Quarry LP Raises Holdings in The Simply Good Foods Company (NASDAQ:SMPL)

Quarry LP increased its position in shares of The Simply Good Foods Company (NASDAQ:SMPL) by 64.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,357 shares of the financial services provider’s stock after buying an additional 533 shares during the period. Quarry LP’s holdings in Simply Good Foods were worth $47,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. EverSource Wealth Advisors LLC raised its holdings in shares of Simply Good Foods by 236.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,766 shares of the financial services provider’s stock valued at $60,000 after purchasing an additional 1,241 shares in the last quarter. Innealta Capital LLC purchased a new position in Simply Good Foods during the second quarter valued at approximately $71,000. KBC Group NV raised its stake in Simply Good Foods by 31.9% in the third quarter. KBC Group NV now owns 3,084 shares of the financial services provider’s stock worth $107,000 after buying an additional 746 shares in the last quarter. Canada Pension Plan Investment Board bought a new stake in Simply Good Foods during the 2nd quarter valued at $159,000. Finally, Mackenzie Financial Corp bought a new stake in Simply Good Foods during the 2nd quarter valued at $201,000. 88.45% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Mizuho boosted their price target on Simply Good Foods from $40.00 to $45.00 and gave the stock an “outperform” rating in a research report on Monday. Citigroup decreased their price target on shares of Simply Good Foods from $46.00 to $43.00 and set a “buy” rating for the company in a research report on Thursday, November 14th. Finally, Stephens lowered their price target on shares of Simply Good Foods from $44.00 to $42.00 and set an “overweight” rating on the stock in a report on Wednesday, October 23rd. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $40.22.

Simply Good Foods Stock Down 0.8 %

NASDAQ:SMPL opened at $39.55 on Wednesday. The company has a market cap of $3.96 billion, a PE ratio of 28.66, a P/E/G ratio of 3.46 and a beta of 0.67. The company has a current ratio of 4.05, a quick ratio of 2.75 and a debt-to-equity ratio of 0.23. The company’s 50 day moving average is $36.05 and its two-hundred day moving average is $35.18. The Simply Good Foods Company has a twelve month low of $30.00 and a twelve month high of $43.00.

Simply Good Foods (NASDAQ:SMPL) last posted its quarterly earnings results on Thursday, October 24th. The financial services provider reported $0.50 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.50. Simply Good Foods had a net margin of 10.46% and a return on equity of 10.23%. The company had revenue of $375.70 million during the quarter, compared to analyst estimates of $373.07 million. During the same period last year, the firm posted $0.41 EPS. Simply Good Foods’s revenue for the quarter was up 17.3% compared to the same quarter last year. Analysts anticipate that The Simply Good Foods Company will post 1.76 EPS for the current year.

Insider Transactions at Simply Good Foods

In other Simply Good Foods news, insider Timothy Richard Kraft sold 76,761 shares of the company’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $37.60, for a total value of $2,886,213.60. Following the completion of the transaction, the insider now owns 40,068 shares in the company, valued at approximately $1,506,556.80. This represents a 65.70 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Joseph Scalzo sold 25,000 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $35.99, for a total value of $899,750.00. Following the sale, the director now owns 139,204 shares in the company, valued at $5,009,951.96. This trade represents a 15.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 327,869 shares of company stock worth $12,139,570 over the last quarter. 10.98% of the stock is currently owned by insiders.

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.