Bessemer Group Inc. Has $13.87 Million Stake in The Simply Good Foods Company $SMPL

Key Points

• Bessemer Group Inc. sharply increased its stake in Simply Good Foods by 230.7% in the fourth quarter, ending with 690,863 shares worth about $13.87 million, or roughly 0.75% of the company.
• Insider buying also stood out: Director James M. Kilts purchased 80,000 shares at $12.39 each, boosting his ownership by 86.16%.
• The stock has been under pressure, with Simply Good Foods recently trading near $11.55 after a weak quarter; revenue fell 9.4% year over year, though EPS came in above expectations and analysts currently rate the stock Hold on average.

Bessemer Group Inc. boosted its holdings in shares of The Simply Good Foods Company (NASDAQ:SMPL - Free Report) by 230.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 690,863 shares of the financial services provider's stock after buying an additional 481,952 shares during the quarter. Bessemer Group Inc. owned about 0.75% of Simply Good Foods worth $13,873,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. California State Teachers Retirement System increased its holdings in shares of Simply Good Foods by 0.4% in the second quarter. California State Teachers Retirement System now owns 88,477 shares of the financial services provider's stock valued at $2,795,000 after purchasing an additional 383 shares in the last quarter. NorthCrest Asset Manangement LLC increased its holdings in shares of Simply Good Foods by 6.1% in the third quarter. NorthCrest Asset Manangement LLC now owns 8,843 shares of the financial services provider's stock valued at $215,000 after purchasing an additional 510 shares in the last quarter. EverSource Wealth Advisors LLC increased its holdings in shares of Simply Good Foods by 125.4% in the second quarter. EverSource Wealth Advisors LLC now owns 967 shares of the financial services provider's stock valued at $31,000 after purchasing an additional 538 shares in the last quarter. AQR Capital Management LLC increased its holdings in shares of Simply Good Foods by 3.4% in the first quarter. AQR Capital Management LLC now owns 19,018 shares of the financial services provider's stock valued at $656,000 after purchasing an additional 617 shares in the last quarter. Finally, Gamco Investors INC. ET AL increased its holdings in shares of Simply Good Foods by 3.4% in the second quarter. Gamco Investors INC. ET AL now owns 23,120 shares of the financial services provider's stock valued at $730,000 after purchasing an additional 750 shares in the last quarter. 88.45% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Simply Good Foods

In other Simply Good Foods news, Director James M. Kilts bought 80,000 shares of the firm's stock in a transaction on Thursday, April 23rd. The stock was purchased at an average cost of $12.39 per share, with a total value of $991,200.00. Following the completion of the purchase, the director owned 172,854 shares in the company, valued at approximately $2,141,661.06. The trade was a 86.16% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 8.76% of the company's stock.

Simply Good Foods Price Performance

SMPL opened at $11.55 on Friday. The company has a fifty day moving average price of $13.40 and a two-hundred day moving average price of $17.05. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.87 and a current ratio of 5.06. The Simply Good Foods Company has a 52 week low of $10.21 and a 52 week high of $36.61. The firm has a market capitalization of $1.05 billion, a PE ratio of -9.71 and a beta of 0.21.

Simply Good Foods (NASDAQ:SMPL - Get Free Report) last released its earnings results on Thursday, April 9th. The financial services provider reported $0.45 EPS for the quarter, topping analysts' consensus estimates of $0.40 by $0.05. Simply Good Foods had a negative net margin of 7.46% and a positive return on equity of 9.72%. The firm had revenue of $326.01 million during the quarter, compared to analyst estimates of $345.08 million. During the same quarter in the previous year, the business earned $0.46 EPS. The business's quarterly revenue was down 9.4% compared to the same quarter last year. As a group, analysts anticipate that The Simply Good Foods Company will post 1.54 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Stephens reissued an "equal weight" rating and issued a $14.00 price target (down from $24.00) on shares of Simply Good Foods in a report on Friday, April 10th. Jefferies Financial Group raised shares of Simply Good Foods from a "hold" rating to a "buy" rating and lowered their price target for the company from $23.00 to $22.00 in a report on Monday, March 16th. Stifel Nicolaus lowered their price target on shares of Simply Good Foods from $32.00 to $20.00 and set a "buy" rating for the company in a report on Friday, April 10th. Zacks Research lowered shares of Simply Good Foods from a "hold" rating to a "strong sell" rating in a report on Monday, April 13th. Finally, UBS Group lowered their target price on shares of Simply Good Foods from $16.00 to $13.00 and set a "neutral" rating for the company in a report on Friday, April 10th. Five investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, Simply Good Foods presently has a consensus rating of "Hold" and a consensus price target of $21.64.

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.

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