Cornercap Investment Counsel Inc. Invests $608,000 in The Simply Good Foods Company (NASDAQ:SMPL)

Cornercap Investment Counsel Inc. bought a new stake in shares of The Simply Good Foods Company (NASDAQ:SMPL) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 16,838 shares of the financial services provider’s stock, valued at approximately $608,000.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. American Century Companies Inc. lifted its position in Simply Good Foods by 1.8% in the second quarter. American Century Companies Inc. now owns 19,943 shares of the financial services provider’s stock valued at $721,000 after purchasing an additional 348 shares during the last quarter. Van Hulzen Asset Management LLC increased its stake in shares of Simply Good Foods by 7.6% in the second quarter. Van Hulzen Asset Management LLC now owns 31,182 shares of the financial services provider’s stock worth $1,127,000 after buying an additional 2,208 shares during the period. Quest Partners LLC raised its holdings in Simply Good Foods by 8.8% during the 2nd quarter. Quest Partners LLC now owns 25,009 shares of the financial services provider’s stock valued at $904,000 after buying an additional 2,019 shares during the last quarter. Norden Group LLC boosted its position in Simply Good Foods by 19.8% during the 2nd quarter. Norden Group LLC now owns 16,762 shares of the financial services provider’s stock valued at $606,000 after buying an additional 2,768 shares during the period. Finally, Arizona State Retirement System grew its holdings in Simply Good Foods by 2.0% in the 2nd quarter. Arizona State Retirement System now owns 26,592 shares of the financial services provider’s stock worth $961,000 after acquiring an additional 533 shares during the last quarter. 88.45% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

SMPL has been the subject of several recent analyst reports. Needham & Company LLC reaffirmed a “buy” rating and set a $41.00 price objective on shares of Simply Good Foods in a research note on Friday, June 28th. Deutsche Bank Aktiengesellschaft increased their price objective on Simply Good Foods from $36.00 to $37.00 and gave the stock a “hold” rating in a report on Friday, June 14th. DA Davidson boosted their target price on Simply Good Foods from $35.00 to $38.00 and gave the company a “neutral” rating in a research note on Monday, July 1st. Finally, Stifel Nicolaus raised their price target on Simply Good Foods from $38.00 to $40.00 and gave the stock a “buy” rating in a research note on Friday, June 14th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $40.29.

Insider Buying and Selling

In related news, SVP Stuart E. Jr. Heflin sold 1,058 shares of the business’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $34.44, for a total transaction of $36,437.52. Following the sale, the senior vice president now owns 19,319 shares of the company’s stock, valued at $665,346.36. 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 owned by company insiders.

Simply Good Foods Stock Up 2.3 %

SMPL stock opened at $34.15 on Friday. The Simply Good Foods Company has a fifty-two week low of $30.00 and a fifty-two week high of $43.00. The company has a market capitalization of $3.42 billion, a price-to-earnings ratio of 23.55, a price-to-earnings-growth ratio of 2.21 and a beta of 0.62. The business’s 50 day moving average price is $33.62 and its two-hundred day moving average price is $34.74. The company has a debt-to-equity ratio of 0.14, a quick ratio of 4.05 and a current ratio of 5.19.

Simply Good Foods (NASDAQ:SMPL) last issued its quarterly earnings results on Thursday, June 27th. The financial services provider reported $0.50 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.02. The company had revenue of $334.80 million for the quarter, compared to analysts’ expectations of $337.66 million. Simply Good Foods had a return on equity of 10.28% and a net margin of 11.49%. The firm’s revenue for the quarter was up 3.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.40 earnings per share. As a group, analysts forecast that The Simply Good Foods Company will post 1.69 earnings per share for the current fiscal year.

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.