Savoir Faire Capital Management L.P. Acquires New Position in The Simply Good Foods Company (NASDAQ:SMPL)

Savoir Faire Capital Management L.P. acquired a new position in The Simply Good Foods Company (NASDAQ:SMPL - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 25,000 shares of the financial services provider's stock, valued at approximately $974,000.

A number of other hedge funds have also made changes to their positions in the business. LPL Financial LLC increased its holdings in Simply Good Foods by 3.3% in the 4th quarter. LPL Financial LLC now owns 9,890 shares of the financial services provider's stock valued at $386,000 after purchasing an additional 315 shares in the last quarter. Pictet Asset Management Holding SA boosted its position in shares of Simply Good Foods by 2.9% in the fourth quarter. Pictet Asset Management Holding SA now owns 11,338 shares of the financial services provider's stock worth $442,000 after buying an additional 324 shares during the period. CIBC Private Wealth Group LLC grew its stake in shares of Simply Good Foods by 72.4% in the fourth quarter. CIBC Private Wealth Group LLC now owns 1,060 shares of the financial services provider's stock valued at $38,000 after buying an additional 445 shares in the last quarter. Stifel Financial Corp raised its holdings in shares of Simply Good Foods by 1.9% during the 3rd quarter. Stifel Financial Corp now owns 26,688 shares of the financial services provider's stock valued at $928,000 after buying an additional 498 shares during the period. Finally, HighTower Advisors LLC lifted its position in Simply Good Foods by 3.9% during the 3rd quarter. HighTower Advisors LLC now owns 13,504 shares of the financial services provider's stock worth $473,000 after acquiring an additional 501 shares in the last quarter. Hedge funds and other institutional investors own 88.45% of the company's stock.

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Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Mizuho dropped their price objective on shares of Simply Good Foods from $48.00 to $45.00 and set an "outperform" rating on the stock in a research note on Friday, January 10th. Morgan Stanley assumed coverage on shares of Simply Good Foods in a research note on Monday, March 24th. They set an "equal weight" rating and a $36.00 price target on the stock. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, Simply Good Foods currently has a consensus rating of "Moderate Buy" and an average price target of $39.56.

Simply Good Foods Stock Up 9.6 %

Shares of SMPL traded up $3.17 during midday trading on Wednesday, hitting $36.36. The company had a trading volume of 1,047,383 shares, compared to its average volume of 910,387. The stock has a market cap of $3.67 billion, a price-to-earnings ratio of 25.75, a PEG ratio of 3.23 and a beta of 0.63. The company's 50 day moving average price is $35.82 and its 200 day moving average price is $36.26. The company has a quick ratio of 2.75, a current ratio of 4.23 and a debt-to-equity ratio of 0.20. The Simply Good Foods Company has a 52 week low of $31.25 and a 52 week high of $40.53.

Simply Good Foods (NASDAQ:SMPL - Get Free Report) last announced its quarterly earnings data on Wednesday, April 9th. The financial services provider reported $0.46 earnings per share for the quarter, beating the consensus estimate of $0.40 by $0.06. Simply Good Foods had a return on equity of 10.25% and a net margin of 10.40%. The firm had revenue of $359.70 million during the quarter, compared to analyst estimates of $354.50 million. During the same period in the previous year, the company earned $0.40 earnings per share. Simply Good Foods's quarterly revenue was up 15.2% on a year-over-year basis. On average, equities research analysts predict that The Simply Good Foods Company will post 1.78 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.