Covea Finance Sells 111,500 Shares of The Simply Good Foods Company $SMPL

Covea Finance cut its position in The Simply Good Foods Company (NASDAQ:SMPL) by 45.4% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 134,000 shares of the financial services provider’s stock after selling 111,500 shares during the quarter. Covea Finance’s holdings in Simply Good Foods were worth $3,326,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of SMPL. EverSource Wealth Advisors LLC increased its holdings in shares of Simply Good Foods by 125.4% in the second quarter. EverSource Wealth Advisors LLC now owns 967 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 538 shares during the period. CWM LLC grew its position in Simply Good Foods by 343.0% during the third quarter. CWM LLC now owns 2,605 shares of the financial services provider’s stock worth $65,000 after buying an additional 2,017 shares in the last quarter. Quarry LP increased its stake in Simply Good Foods by 59.7% in the 1st quarter. Quarry LP now owns 2,009 shares of the financial services provider’s stock worth $69,000 after acquiring an additional 751 shares during the last quarter. State of Wyoming purchased a new stake in shares of Simply Good Foods in the 2nd quarter valued at about $87,000. Finally, Russell Investments Group Ltd. raised its holdings in shares of Simply Good Foods by 2,055.7% in the 1st quarter. Russell Investments Group Ltd. now owns 3,018 shares of the financial services provider’s stock valued at $104,000 after acquiring an additional 2,878 shares in the last quarter. 88.45% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Stifel Nicolaus set a $32.00 price objective on Simply Good Foods in a report on Friday, October 24th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $22.00 target price on shares of Simply Good Foods in a research report on Monday, December 15th. Jefferies Financial Group decreased their price target on shares of Simply Good Foods from $32.00 to $27.00 and set a “hold” rating on the stock in a report on Wednesday, October 22nd. Zacks Research cut shares of Simply Good Foods from a “hold” rating to a “strong sell” rating in a research report on Tuesday, October 28th. Finally, Mizuho dropped their price objective on shares of Simply Good Foods from $43.00 to $35.00 and set an “outperform” rating for the company in a report on Wednesday, November 12th. Four research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $30.22.

Insider Buying and Selling

In related news, insider Michael L. Clawson purchased 5,000 shares of the firm’s stock in a transaction on Monday, November 17th. The shares were acquired at an average cost of $20.00 per share, with a total value of $100,000.00. Following the purchase, the insider directly owned 37,620 shares of the company’s stock, valued at approximately $752,400. This trade represents a 15.33% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Timothy Allen Matthews sold 5,859 shares of the business’s stock in a transaction that occurred on Tuesday, November 11th. The shares were sold at an average price of $19.47, for a total value of $114,074.73. Following the completion of the sale, the chief accounting officer owned 18,065 shares of the company’s stock, valued at $351,725.55. The trade was a 24.49% decrease in their position. The SEC filing for this sale provides additional information. 8.76% of the stock is owned by corporate insiders.

Simply Good Foods Stock Performance

Simply Good Foods stock opened at $19.77 on Friday. The firm has a fifty day simple moving average of $20.00 and a two-hundred day simple moving average of $26.14. The company has a quick ratio of 2.30, a current ratio of 3.64 and a debt-to-equity ratio of 0.14. The Simply Good Foods Company has a twelve month low of $18.45 and a twelve month high of $40.01. The company has a market capitalization of $1.88 billion, a PE ratio of 19.38, a P/E/G ratio of 4.96 and a beta of 0.37.

Simply Good Foods (NASDAQ:SMPL) last announced its quarterly earnings data on Thursday, October 23rd. The financial services provider reported $0.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.02). Simply Good Foods had a net margin of 7.14% and a return on equity of 10.06%. The company had revenue of $369.04 million for the quarter, compared to the consensus estimate of $369.07 million. During the same period last year, the business posted $0.50 earnings per share. The firm’s quarterly revenue was down 1.8% compared to the same quarter last year. Research analysts expect that The Simply Good Foods Company will post 1.78 EPS for the current year.

About Simply Good Foods

Simply Good Foods Co (NASDAQ: SMPL) is a North American consumer packaged foods company specializing in better-for-you nutrition products. The company’s portfolio centers on two well-established brands, Atkins and Quest, which offer a range of low-carbohydrate, high-protein bars, powders, shakes, and snacks. Simply Good Foods aims to support consumers’ health and wellness goals by delivering convenient, nutrient-dense options without added sugars or artificial sweeteners.

Under the Atkins brand, the company produces meal replacements, snack bars, and ready-to-drink shakes designed for low-carb dieters.