company has a current ratio of 4.23, a quick ratio of 2.75 and a debt-to-equity ratio of 0.20. The Simply Good Foods Company has a 1-year low of $31.25 and a 1-year high of $40.53. The business has a 50-day moving average price of $36.14 and a two-hundred day moving average price of $36.27.

Simply Good Foods (NASDAQ:SMPL) last announced its quarterly earnings data on Wednesday, January 8th. The financial services provider reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.43 by $0.06. Simply Good Foods had a net margin of 10.40% and a return on equity of 10.25%. The business had revenue of $341.30 million for the quarter, compared to analyst estimates of $347.32 million. During the same period in the prior year, the business posted $0.43 earnings per share. Simply Good Foods’s revenue was up 10.6% compared to the same quarter last year. Equities analysts predict that The Simply Good Foods Company will post 1.78 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages have recently commented on SMPL. Morgan Stanley assumed coverage on Simply Good Foods in a report on Monday, March 24th. They set an “equal weight” rating and a $36.00 target price on the stock. Mizuho decreased their price objective on shares of Simply Good Foods from $48.00 to $45.00 and set an “outperform” rating on the stock in a report on Friday, January 10th. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $39.56.

Simply Good Foods Profile

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.