Edgestream Partners L.P. Has $6.41 Million Stock Holdings in The Simply Good Foods Company $SMPL

Edgestream Partners L.P. grew its position in shares of The Simply Good Foods Company (NASDAQ:SMPL) by 158.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 446,670 shares of the financial services provider’s stock after buying an additional 273,953 shares during the period. Edgestream Partners L.P. owned approximately 0.49% of Simply Good Foods worth $6,410,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of SMPL. Royal Bank of Canada grew its stake in shares of Simply Good Foods by 9.0% in the first quarter. Royal Bank of Canada now owns 71,023 shares of the financial services provider’s stock valued at $2,448,000 after acquiring an additional 5,893 shares in the last quarter. AQR Capital Management LLC raised its stake in Simply Good Foods by 3.4% in the 1st quarter. AQR Capital Management LLC now owns 19,018 shares of the financial services provider’s stock worth $656,000 after purchasing an additional 617 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Simply Good Foods by 5.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 54,819 shares of the financial services provider’s stock valued at $1,891,000 after purchasing an additional 2,850 shares during the period. Caxton Associates LLP bought a new stake in Simply Good Foods in the 1st quarter valued at about $264,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of Simply Good Foods by 10.7% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 224,229 shares of the financial services provider’s stock worth $7,734,000 after purchasing an additional 21,696 shares in the last quarter. Institutional investors and hedge funds own 88.45% of the company’s stock.

Analysts Set New Price Targets

SMPL has been the subject of a number of analyst reports. Stephens reiterated an “equal weight” rating and issued a $14.00 price target (down from $24.00) on shares of Simply Good Foods in a research report on Friday, April 10th. Weiss Ratings reissued a “sell (d)” rating on shares of Simply Good Foods in a research report on Thursday, June 18th. Morgan Stanley lowered their price objective on Simply Good Foods from $24.00 to $14.00 and set an “equal weight” rating on the stock in a research note on Friday, April 10th. TD Cowen reaffirmed a “hold” rating on shares of Simply Good Foods in a report on Friday, July 10th. Finally, Zacks Research upgraded Simply Good Foods from a “strong sell” rating to a “hold” rating in a research report on Monday, June 8th. Three investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $15.20.

Insiders Place Their Bets

In related news, Director Clayton C. Daley, Jr. bought 10,000 shares of the business’s stock in a transaction on Thursday, May 14th. The shares were purchased at an average price of $11.78 per share, for a total transaction of $117,800.00. Following the completion of the transaction, the director directly owned 111,743 shares of the company’s stock, valued at approximately $1,316,332.54. This represents a 9.83% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. 8.76% of the stock is owned by corporate insiders.

Simply Good Foods Stock Up 1.3%

SMPL stock opened at $10.38 on Friday. The stock has a market capitalization of $918.23 million, a P/E ratio of -4.78 and a beta of 0.13. The company has a current ratio of 4.80, a quick ratio of 3.10 and a debt-to-equity ratio of 0.28. The Simply Good Foods Company has a 12 month low of $9.88 and a 12 month high of $31.05. The firm has a 50-day moving average price of $12.06 and a 200-day moving average price of $14.15.

Simply Good Foods (NASDAQ:SMPL) last posted its quarterly earnings results on Thursday, July 9th. The financial services provider reported $0.42 earnings per share for the quarter, beating analysts’ consensus estimates of $0.35 by $0.07. The company had revenue of $356.98 million for the quarter, compared to the consensus estimate of $332.99 million. Simply Good Foods had a negative net margin of 14.28% and a positive return on equity of 9.34%. The firm’s quarterly revenue was down 6.3% compared to the same quarter last year. During the same period last year, the company posted $0.51 EPS. As a group, equities research analysts anticipate that The Simply Good Foods Company will post 1.54 EPS for the current fiscal year.

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.