Quest Partners LLC lifted its position in The Simply Good Foods Company (NASDAQ:SMPL - Free Report) by 65.0% in the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 41,277 shares of the financial services provider's stock after acquiring an additional 16,268 shares during the period. Quest Partners LLC's holdings in Simply Good Foods were worth $1,435,000 as of its most recent SEC filing.
Several other institutional investors have also recently made changes to their positions in the company. Quarry LP bought a new position in Simply Good Foods during the 2nd quarter valued at approximately $30,000. GAMMA Investing LLC increased its position 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 buying an additional 549 shares in the last quarter. EverSource Wealth Advisors LLC increased its position in Simply Good Foods by 236.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,766 shares of the financial services provider's stock valued at $60,000 after buying an additional 1,241 shares in the last quarter. Innealta Capital LLC bought a new position in Simply Good Foods during the 2nd quarter valued at approximately $71,000. Finally, KBC Group NV increased its position in Simply Good Foods by 31.9% during the 3rd quarter. KBC Group NV now owns 3,084 shares of the financial services provider's stock valued at $107,000 after buying an additional 746 shares in the last quarter. Institutional investors own 88.45% of the company's stock.
Analysts Set New Price Targets
Several brokerages have commented on SMPL. Stephens cut their target price on Simply Good Foods from $44.00 to $42.00 and set an "overweight" rating on the stock in a research note on Wednesday, October 23rd. Citigroup cut their target price on Simply Good Foods from $46.00 to $43.00 and set a "buy" rating on the stock in a research note on Thursday, November 14th. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $40.78.
Check Out Our Latest Report on SMPL
Insider Buying and Selling at Simply Good Foods
In related news, Director Brian K. Ratzan sold 50,000 shares of Simply Good Foods stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $37.38, for a total value of $1,869,000.00. Following the completion of the transaction, the director now owns 2,049,387 shares in the company, valued at approximately $76,606,086.06. This trade represents a 2.38 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Timothy Richard Kraft sold 21,209 shares of Simply Good Foods stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $36.50, for a total value of $774,128.50. Following the completion of the transaction, the insider now owns 40,068 shares of the company's stock, valued at approximately $1,462,482. This represents a 34.61 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 327,869 shares of company stock valued at $12,139,570 over the last ninety days. 10.98% of the stock is currently owned by company insiders.
Simply Good Foods Stock Performance
Shares of SMPL stock traded up $1.14 on Wednesday, reaching $39.14. The stock had a trading volume of 2,183,955 shares, compared to its average volume of 890,678. The stock has a market cap of $3.92 billion, a P/E ratio of 27.77, a price-to-earnings-growth ratio of 3.25 and a beta of 0.64. The company has a debt-to-equity ratio of 0.23, a quick ratio of 2.75 and a current ratio of 4.05. The company has a 50 day simple moving average of $34.41 and a 200 day simple moving average of $34.96. The Simply Good Foods Company has a 1 year low of $30.00 and a 1 year high of $43.00.
Simply Good Foods (NASDAQ:SMPL - Get Free Report) last released its earnings results on Thursday, October 24th. The financial services provider reported $0.50 earnings per share for the quarter, meeting the consensus estimate of $0.50. The company had revenue of $375.70 million for the quarter, compared to the consensus estimate of $373.07 million. Simply Good Foods had a return on equity of 10.23% and a net margin of 10.46%. Simply Good Foods's quarterly revenue was up 17.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.41 earnings per share. Equities research analysts expect that The Simply Good Foods Company will post 1.76 EPS for the current year.
Simply Good Foods Profile
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Free Report)
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.
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