The Simply Good Foods Company (NASDAQ:SMPL) Shares Bought by Townsquare Capital LLC

Townsquare Capital LLC increased its stake in The Simply Good Foods Company (NASDAQ:SMPL) by 13.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 67,893 shares of the financial services provider’s stock after buying an additional 7,996 shares during the quarter. Townsquare Capital LLC owned about 0.07% of Simply Good Foods worth $2,646,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of the stock. Covestor Ltd grew its position in Simply Good Foods by 45.2% in the fourth quarter. Covestor Ltd now owns 4,869 shares of the financial services provider’s stock valued at $190,000 after acquiring an additional 1,515 shares in the last quarter. Raymond James Financial Inc. purchased a new position in shares of Simply Good Foods in the fourth quarter valued at $1,863,000. Renaissance Group LLC grew its holdings in Simply Good Foods by 11.9% during the 4th quarter. Renaissance Group LLC now owns 78,023 shares of the financial services provider’s stock valued at $3,041,000 after purchasing an additional 8,303 shares in the last quarter. Invesco Ltd. increased its stake in Simply Good Foods by 2.9% during the 4th quarter. Invesco Ltd. now owns 402,372 shares of the financial services provider’s stock worth $15,684,000 after buying an additional 11,197 shares during the period. Finally, Bank of Montreal Can increased its stake in Simply Good Foods by 13.6% during the 4th quarter. Bank of Montreal Can now owns 11,272 shares of the financial services provider’s stock worth $439,000 after buying an additional 1,349 shares during the period. 88.45% of the stock is currently owned by hedge funds and other institutional investors.

Simply Good Foods Stock Up 0.3 %

Shares of Simply Good Foods stock opened at $37.69 on Wednesday. The stock has a market capitalization of $3.81 billion, a price-to-earnings ratio of 26.73, a PEG ratio of 3.23 and a beta of 0.63. The Simply Good Foods Company has a twelve month low of $31.25 and a twelve month high of $40.53. The company has a current ratio of 4.23, a quick ratio of 2.75 and a debt-to-equity ratio of 0.20. The business’s 50 day simple moving average is $35.77 and its 200-day simple moving average is $36.35.

Simply Good Foods (NASDAQ:SMPL) last issued its earnings results on Wednesday, April 9th. The financial services provider reported $0.46 earnings per share for the quarter, topping the consensus estimate of $0.40 by $0.06. The firm had revenue of $359.70 million for the quarter, compared to analyst estimates of $354.50 million. Simply Good Foods had a return on equity of 10.25% and a net margin of 10.40%. The firm’s revenue for the quarter was up 15.2% on a year-over-year basis. During the same period last year, the company earned $0.40 earnings per share. Equities research analysts forecast that The Simply Good Foods Company will post 1.78 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. Morgan Stanley raised their target price on Simply Good Foods from $36.00 to $37.00 and gave the company an “equal weight” rating in a research note on Thursday, April 10th. DA Davidson raised their price objective on Simply Good Foods from $35.00 to $41.00 and gave the company a “neutral” rating in a research note on Friday, April 11th. Finally, Mizuho upped their target price on Simply Good Foods from $45.00 to $47.00 and gave the company an “outperform” rating in a research report on Friday, April 11th. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Simply Good Foods has a consensus rating of “Moderate Buy” and a consensus price target of $40.22.

Insiders Place Their Bets

In other news, SVP Stuart E. Jr. Heflin sold 5,000 shares of Simply Good Foods stock in a transaction that occurred on Friday, April 11th. The stock was sold at an average price of $37.25, for a total transaction of $186,250.00. Following the sale, the senior vice president now owns 12,839 shares of the company’s stock, valued at approximately $478,252.75. The trade was a 28.03 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 9.35% of the stock is 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.