Schwartz Investment Counsel Inc. Takes Position in The Simply Good Foods Company (NASDAQ:SMPL)

Schwartz Investment Counsel Inc. bought a new position in shares of The Simply Good Foods Company (NASDAQ:SMPL) during the 3rd quarter, HoldingsChannel reports. The firm bought 217,500 shares of the financial services provider’s stock, valued at approximately $7,562,000.

Other hedge funds have also recently modified their holdings of the company. Quarry LP purchased a new stake in shares of Simply Good Foods in the 2nd quarter valued at $30,000. GAMMA Investing LLC grew its stake in shares of Simply Good Foods by 182.4% in the second quarter. GAMMA Investing LLC now owns 850 shares of the financial services provider’s stock valued at $31,000 after buying an additional 549 shares in the last quarter. EverSource Wealth Advisors LLC increased its stake in Simply Good Foods by 236.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,766 shares of the financial services provider’s stock worth $60,000 after buying an additional 1,241 shares during the period. Innealta Capital LLC acquired a new stake in shares of Simply Good Foods in the second quarter valued at $71,000. Finally, Headlands Technologies LLC purchased a new position in shares of Simply Good Foods in the 1st quarter valued at about $131,000. Institutional investors and hedge funds own 88.45% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. Stephens decreased their price objective on shares of Simply Good Foods from $44.00 to $42.00 and set an “overweight” rating for the company in a research note on Wednesday. DA Davidson boosted their target price on shares of Simply Good Foods from $35.00 to $38.00 and gave the stock a “neutral” rating in a research report on Monday, July 1st. Finally, Needham & Company LLC restated a “buy” rating and set a $41.00 target price on shares of Simply Good Foods in a report on Friday, June 28th. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $40.50.

Insider Activity at Simply Good Foods

In related news, SVP Stuart E. Jr. Heflin sold 1,058 shares of Simply Good Foods stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $34.44, for a total value of $36,437.52. Following the completion of the transaction, the senior vice president now directly owns 19,319 shares in the company, valued at approximately $665,346.36. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 10.98% of the stock is currently owned by company insiders.

Simply Good Foods Stock Performance

Shares of SMPL stock opened at $33.33 on Friday. The Simply Good Foods Company has a one year low of $30.00 and a one year high of $43.00. The firm has a market capitalization of $3.34 billion, a price-to-earnings ratio of 22.99, a price-to-earnings-growth ratio of 2.22 and a beta of 0.63. The company has a debt-to-equity ratio of 0.14, a quick ratio of 4.05 and a current ratio of 5.19. The company has a 50 day moving average price of $33.28 and a 200 day moving average price of $34.73.

Simply Good Foods (NASDAQ:SMPL) last issued its quarterly earnings data on Thursday, October 24th. The financial services provider reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.45 by $0.05. Simply Good Foods had a net margin of 11.49% and a return on equity of 10.28%. The company had revenue of $375.70 million during the quarter, compared to the consensus estimate of $373.07 million. During the same quarter last year, the company earned $0.41 earnings per share. Simply Good Foods’s revenue for the quarter was up 17.3% on a year-over-year basis. Sell-side analysts anticipate that The Simply Good Foods Company will post 1.69 EPS for the current 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.