MQS Management LLC Acquires New Shares in The Simply Good Foods Company (NASDAQ:SMPL)

MQS Management LLC bought a new position in The Simply Good Foods Company (NASDAQ:SMPL) during the 1st quarter, Holdings Channel.com reports. The institutional investor bought 7,382 shares of the financial services provider’s stock, valued at approximately $255,000.

Other hedge funds also recently added to or reduced their stakes in the company. Wells Fargo & Company MN lifted its position in Simply Good Foods by 50.2% in the 4th quarter. Wells Fargo & Company MN now owns 45,685 shares of the financial services provider’s stock valued at $1,781,000 after purchasing an additional 15,275 shares during the last quarter. Wealth Enhancement Advisory Services LLC acquired a new stake in shares of Simply Good Foods in the fourth quarter valued at approximately $206,000. Assenagon Asset Management S.A. acquired a new position in shares of Simply Good Foods during the first quarter worth approximately $1,437,000. SG Americas Securities LLC bought a new position in Simply Good Foods in the 1st quarter worth approximately $712,000. Finally, Rhumbline Advisers grew its holdings in Simply Good Foods by 0.8% in the 1st quarter. Rhumbline Advisers now owns 255,703 shares of the financial services provider’s stock worth $8,819,000 after buying an additional 1,904 shares in the last quarter. 88.45% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages have weighed in on SMPL. Sanford C. Bernstein set a $45.00 target price on Simply Good Foods and gave the company an “outperform” rating in a research note on Friday. Wall Street Zen downgraded shares of Simply Good Foods from a “buy” rating to a “hold” rating in a report on Saturday, June 21st. DA Davidson decreased their target price on shares of Simply Good Foods from $42.00 to $38.00 and set a “neutral” rating for the company in a research report on Monday, June 9th. Mizuho raised their target price on shares of Simply Good Foods from $45.00 to $47.00 and gave the company an “outperform” rating in a research note on Friday, April 11th. Finally, Stifel Nicolaus reduced their price target on shares of Simply Good Foods from $40.00 to $38.00 and set a “buy” rating for the company in a research note on Friday, June 27th. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $40.38.

Simply Good Foods Price Performance

NASDAQ:SMPL opened at $34.05 on Tuesday. The company has a quick ratio of 2.46, a current ratio of 3.95 and a debt-to-equity ratio of 0.14. The business’s 50-day moving average price is $33.79 and its 200 day moving average price is $35.34. The Simply Good Foods Company has a 52-week low of $30.47 and a 52-week high of $40.53. The firm has a market cap of $3.42 billion, a P/E ratio of 23.81, a PEG ratio of 3.01 and a beta of 0.68.

Simply Good Foods (NASDAQ:SMPL) last posted its quarterly earnings data on Thursday, July 10th. The financial services provider reported $0.51 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.01. Simply Good Foods had a net margin of 9.97% and a return on equity of 10.29%. The company had revenue of $380,956 billion during the quarter, compared to analyst estimates of $381.68 million. During the same quarter last year, the firm posted $0.50 EPS. The business’s revenue for the quarter was up 13.8% on a year-over-year basis. As a group, sell-side analysts predict that The Simply Good Foods Company will post 1.78 earnings per share for the current fiscal year.

About Simply Good Foods

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.