Waratah Capital Advisors Ltd. bought a new stake in Simply Good Foods Co (NASDAQ:SMPL) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 367,401 shares of the financial services provider’s stock, valued at approximately $7,146,000.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Janus Henderson Group PLC lifted its stake in Simply Good Foods by 16.4% in the 2nd quarter. Janus Henderson Group PLC now owns 4,415,752 shares of the financial services provider’s stock valued at $63,763,000 after acquiring an additional 621,417 shares in the last quarter. BlackRock Inc. lifted its stake in Simply Good Foods by 282.2% in the 2nd quarter. BlackRock Inc. now owns 3,899,264 shares of the financial services provider’s stock valued at $56,305,000 after acquiring an additional 2,879,079 shares in the last quarter. Emerald Advisers Inc. PA bought a new stake in Simply Good Foods in the 2nd quarter valued at approximately $13,743,000. Eagle Asset Management Inc. bought a new stake in Simply Good Foods in the 2nd quarter valued at approximately $13,246,000. Finally, Emerald Mutual Fund Advisers Trust bought a new stake in Simply Good Foods in the 2nd quarter valued at approximately $11,101,000. Hedge funds and other institutional investors own 91.85% of the company’s stock.
Several equities research analysts have commented on the company. Zacks Investment Research upgraded Simply Good Foods from a “sell” rating to a “hold” rating in a research note on Friday. Buckingham Research assumed coverage on Simply Good Foods in a research note on Wednesday, October 17th. They issued a “buy” rating and a $22.00 target price on the stock. Stifel Nicolaus boosted their target price on Simply Good Foods from $16.00 to $18.00 and gave the company a “buy” rating in a research note on Wednesday, July 11th. SunTrust Banks boosted their target price on Simply Good Foods to $20.00 and gave the company a “buy” rating in a research note on Wednesday, July 11th. Finally, Consumer Edge assumed coverage on Simply Good Foods in a research note on Monday, July 2nd. They issued an “outperform” rating on the stock. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $18.33.
Simply Good Foods (NASDAQ:SMPL) last announced its quarterly earnings data on Wednesday, October 24th. The financial services provider reported $0.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.13 by $0.02. Simply Good Foods had a return on equity of 2.44% and a net margin of 10.02%. The company had revenue of $108.30 million for the quarter, compared to analysts’ expectations of $111.25 million. During the same quarter in the prior year, the business posted $0.11 EPS. The business’s revenue was up 11.0% compared to the same quarter last year. On average, equities research analysts expect that Simply Good Foods Co will post 0.55 EPS for the current year.
About Simply Good Foods
The Simply Good Foods Company develops, markets, and sells branded nutritional foods and snack products in North America and internationally. The company markets nutrition bars, ready-to-drink shakes, snacks, and confectionery products under the Atkins, SimplyProtein, Atkins Endulge, and Atkins Harvest Trail brand names.
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