Brevan Howard Capital Management LP Purchases New Position in The Simply Good Foods Company (NASDAQ:SMPL)

Brevan Howard Capital Management LP acquired a new stake in The Simply Good Foods Company (NASDAQ:SMPL - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 16,467 shares of the financial services provider's stock, valued at approximately $642,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in SMPL. Barclays PLC lifted its holdings in Simply Good Foods by 396.7% in the 3rd quarter. Barclays PLC now owns 165,201 shares of the financial services provider's stock valued at $5,744,000 after purchasing an additional 131,939 shares in the last quarter. Franklin Resources Inc. lifted its holdings in Simply Good Foods by 2.8% in the 3rd quarter. Franklin Resources Inc. now owns 1,065,941 shares of the financial services provider's stock valued at $36,402,000 after purchasing an additional 28,876 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of Simply Good Foods by 215.6% during the 4th quarter. GAMMA Investing LLC now owns 1,758 shares of the financial services provider's stock worth $69,000 after acquiring an additional 1,201 shares during the period. Fulton Bank N.A. raised its holdings in shares of Simply Good Foods by 12.0% during the 4th quarter. Fulton Bank N.A. now owns 10,682 shares of the financial services provider's stock worth $416,000 after acquiring an additional 1,146 shares during the period. Finally, Diversify Wealth Management LLC raised its holdings in shares of Simply Good Foods by 44.7% during the 4th quarter. Diversify Wealth Management LLC now owns 12,656 shares of the financial services provider's stock worth $493,000 after acquiring an additional 3,911 shares during the period. Hedge funds and other institutional investors own 88.45% of the company's stock.

Simply Good Foods Trading Down 0.8%

NASDAQ SMPL traded down $0.29 during trading on Wednesday, hitting $35.63. The stock had a trading volume of 256,485 shares, compared to its average volume of 921,129. The company has a market capitalization of $3.60 billion, a PE ratio of 25.27, a PEG ratio of 3.23 and a beta of 0.72. The company has a quick ratio of 2.75, a current ratio of 4.23 and a debt-to-equity ratio of 0.20. The firm has a 50 day moving average price of $35.31 and a 200 day moving average price of $36.70. The Simply Good Foods Company has a twelve month low of $31.25 and a twelve month high of $40.53.

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

Wall Street Analyst Weigh In

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

Insider Transactions at Simply Good Foods

In related news, SVP Stuart E. Jr. Heflin sold 5,000 shares of the company's 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 transaction, the senior vice president now directly owns 12,839 shares of the company's stock, valued at $478,252.75. This represents a 28.03% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 9.35% of the company's stock.

Simply Good Foods Company Profile

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.