Sequoia Financial Advisors LLC Makes New Investment in The Simply Good Foods Company (NASDAQ:SMPL)

Sequoia Financial Advisors LLC purchased a new stake in The Simply Good Foods Company (NASDAQ:SMPL) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 5,843 shares of the financial services provider’s stock, valued at approximately $231,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Advisor Group Holdings Inc. raised its holdings in Simply Good Foods by 7.2% in the first quarter. Advisor Group Holdings Inc. now owns 6,059 shares of the financial services provider’s stock worth $229,000 after purchasing an additional 407 shares during the period. JPMorgan Chase & Co. raised its stake in Simply Good Foods by 1.6% during the 1st quarter. JPMorgan Chase & Co. now owns 129,928 shares of the financial services provider’s stock worth $4,930,000 after buying an additional 2,098 shares during the period. Raymond James & Associates lifted its holdings in Simply Good Foods by 2.7% during the first quarter. Raymond James & Associates now owns 45,543 shares of the financial services provider’s stock worth $1,728,000 after acquiring an additional 1,205 shares in the last quarter. Citigroup Inc. grew its stake in Simply Good Foods by 11.4% in the first quarter. Citigroup Inc. now owns 74,216 shares of the financial services provider’s stock valued at $2,817,000 after acquiring an additional 7,583 shares during the period. Finally, PNC Financial Services Group Inc. increased its holdings in shares of Simply Good Foods by 4.8% in the first quarter. PNC Financial Services Group Inc. now owns 6,454 shares of the financial services provider’s stock worth $246,000 after acquiring an additional 296 shares in the last quarter. 88.45% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on SMPL shares. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $42.00 price objective (up previously from $41.00) on shares of Simply Good Foods in a report on Tuesday, January 2nd. DA Davidson cut their price target on shares of Simply Good Foods from $39.00 to $34.00 and set a “neutral” rating on the stock in a research note on Friday, April 5th. Morgan Stanley reiterated an “overweight” rating and issued a $42.00 price target on shares of Simply Good Foods in a report on Thursday, April 11th. Stifel Nicolaus dropped their price objective on shares of Simply Good Foods from $48.00 to $38.00 and set a “buy” rating on the stock in a report on Thursday, March 28th. Finally, Mizuho reaffirmed a “buy” rating and issued a $50.00 target price on shares of Simply Good Foods in a research note on Friday, April 5th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $41.17.

Simply Good Foods Price Performance

Shares of SMPL opened at $33.17 on Friday. The company has a 50 day moving average of $33.96 and a 200-day moving average of $36.74. The company has a quick ratio of 3.09, a current ratio of 4.20 and a debt-to-equity ratio of 0.14. The stock has a market capitalization of $3.32 billion, a P/E ratio of 23.86, a P/E/G ratio of 2.40 and a beta of 0.69. The Simply Good Foods Company has a twelve month low of $30.00 and a twelve month high of $43.00.

Insider Activity at Simply Good Foods

In other Simply Good Foods news, Director Robert G. Montgomery sold 2,500 shares of Simply Good Foods stock in a transaction on Thursday, January 25th. The shares were sold at an average price of $39.36, for a total value of $98,400.00. Following the sale, the director now directly owns 52,738 shares in the company, valued at approximately $2,075,767.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 10.98% of the stock is owned by insiders.

Simply Good Foods Company 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.