McCollum Christoferson Group LLC Sells 2,909 Shares of The Simply Good Foods Company (NASDAQ:SMPL)

McCollum Christoferson Group LLC lowered its stake in shares of The Simply Good Foods Company (NASDAQ:SMPL) by 2.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 132,700 shares of the financial services provider’s stock after selling 2,909 shares during the period. Simply Good Foods accounts for about 1.4% of McCollum Christoferson Group LLC’s investment portfolio, making the stock its 29th biggest holding. McCollum Christoferson Group LLC owned approximately 0.13% of Simply Good Foods worth $4,794,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the stock. GAMMA Investing LLC grew its stake in Simply Good Foods by 182.4% during the 2nd quarter. GAMMA Investing LLC now owns 850 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 549 shares during the last quarter. Principal Securities Inc. purchased a new stake in shares of Simply Good Foods in the 4th quarter valued at $36,000. TFO Wealth Partners LLC increased its stake in shares of Simply Good Foods by 59,100.0% in the fourth quarter. TFO Wealth Partners LLC now owns 1,184 shares of the financial services provider’s stock worth $47,000 after acquiring an additional 1,182 shares during the period. Innealta Capital LLC purchased a new position in shares of Simply Good Foods during the second quarter worth $71,000. Finally, Banque Cantonale Vaudoise acquired a new position in Simply Good Foods during the first quarter valued at $103,000. 88.45% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Simply Good Foods

In other news, SVP Stuart E. Jr. Heflin sold 1,058 shares of Simply Good Foods stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $34.44, for a total transaction of $36,437.52. Following the completion of the transaction, the senior vice president now owns 19,319 shares of the company’s stock, valued at approximately $665,346.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 10.98% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on SMPL shares. Deutsche Bank Aktiengesellschaft increased their target price on shares of Simply Good Foods from $36.00 to $37.00 and gave the stock a “hold” rating in a research note on Friday, June 14th. Stifel Nicolaus increased their target price on Simply Good Foods from $38.00 to $40.00 and gave the company a “buy” rating in a research report on Friday, June 14th. Needham & Company LLC restated a “buy” rating and set a $41.00 price objective on shares of Simply Good Foods in a research report on Friday, June 28th. Finally, DA Davidson lifted their target price on shares of Simply Good Foods from $35.00 to $38.00 and gave the company a “neutral” rating in a research report on Monday, July 1st. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $40.29.

Simply Good Foods Stock Performance

Shares of Simply Good Foods stock traded up $0.28 on Friday, hitting $31.59. The stock had a trading volume of 849,906 shares, compared to its average volume of 885,460. The company’s 50 day moving average price is $34.23 and its 200 day moving average price is $34.91. The stock has a market cap of $3.16 billion, a price-to-earnings ratio of 21.79, a P/E/G ratio of 2.25 and a beta of 0.61. The company has a current ratio of 5.19, a quick ratio of 4.05 and a debt-to-equity ratio of 0.14. The Simply Good Foods Company has a 52-week low of $30.00 and a 52-week high of $43.00.

Simply Good Foods (NASDAQ:SMPL) last posted its quarterly earnings data on Thursday, June 27th. The financial services provider reported $0.50 EPS for the quarter, beating analysts’ consensus estimates of $0.48 by $0.02. The company had revenue of $334.80 million for the quarter, compared to analyst estimates of $337.66 million. Simply Good Foods had a net margin of 11.49% and a return on equity of 10.28%. Simply Good Foods’s quarterly revenue was up 3.1% on a year-over-year basis. During the same period in the previous year, the business posted $0.40 earnings per share. On average, research analysts anticipate that The Simply Good Foods Company will post 1.69 EPS for the current year.

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.