NorthCrest Asset Manangement LLC Acquires Shares of 7,538 The Simply Good Foods Company (NASDAQ:SMPL)

Posted by Defense World Staff on Jul 13th, 2023

NorthCrest Asset Manangement LLC acquired a new stake in shares of The Simply Good Foods Company (NASDAQ:SMPL – Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 7,538 shares of the financial services provider’s stock, valued at approximately $300,000.

Other institutional investors have also added to or reduced their stakes in the company. Congress Asset Management Co. MA raised its position in Simply Good Foods by 8.7% during the first quarter. Congress Asset Management Co. MA now owns 799,551 shares of the financial services provider’s stock valued at $31,798,000 after purchasing an additional 63,666 shares in the last quarter. Arizona State Retirement System raised its position in Simply Good Foods by 3.8% during the fourth quarter. Arizona State Retirement System now owns 24,073 shares of the financial services provider’s stock valued at $915,000 after purchasing an additional 889 shares in the last quarter. Xponance Inc. acquired a new position in Simply Good Foods during the first quarter valued at approximately $223,000. Forte Capital LLC ADV acquired a new position in shares of Simply Good Foods during the fourth quarter worth $219,000. Finally, Handelsinvest Investeringsforvaltning increased its holdings in shares of Simply Good Foods by 62.9% during the fourth quarter. Handelsinvest Investeringsforvaltning now owns 290,000 shares of the financial services provider’s stock worth $11,029,000 after buying an additional 112,000 shares in the last quarter. 90.09% of the stock is currently owned by institutional investors and hedge funds.

Simply Good Foods Stock Performance

Shares of SMPL opened at $36.40 on Thursday. The company has a current ratio of 4.91, a quick ratio of 3.43 and a debt-to-equity ratio of 0.21. The stock has a market capitalization of $3.62 billion, a P/E ratio of 28.89 and a beta of 0.76. The firm’s fifty day simple moving average is $36.85 and its two-hundred day simple moving average is $36.90. The Simply Good Foods Company has a 12 month low of $29.21 and a 12 month high of $40.15.

Simply Good Foods (NASDAQ:SMPL – Get Free Report) last issued its quarterly earnings results on Thursday, June 29th. The financial services provider reported $0.44 EPS for the quarter, beating analysts’ consensus estimates of $0.40 by $0.04. The business had revenue of $324.80 million for the quarter, compared to analysts’ expectations of $321.35 million. Simply Good Foods had a net margin of 10.62% and a return on equity of 9.65%. The business’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.44 earnings per share. As a group, analysts predict that The Simply Good Foods Company will post 1.53 EPS for the current year.

Insider Buying and Selling at Simply Good Foods

In other news, Director Brian K. Ratzan sold 15,133 shares of the stock in a transaction dated Monday, May 15th. The shares were sold at an average price of $40.00, for a total transaction of $605,320.00. Following the transaction, the director now owns 2,672,557 shares of the company’s stock, valued at approximately $106,902,280. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Brian K. Ratzan sold 15,133 shares of the stock in a transaction dated Monday, May 15th. The shares were sold at an average price of $40.00, for a total transaction of $605,320.00. Following the transaction, the director now owns 2,672,557 shares of the company’s stock, valued at approximately $106,902,280. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Timothy Richard Kraft sold 10,656 shares of the stock in a transaction dated Thursday, May 11th. The stock was sold at an average price of $39.61, for a total transaction of $422,084.16. Following the transaction, the insider now directly owns 28,966 shares in the company, valued at approximately $1,147,343.26. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 66,519 shares of company stock valued at $2,590,302. 11.26% of the stock is currently owned by insiders.

Analyst Ratings Changes

SMPL has been the subject of several research analyst reports. Stifel Nicolaus initiated coverage on shares of Simply Good Foods in a report on Thursday, April 13th. They set a “buy” rating and a $41.00 price target for the company. UBS Group lowered their price target on shares of Simply Good Foods from $45.00 to $43.00 and set a “buy” rating for the company in a report on Thursday, April 6th. Deutsche Bank Aktiengesellschaft upped their price target on shares of Simply Good Foods from $42.00 to $43.00 in a report on Friday, June 16th. Stephens upped their price target on shares of Simply Good Foods from $40.00 to $43.00 and gave the stock an “overweight” rating in a report on Wednesday, March 29th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $42.00 price target on shares of Simply Good Foods in a report on Thursday, April 6th. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $41.83.

About Simply Good Foods

(Free Report)

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, pizzas, protein chips, and recipes, as well as licensed frozen meals under the Atkins, Atkins Endulge, and Quest brand names.