Counterpoint Mutual Funds LLC Purchases 952,166 Shares of The Simply Good Foods Company $SMPL

Key Points

• Counterpoint Mutual Funds increased its Simply Good Foods stake by 952,166 shares, or 3,594.3%, in the third quarter, bringing its holdings to 978,657 shares worth approximately $9.29 million.
• Institutional investors own 88.45% of SMPL, while analysts maintain a consensus “Hold” rating with an average price target of $14.45; recent target cuts included DA Davidson’s reduction to $14 and TD Cowen’s to $11.
• SMPL opened at $11.19, near the lower end of its 12-month range of $9.38 to $25.66. The company has a market capitalization of about $990 million and owns the Atkins and Quest brands focused on lower-sugar and high-protein foods.

Counterpoint Mutual Funds LLC boosted its position in shares of The Simply Good Foods Company (NASDAQ:SMPL - Free Report) by 3,594.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 978,657 shares of the financial services provider's stock after acquiring an additional 952,166 shares during the period. Counterpoint Mutual Funds LLC owned 1.11% of Simply Good Foods worth $9,287,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the company. Illinois Municipal Retirement Fund lifted its stake in Simply Good Foods by 2.0% in the 1st quarter. Illinois Municipal Retirement Fund now owns 53,688 shares of the financial services provider's stock worth $770,000 after purchasing an additional 1,047 shares in the last quarter. Leonteq Securities AG boosted its holdings in Simply Good Foods by 96.2% in the 1st quarter. Leonteq Securities AG now owns 2,309 shares of the financial services provider's stock valued at $33,000 after purchasing an additional 1,132 shares during the period. Hsbc Holdings PLC grew its position in shares of Simply Good Foods by 4.1% during the 1st quarter. Hsbc Holdings PLC now owns 30,788 shares of the financial services provider's stock valued at $443,000 after purchasing an additional 1,221 shares in the last quarter. EverSource Wealth Advisors LLC grew its position in shares of 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 valued at $43,000 after purchasing an additional 2,125 shares in the last quarter. Finally, Public Employees Retirement System of Ohio purchased a new position in shares of Simply Good Foods during the 2nd quarter valued at $30,000. Hedge funds and other institutional investors own 88.45% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on SMPL. Truist Financial set a $11.00 price objective on Simply Good Foods in a research report on Wednesday, August 26th. UBS Group set a $15.00 target price on Simply Good Foods in a research report on Friday, July 10th. DA Davidson decreased their target price on Simply Good Foods from $39.00 to $14.00 and set a "neutral" rating on the stock in a research note on Friday, July 10th. TD Cowen decreased their target price on Simply Good Foods from $13.00 to $11.00 and set a "hold" rating on the stock in a research note on Wednesday, August 26th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and issued a $14.00 price target on shares of Simply Good Foods in a report on Friday, July 10th. Three investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $14.45.

Simply Good Foods Price Performance

SMPL opened at $11.19 on Friday. The company has a current ratio of 4.80, a quick ratio of 3.10 and a debt-to-equity ratio of 0.28. The stock has a market capitalization of $989.88 million, a P/E ratio of -5.16 and a beta of 0.19. The stock has a 50-day moving average price of $10.50 and a 200-day moving average price of $11.60. The Simply Good Foods Company has a 12-month low of $9.38 and a 12-month high of $25.66.

About Simply Good Foods

The Simply Good Foods Company NASDAQ: SMPL is a consumer packaged food company focused on nutritious and convenient foods and beverages. Its portfolio is built around products that support lower-sugar, higher-protein, and other health-conscious eating preferences.

The company's principal brands include Atkins, which offers nutrition products such as bars, shakes, snacks, frozen foods, and other items associated with low-carbohydrate lifestyles, and Quest, which markets protein bars, cookies, chips, pizza, shakes, and other high-protein snacks.

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