Handelsbanken Fonder AB reduced its position in shares of The Simply Good Foods Company (NASDAQ:SMPL – Free Report) by 95.9% in the fourth quarter, Holdings Channel reports. The firm owned 41,000 shares of the financial services provider’s stock after selling 957,200 shares during the period. Handelsbanken Fonder AB’s holdings in Simply Good Foods were worth $823,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently made changes to their positions in SMPL. Marshall Wace LLP purchased a new position in shares of Simply Good Foods during the 3rd quarter valued at $31,825,000. Millennium Management LLC lifted its holdings in shares of Simply Good Foods by 482.7% during the 3rd quarter. Millennium Management LLC now owns 1,246,236 shares of the financial services provider’s stock worth $30,932,000 after acquiring an additional 1,032,358 shares during the last quarter. Voloridge Investment Management LLC lifted its holdings in shares of Simply Good Foods by 781.1% during the 3rd quarter. Voloridge Investment Management LLC now owns 902,397 shares of the financial services provider’s stock worth $22,397,000 after acquiring an additional 799,983 shares during the last quarter. Qube Research & Technologies Ltd lifted its holdings in shares of Simply Good Foods by 119.5% during the 3rd quarter. Qube Research & Technologies Ltd now owns 1,313,726 shares of the financial services provider’s stock worth $32,607,000 after acquiring an additional 715,110 shares during the last quarter. Finally, Shapiro Capital Management LLC bought a new stake in shares of Simply Good Foods during the 3rd quarter worth $17,175,000. 88.45% of the stock is currently owned by hedge funds and other institutional investors.
Insider Activity
In related news, Director James M. Kilts purchased 80,000 shares of Simply Good Foods stock in a transaction that occurred on Thursday, April 23rd. The shares were bought at an average price of $12.39 per share, for a total transaction of $991,200.00. Following the completion of the transaction, the director directly owned 172,854 shares of the company’s stock, valued at $2,141,661.06. This represents a 86.16% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Clayton C. Daley, Jr. purchased 10,000 shares of Simply Good Foods stock in a transaction that occurred on Thursday, May 14th. The shares were bought at an average price of $11.78 per share, for a total transaction of $117,800.00. Following the transaction, the director directly owned 111,743 shares of the company’s stock, valued at $1,316,332.54. This trade represents a 9.83% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 8.76% of the stock is owned by insiders.
Simply Good Foods Price Performance
Simply Good Foods (NASDAQ:SMPL – Get Free Report) last announced its quarterly earnings results on Thursday, April 9th. The financial services provider reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.40 by $0.05. Simply Good Foods had a negative net margin of 7.46% and a positive return on equity of 9.72%. The company had revenue of $326.01 million for the quarter, compared to analysts’ expectations of $345.08 million. During the same quarter in the previous year, the company earned $0.46 earnings per share. Simply Good Foods’s quarterly revenue was down 9.4% on a year-over-year basis. As a group, equities analysts predict that The Simply Good Foods Company will post 1.54 earnings per share for the current year.
Wall Street Analysts Forecast Growth
A number of analysts have recently issued reports on the stock. BTIG Research assumed coverage on shares of Simply Good Foods in a report on Monday, April 13th. They set a “neutral” rating for the company. Mizuho set a $19.00 price objective on shares of Simply Good Foods in a report on Monday, May 4th. DA Davidson reaffirmed a “neutral” rating and set a $39.00 price objective on shares of Simply Good Foods in a report on Friday, April 10th. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Simply Good Foods from $16.00 to $13.00 and set a “hold” rating for the company in a report on Friday, April 10th. Finally, Morgan Stanley lowered their price target on shares of Simply Good Foods from $24.00 to $14.00 and set an “equal weight” rating for the company in a research note on Friday, April 10th. Five equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $21.64.
Check Out Our Latest Stock Analysis on SMPL
Simply Good Foods Company Profile
Simply Good Foods Co (NASDAQ: SMPL) is a North American consumer packaged foods company specializing in better-for-you nutrition products. The company’s portfolio centers on two well-established brands, Atkins and Quest, which offer a range of low-carbohydrate, high-protein bars, powders, shakes, and snacks. Simply Good Foods aims to support consumers’ health and wellness goals by delivering convenient, nutrient-dense options without added sugars or artificial sweeteners.
Under the Atkins brand, the company produces meal replacements, snack bars, and ready-to-drink shakes designed for low-carb dieters.
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