OppenheimerFunds Inc. Increases Position in Simply Good Foods Co (NASDAQ:SMPL)

OppenheimerFunds Inc. boosted its position in shares of Simply Good Foods Co (NASDAQ:SMPL) by 29.3% in the first quarter, Holdings Channel reports. The institutional investor owned 1,144,342 shares of the financial services provider’s stock after acquiring an additional 259,192 shares during the period. OppenheimerFunds Inc.’s holdings in Simply Good Foods were worth $23,563,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in SMPL. Quantamental Technologies LLC bought a new position in Simply Good Foods during the first quarter valued at approximately $30,000. US Bancorp DE lifted its stake in shares of Simply Good Foods by 82.1% in the 1st quarter. US Bancorp DE now owns 1,845 shares of the financial services provider’s stock valued at $38,000 after purchasing an additional 832 shares during the last quarter. Lavaca Capital LLC bought a new stake in shares of Simply Good Foods in the 1st quarter valued at approximately $88,000. NumerixS Investment Technologies Inc bought a new stake in shares of Simply Good Foods in the 1st quarter valued at approximately $92,000. Finally, Great West Life Assurance Co. Can lifted its stake in shares of Simply Good Foods by 41.3% in the 1st quarter. Great West Life Assurance Co. Can now owns 9,271 shares of the financial services provider’s stock valued at $190,000 after purchasing an additional 2,712 shares during the last quarter. 85.50% of the stock is owned by institutional investors.

NASDAQ:SMPL opened at $23.44 on Friday. The company has a market capitalization of $1.93 billion, a PE ratio of 40.41 and a beta of 0.77. Simply Good Foods Co has a 1 year low of $13.03 and a 1 year high of $24.46. The company has a debt-to-equity ratio of 0.23, a current ratio of 9.17 and a quick ratio of 7.85.

Simply Good Foods (NASDAQ:SMPL) last issued its quarterly earnings results on Thursday, April 4th. The financial services provider reported $0.15 earnings per share for the quarter, topping the consensus estimate of $0.14 by $0.01. Simply Good Foods had a return on equity of 6.34% and a net margin of 10.17%. The firm had revenue of $123.80 million for the quarter, compared to the consensus estimate of $121.91 million. Simply Good Foods’s revenue was up 13.3% on a year-over-year basis. Research analysts expect that Simply Good Foods Co will post 0.65 EPS for the current fiscal year.

SMPL has been the subject of several analyst reports. Buckingham Research raised their price objective on Simply Good Foods from $23.00 to $25.00 and gave the company a “buy” rating in a research note on Friday, April 5th. SunTrust Banks lowered Simply Good Foods from a “buy” rating to a “hold” rating and lowered their price objective for the company from $25.00 to $23.00 in a research note on Tuesday, April 9th. They noted that the move was a valuation call. Finally, Zacks Investment Research lowered Simply Good Foods from a “buy” rating to a “hold” rating in a research note on Tuesday, May 7th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Simply Good Foods has an average rating of “Buy” and an average price target of $24.25.

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Simply Good Foods Company Profile

The Simply Good Foods Company develops, markets, and sells branded nutritional foods and snack products in North America and internationally. It markets nutrition bars, ready-to-drink shakes, snacks, and confectionery products under the Atkins, SimplyProtein, Atkins Harvest Trail, and Atkins Endulge brand names.

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Institutional Ownership by Quarter for Simply Good Foods (NASDAQ:SMPL)

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