Prospector Partners LLC Has $8.29 Million Stake in The Simply Good Foods Company $SMPL

Prospector Partners LLC reduced its position in shares of The Simply Good Foods Company (NASDAQ:SMPL) by 24.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 333,818 shares of the financial services provider’s stock after selling 109,638 shares during the quarter. Prospector Partners LLC’s holdings in Simply Good Foods were worth $8,285,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Y Intercept Hong Kong Ltd purchased a new stake in Simply Good Foods in the 2nd quarter worth approximately $612,000. Econ Financial Services Corp acquired a new position in shares of Simply Good Foods in the second quarter worth $830,000. Thornburg Investment Management Inc. acquired a new stake in Simply Good Foods during the second quarter valued at $8,238,000. Savoir Faire Capital Management L.P. grew its stake in Simply Good Foods by 96.8% in the third quarter. Savoir Faire Capital Management L.P. now owns 145,956 shares of the financial services provider’s stock valued at $3,623,000 after purchasing an additional 71,773 shares in the last quarter. Finally, Norges Bank bought a new stake in shares of Simply Good Foods in the 2nd quarter valued at approximately $36,419,000. Institutional investors and hedge funds own 88.45% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. Sanford C. Bernstein reiterated an “outperform” rating on shares of Simply Good Foods in a research note on Friday, January 9th. Jefferies Financial Group reduced their target price on shares of Simply Good Foods from $32.00 to $27.00 and set a “hold” rating for the company in a research note on Wednesday, October 22nd. Zacks Research upgraded Simply Good Foods from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 26th. UBS Group reaffirmed a “neutral” rating on shares of Simply Good Foods in a research report on Friday, January 9th. Finally, Stifel Nicolaus set a $32.00 price target on shares of Simply Good Foods in a research note on Friday, October 24th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $29.67.

Simply Good Foods Stock Up 3.9%

Shares of NASDAQ:SMPL opened at $16.12 on Thursday. The company’s fifty day moving average is $19.10 and its 200-day moving average is $22.43. The company has a debt-to-equity ratio of 0.23, a quick ratio of 3.24 and a current ratio of 5.01. The Simply Good Foods Company has a 52 week low of $15.30 and a 52 week high of $38.16. The company has a market capitalization of $1.49 billion, a PE ratio of 17.91, a P/E/G ratio of 2.02 and a beta of 0.25.

Simply Good Foods (NASDAQ:SMPL) last announced its quarterly earnings results on Thursday, January 8th. The financial services provider reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.03. The firm had revenue of $340.20 million during the quarter, compared to the consensus estimate of $337.64 million. Simply Good Foods had a net margin of 6.26% and a return on equity of 9.56%. The firm’s quarterly revenue was down .3% on a year-over-year basis. During the same period last year, the firm posted $0.49 EPS. Equities research analysts predict that The Simply Good Foods Company will post 1.78 earnings per share for the current fiscal year.

Simply Good Foods 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.