Quest Partners LLC Acquires 2,019 Shares of The Simply Good Foods Company (NASDAQ:SMPL)

Quest Partners LLC boosted its holdings in The Simply Good Foods Company (NASDAQ:SMPL) by 8.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 25,009 shares of the financial services provider’s stock after acquiring an additional 2,019 shares during the quarter. Quest Partners LLC’s holdings in Simply Good Foods were worth $904,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. GAMMA Investing LLC increased its stake in Simply Good Foods by 182.4% in the second quarter. GAMMA Investing LLC now owns 850 shares of the financial services provider’s stock valued at $31,000 after acquiring an additional 549 shares during the period. Principal Securities Inc. bought a new stake in Simply Good Foods in the fourth quarter valued at about $36,000. TFO Wealth Partners LLC increased its stake in Simply Good Foods by 59,100.0% in the fourth quarter. TFO Wealth Partners LLC now owns 1,184 shares of the financial services provider’s stock valued at $47,000 after acquiring an additional 1,182 shares during the period. Innealta Capital LLC bought a new stake in Simply Good Foods in the second quarter valued at about $71,000. Finally, Banque Cantonale Vaudoise bought a new stake in Simply Good Foods in the first quarter valued at about $103,000. Institutional investors own 88.45% of the company’s stock.

Insider Activity at Simply Good Foods

In related news, SVP Stuart E. Jr. Heflin sold 1,058 shares of the stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $34.44, for a total value of $36,437.52. Following the transaction, the senior vice president now directly owns 19,319 shares in the company, valued at $665,346.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 10.98% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several analysts have weighed in on the stock. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Simply Good Foods from $36.00 to $37.00 and gave the stock a “hold” rating in a research note on Friday, June 14th. Stifel Nicolaus upped their price objective on shares of Simply Good Foods from $38.00 to $40.00 and gave the stock a “buy” rating in a research note on Friday, June 14th. Needham & Company LLC reaffirmed a “buy” rating and set a $41.00 price objective on shares of Simply Good Foods in a research note on Friday, June 28th. Finally, DA Davidson upped their price objective on shares of Simply Good Foods from $35.00 to $38.00 and gave the stock a “neutral” rating in a research note on Monday, July 1st. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $40.29.

Simply Good Foods Price Performance

Shares of SMPL stock opened at $33.53 on Wednesday. The Simply Good Foods Company has a 1 year low of $30.00 and a 1 year high of $43.00. The firm’s 50 day moving average is $33.77 and its 200-day moving average is $34.77. The firm has a market capitalization of $3.36 billion, a price-to-earnings ratio of 23.12, a PEG ratio of 2.17 and a beta of 0.63. The company has a current ratio of 5.19, a quick ratio of 4.05 and a debt-to-equity ratio of 0.14.

Simply Good Foods (NASDAQ:SMPL) last announced its earnings results on Thursday, June 27th. The financial services provider reported $0.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.48 by $0.02. Simply Good Foods had a net margin of 11.49% and a return on equity of 10.28%. The company had revenue of $334.80 million for the quarter, compared to analyst estimates of $337.66 million. During the same period in the prior year, the business earned $0.40 earnings per share. Simply Good Foods’s quarterly revenue was up 3.1% on a year-over-year basis. Sell-side analysts forecast that The Simply Good Foods Company will post 1.69 EPS for the current fiscal year.

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.