Magnetar Financial LLC Has $3.50 Million Stock Holdings in The Simply Good Foods Company $SMPL

Magnetar Financial LLC lifted its stake in The Simply Good Foods Company (NASDAQ:SMPL) by 134.0% during the third quarter, HoldingsChannel reports. The fund owned 141,076 shares of the financial services provider’s stock after purchasing an additional 80,795 shares during the quarter. Magnetar Financial LLC’s holdings in Simply Good Foods were worth $3,502,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Norges Bank bought a new position in shares of Simply Good Foods during the 2nd quarter valued at $36,419,000. Benchstone Capital Management LP acquired a new position in shares of Simply Good Foods during the 2nd quarter worth about $16,373,000. Boston Trust Walden Corp grew its holdings in Simply Good Foods by 16.0% in the 3rd quarter. Boston Trust Walden Corp now owns 3,520,960 shares of the financial services provider’s stock valued at $87,390,000 after buying an additional 486,837 shares during the last quarter. Scopus Asset Management L.P. bought a new position in Simply Good Foods in the 2nd quarter worth approximately $14,521,000. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Simply Good Foods by 8.8% during the third quarter. Dimensional Fund Advisors LP now owns 4,288,680 shares of the financial services provider’s stock worth $106,443,000 after buying an additional 346,395 shares during the last quarter. Institutional investors own 88.45% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. UBS Group restated a “neutral” rating on shares of Simply Good Foods in a research note on Friday, January 9th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $22.00 target price on shares of Simply Good Foods in a research note on Monday, December 15th. Mizuho set a $30.00 target price on Simply Good Foods in a research report on Thursday, January 15th. Weiss Ratings restated a “sell (d)” rating on shares of Simply Good Foods in a research note on Monday, December 29th. Finally, Zacks Research cut Simply Good Foods from a “strong-buy” rating to a “hold” rating in a report on Tuesday. Four research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $29.67.

Simply Good Foods Trading Down 1.2%

Shares of Simply Good Foods stock opened at $14.83 on Thursday. The stock has a market capitalization of $1.37 billion, a P/E ratio of 16.48, a price-to-earnings-growth ratio of 1.95 and a beta of 0.26. The company has a quick ratio of 3.24, a current ratio of 5.01 and a debt-to-equity ratio of 0.23. The company has a 50-day simple moving average of $18.14 and a 200 day simple moving average of $21.07. The Simply Good Foods Company has a 12-month low of $14.57 and a 12-month high of $38.15.

Simply Good Foods (NASDAQ:SMPL) last released its quarterly earnings results on Thursday, January 8th. The financial services provider reported $0.39 EPS for the quarter, beating analysts’ consensus estimates of $0.36 by $0.03. The firm had revenue of $340.20 million for the quarter, compared to analyst estimates of $337.64 million. Simply Good Foods had a net margin of 6.26% and a return on equity of 9.56%. The company’s revenue for the quarter was down .3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.49 earnings per share. Research analysts expect 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.