AlphaQuest LLC Sells 26,029 Shares of The Simply Good Foods Company (NASDAQ:SMPL)

AlphaQuest LLC reduced its stake in The Simply Good Foods Company (NASDAQ:SMPL) by 63.1% during the fourth quarter, Holdings Channel.com reports. The fund owned 15,248 shares of the financial services provider’s stock after selling 26,029 shares during the quarter. AlphaQuest LLC’s holdings in Simply Good Foods were worth $594,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. R Squared Ltd bought a new position in Simply Good Foods in the 4th quarter worth about $26,000. Quarry LP grew its stake in Simply Good Foods by 64.7% in the 3rd quarter. Quarry LP now owns 1,357 shares of the financial services provider’s stock worth $47,000 after acquiring an additional 533 shares in the last quarter. Smartleaf Asset Management LLC grew its stake in Simply Good Foods by 255.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,710 shares of the financial services provider’s stock worth $66,000 after acquiring an additional 1,229 shares in the last quarter. GAMMA Investing LLC grew its stake in Simply Good Foods by 215.6% in the 4th quarter. GAMMA Investing LLC now owns 1,758 shares of the financial services provider’s stock worth $69,000 after acquiring an additional 1,201 shares in the last quarter. Finally, KBC Group NV grew its stake in Simply Good Foods by 31.9% in the 3rd quarter. KBC Group NV now owns 3,084 shares of the financial services provider’s stock worth $107,000 after acquiring an additional 746 shares in the last quarter. 88.45% of the stock is currently owned by institutional investors.

Simply Good Foods Price Performance

Shares of SMPL opened at $35.86 on Wednesday. The company has a 50 day moving average price of $36.86 and a 200-day moving average price of $36.13. The Simply Good Foods Company has a fifty-two week low of $30.00 and a fifty-two week high of $40.53. The stock has a market capitalization of $3.62 billion, a PE ratio of 25.43, a PEG ratio of 3.23 and a beta of 0.65. The company has a debt-to-equity ratio of 0.20, a quick ratio of 2.75 and a current ratio of 4.23.

Simply Good Foods (NASDAQ:SMPL) last posted its earnings results on Wednesday, January 8th. The financial services provider reported $0.49 EPS for the quarter, beating analysts’ consensus estimates of $0.43 by $0.06. Simply Good Foods had a net margin of 10.40% and a return on equity of 10.25%. The company had revenue of $341.30 million during the quarter, compared to analysts’ expectations of $347.32 million. During the same quarter in the prior year, the company posted $0.43 earnings per share. Simply Good Foods’s revenue for the quarter was up 10.6% compared to the same quarter last year. Equities analysts predict that The Simply Good Foods Company will post 1.78 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

SMPL has been the topic of a number of research analyst reports. Mizuho dropped their target price 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. Citigroup dropped their target price on shares of 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 issued a buy rating to the company’s stock. According to data from MarketBeat, Simply Good Foods has a consensus rating of “Moderate Buy” and an average price target of $40.22.

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.