The Simply Good Foods Company (NASDAQ:SMPL) Shares Bought by Balyasny Asset Management L.P.

Balyasny Asset Management L.P. increased its holdings in The Simply Good Foods Company (NASDAQ:SMPL - Free Report) by 3,306.7% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 460,827 shares of the financial services provider's stock after buying an additional 447,300 shares during the period. Balyasny Asset Management L.P. owned 0.46% of Simply Good Foods worth $17,963,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. Quadrant Capital Group LLC boosted its position in shares of Simply Good Foods by 13.5% in the 4th quarter. Quadrant Capital Group LLC now owns 2,517 shares of the financial services provider's stock worth $98,000 after purchasing an additional 300 shares in the last quarter. LPL Financial LLC boosted its position in shares of Simply Good Foods by 3.3% in the 4th quarter. LPL Financial LLC now owns 9,890 shares of the financial services provider's stock worth $386,000 after purchasing an additional 315 shares in the last quarter. Pictet Asset Management Holding SA lifted its position in Simply Good Foods by 2.9% in the 4th quarter. Pictet Asset Management Holding SA now owns 11,338 shares of the financial services provider's stock valued at $442,000 after acquiring an additional 324 shares in the last quarter. CIBC Private Wealth Group LLC lifted its position in Simply Good Foods by 72.4% in the 4th quarter. CIBC Private Wealth Group LLC now owns 1,060 shares of the financial services provider's stock valued at $38,000 after acquiring an additional 445 shares in the last quarter. Finally, Summit Investment Advisors Inc. lifted its position in Simply Good Foods by 5.3% in the 4th quarter. Summit Investment Advisors Inc. now owns 9,549 shares of the financial services provider's stock valued at $372,000 after acquiring an additional 480 shares in the last quarter. Hedge funds and other institutional investors own 88.45% of the company's stock.

Simply Good Foods Trading Up 0.4%

Shares of NASDAQ:SMPL traded up $0.16 during trading on Tuesday, reaching $36.12. 126,757 shares of the company were exchanged, compared to its average volume of 919,496. The firm has a market capitalization of $3.65 billion, a PE ratio of 25.62, a P/E/G ratio of 3.23 and a beta of 0.72. The business's fifty day simple moving average is $35.31 and its 200-day simple moving average is $36.71. The company has a debt-to-equity ratio of 0.20, a current ratio of 4.23 and a quick ratio of 2.75. The Simply Good Foods Company has a 12-month low of $31.25 and a 12-month high of $40.53.

Simply Good Foods (NASDAQ:SMPL - Get Free Report) last released its quarterly earnings results on Wednesday, April 9th. The financial services provider reported $0.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.40 by $0.06. Simply Good Foods had a net margin of 10.40% and a return on equity of 10.25%. The business had revenue of $359.70 million for the quarter, compared to analyst estimates of $354.50 million. During the same period in the previous year, the company earned $0.40 earnings per share. The business's revenue for the quarter was up 15.2% on a year-over-year basis. On average, research analysts anticipate that The Simply Good Foods Company will post 1.78 EPS for the current year.

Analysts Set New Price Targets

Several research firms recently issued reports on SMPL. Morgan Stanley upped their price objective on Simply Good Foods from $36.00 to $37.00 and gave the company an "equal weight" rating in a research report on Thursday, April 10th. UBS Group assumed coverage on Simply Good Foods in a research note on Wednesday, April 23rd. They issued a "neutral" rating and a $41.00 price target for the company. DA Davidson raised their price objective on Simply Good Foods from $35.00 to $41.00 and gave the company a "neutral" rating in a research report on Friday, April 11th. Finally, Mizuho raised their price objective on Simply Good Foods from $45.00 to $47.00 and gave the company an "outperform" rating in a research report on Friday, April 11th. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $41.00.

Insider Buying and Selling

In other news, SVP Stuart E. Jr. Heflin sold 5,000 shares of the stock in a transaction that occurred on Friday, April 11th. The stock was sold at an average price of $37.25, for a total value of $186,250.00. Following the completion of the sale, the senior vice president now directly owns 12,839 shares of the company's stock, valued at approximately $478,252.75. This represents a 28.03% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 9.35% of the stock is currently owned by corporate insiders.

About Simply Good Foods

The Simply Good Foods Company operates as a consumer-packaged food and beverage company in North America and internationally. The company develops, markets, and sells snacks and meal replacements. It offers protein bars, ready-to-drink shakes, sweet and salty snacks, cookies, protein chips, and recipes under the Atkins and Quest brand names.