Edgestream Partners L.P. Purchases 273,953 Shares of The Simply Good Foods Company $SMPL

Edgestream Partners L.P. increased its position in The Simply Good Foods Company (NASDAQ:SMPL) by 158.6% in the 1st quarter, according to its most recent disclosure 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 quarter. Edgestream Partners L.P.’s holdings in Simply Good Foods were worth $6,410,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in the business. Oaktree Capital Management LP bought a new position in Simply Good Foods in the 1st quarter valued at approximately $16,200,000. Amundi grew its holdings in Simply Good Foods by 135.7% during the 1st quarter. Amundi now owns 42,419 shares of the financial services provider’s stock worth $609,000 after acquiring an additional 24,419 shares during the last quarter. EverSource Wealth Advisors LLC grew its holdings in Simply Good Foods by 244.3% during the 1st quarter. EverSource Wealth Advisors LLC now owns 2,995 shares of the financial services provider’s stock worth $43,000 after acquiring an additional 2,125 shares during the last quarter. California State Teachers Retirement System increased its position in Simply Good Foods by 32.3% in the 1st quarter. California State Teachers Retirement System now owns 116,880 shares of the financial services provider’s stock valued at $1,677,000 after acquiring an additional 28,548 shares during the period. Finally, Royal Bank of Canada increased its position in Simply Good Foods by 33.9% in the 1st quarter. Royal Bank of Canada now owns 43,357 shares of the financial services provider’s stock valued at $623,000 after acquiring an additional 10,982 shares during the period. Institutional investors own 88.45% of the company’s stock.

Insiders Place Their Bets

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

Simply Good Foods Stock Performance

NASDAQ:SMPL opened at $10.38 on Friday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 3.10 and a current ratio of 4.80. The Simply Good Foods Company has a fifty-two week low of $9.88 and a fifty-two week high of $31.05. The company has a 50 day simple moving average of $12.06 and a two-hundred day simple moving average of $14.15. The company has a market capitalization of $918.23 million, a PE ratio of -4.78 and a beta of 0.13.

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

Wall Street Analyst Weigh In

A number of brokerages have recently commented on SMPL. Zacks Research upgraded shares of Simply Good Foods from a “strong sell” rating to a “hold” rating in a report on Monday, June 8th. Stephens restated an “equal weight” rating and issued a $14.00 price objective (down from $24.00) on shares of Simply Good Foods in a report on Friday, April 10th. Weiss Ratings restated a “sell (d)” rating on shares of Simply Good Foods in a report on Thursday, June 18th. BTIG Research began coverage on Simply Good Foods in a research report on Monday, April 13th. They set a “neutral” rating for the company. Finally, Jefferies Financial Group set a $17.00 target price on Simply Good Foods in a report on Tuesday, June 30th. Three analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $15.20.

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.