On June 6, 2023, UBS Group AG announced that it increased its stake in The Simply Good Foods Company by a staggering 85.0% during the fourth quarter of the previous year. According to the company’s latest Form 13F filing with the SEC, UBS Group AG owned approximately 0.05% of Simply Good Foods’ shares worth $1,921,000 at the end of the most recent quarter.
The Simply Good Foods Co is a consumer packaged food and beverage company that specializes in developing, marketing, and selling nutritional food and snacking products, including nutrition bars, ready-to-drink shakes, snacks, confectionery products, and frozen meals under the Atkins and Quest brands. The company has received several positive ratings from different brokerages; Stephens raised its price objective on shares of Simply Good Foods from $40.00 to $43.00 and gave the stock an “overweight” rating in a report on March 29th due to potential growth opportunities presented by their various brand lines.
Furthermore, Needham & Company LLC reaffirmed a “buy” rating on shares of Simply Good Foods with a target price of $42.00 per share in April 2023. Deutsche Bank Aktiengesellschaft later approved their stand-offish predictions by decreasing their target price for SMPL shares from $43 to $42 recently after several mixed reviews surrounding its stock performance.
Stifel Nicolaus also began coverage on shares of Simply Good Foods in April last year and gave them a buy rating as well as setting a target price for SMPL at $41.00. Finally, UBS Group acknowledged several speculations about Simply Goods Food lower than expected performance by reducing their price objective on shares of Simply Good Foods from $45.00 to $43 last April but expressed confidence in recommending buying instead selling orders for this organization.
In conclusion, despite some conflicting reviews regarding the financial status of Simply Good Foods, there is a growing consensus among market analysts that this company’s shares are worth purchasing with moderate buy ratings and an average target price of $42.00. With the increased stake taken by UBS Group AG, it would be interesting to watch this company’s performance in the food and beverage industry over the next couple of years.
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Simply Good Foods Co. Sees Major Institutional Investor Moves, Insider Sales Raise Questions
Simply Good Foods Co. has been making major moves in the financial world recently, with several institutional investors adjusting their stakes in the company. Premier Fund Managers Ltd is among those who made a significant increase during Q4 2022, raising their holdings by 57.1% and owning a total of now 77,697 shares worth $3,452,000. This was followed by Swiss National Bank, which increased its stake by 1.8%, owning 206,000 shares with a value of $7,834,000. All these maneuvers follow Dakota Wealth Management’s acquisition of new shares from Simply Good Foods amounting to around $239,000 in Q4 2022.
Arizona State Retirement System also showed confidence in the company as they elevated holdings by 3.8% during Q4 of the previous year and epitomizes one of the most significant institutional investors’ fair share in Simply Good Foods at an estimated 84.76%. Consumer-packaged goods company Simply Good Foods created a wide range of products that includes nutrition bars as well as frozen meals under brands Atkins and Quests.
The firm did face some shakeup recently when insiders Jerry Scott Ivie and Timothy Allen Matthews sold companies shares totaling $104,338.08 and $662,424 respectively earlier this year in April and May correspondingly. In such instances where insiders sell down or up equity linked to their business venture’s success often leads to mixed opinions worldwide on corporates internal operations.
Given all these features associated with Smart Good Food Co.’s stock movement so far this year alone coupled with consistent high earnings per share (EPS), the business received approximately $0.29 per share for first-quarter earnings back in May compared to analyst projections that were averaging at around $0.28 per share over this period accompanied by revenue intake surpassing what analysts projected too; despite this good momentum garnered throughout there are still unknown cylical and market trends that could impact on Simply Good Foods overall performance forecast in the long run. With more updates expected soon, it will be intriguing to learn about whether these stakeholders’ bold moves would enhance or hinder the future direction of Simply Good food Co. going forward after Q2 2023 advancements come to fruition in upcoming months.