Handelsbanken Fonder AB Sells 40,000 Shares of The Simply Good Foods Company (NASDAQ:SMPL)

Handelsbanken Fonder AB decreased its position in The Simply Good Foods Company (NASDAQ:SMPL) by 5.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 757,300 shares of the financial services provider’s stock after selling 40,000 shares during the period. Handelsbanken Fonder AB owned approximately 0.76% of Simply Good Foods worth $29,989,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of SMPL. Norges Bank bought a new position in Simply Good Foods in the 4th quarter worth about $34,541,000. FMR LLC raised its position in Simply Good Foods by 42.3% in the 3rd quarter. FMR LLC now owns 2,761,132 shares of the financial services provider’s stock worth $95,314,000 after buying an additional 820,801 shares during the last quarter. Scopus Asset Management L.P. raised its position in Simply Good Foods by 174.3% in the 1st quarter. Scopus Asset Management L.P. now owns 1,200,000 shares of the financial services provider’s stock worth $47,724,000 after buying an additional 762,500 shares during the last quarter. Morgan Stanley raised its position in Simply Good Foods by 105.3% in the 3rd quarter. Morgan Stanley now owns 1,354,258 shares of the financial services provider’s stock worth $46,749,000 after buying an additional 694,542 shares during the last quarter. Finally, T. Rowe Price Investment Management Inc. raised its position in Simply Good Foods by 22.0% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 3,106,381 shares of the financial services provider’s stock worth $118,136,000 after buying an additional 559,980 shares during the last quarter. Institutional investors own 88.45% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. Mizuho reissued a “buy” rating and issued a $50.00 target price on shares of Simply Good Foods in a research report on Friday, April 5th. TD Cowen assumed coverage on Simply Good Foods in a research report on Monday. They issued a “hold” rating and a $34.00 target price for the company. Needham & Company LLC decreased their target price on Simply Good Foods from $45.00 to $41.00 and set a “buy” rating for the company in a research report on Friday, April 5th. Morgan Stanley reaffirmed an “overweight” rating and set a $42.00 price target on shares of Simply Good Foods in a research report on Thursday, April 11th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $42.00 price target (up previously from $41.00) on shares of Simply Good Foods in a research report on Tuesday, January 2nd. Three investment 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.com, Simply Good Foods currently has an average rating of “Moderate Buy” and a consensus price target of $40.14.

Insider Buying and Selling

In related news, Director Robert G. Montgomery sold 2,500 shares of the stock in a transaction that occurred 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 completion of the sale, the director now directly owns 52,738 shares of the company’s stock, valued at approximately $2,075,767.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 10.98% of the stock is currently owned by insiders.

Simply Good Foods Price Performance

NASDAQ SMPL opened at $33.17 on Monday. The Simply Good Foods Company has a 52 week low of $30.00 and a 52 week high of $43.00. The firm has a market capitalization of $3.32 billion, a P/E ratio of 23.86, a PEG ratio of 2.45 and a beta of 0.69. 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 company has a 50-day moving average price of $33.96 and a 200-day moving average price of $36.76.

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.