The Simply Good Foods Company $SMPL Shares Acquired by AlphaQuest LLC

Key Points

• AlphaQuest LLC significantly increased its holdings in The Simply Good Foods Company by 273.9%, owning 57,006 shares valued at approximately $1.97 million by the end of the first quarter.
• CEO Geoff E. Tanner purchased 6,050 shares at $33.11 per share, increasing his ownership by 6.57% to a total of 98,190 shares, valued at over $3.25 million.
• Simply Good Foods reported $0.51 earnings per share for its latest quarter, beating expectations, and forecasted 1.78 EPS for the current year, with analysts rating the stock as a 'Moderate Buy'.

AlphaQuest LLC boosted its stake in shares of The Simply Good Foods Company (NASDAQ:SMPL - Free Report) by 273.9% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 57,006 shares of the financial services provider's stock after purchasing an additional 41,758 shares during the quarter. AlphaQuest LLC owned approximately 0.06% of Simply Good Foods worth $1,966,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of SMPL. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in Simply Good Foods during the 1st quarter worth about $54,000. Caitong International Asset Management Co. Ltd purchased a new stake in Simply Good Foods during the 1st quarter worth about $55,000. Russell Investments Group Ltd. boosted its position in shares of Simply Good Foods by 2,055.7% during the 1st quarter. Russell Investments Group Ltd. now owns 3,018 shares of the financial services provider's stock worth $104,000 after acquiring an additional 2,878 shares in the last quarter. Banque Cantonale Vaudoise acquired a new position in shares of Simply Good Foods during the 1st quarter worth about $105,000. Finally, Nisa Investment Advisors LLC boosted its position in shares of Simply Good Foods by 24.7% during the 1st quarter. Nisa Investment Advisors LLC now owns 3,808 shares of the financial services provider's stock worth $131,000 after acquiring an additional 754 shares in the last quarter. Hedge funds and other institutional investors own 88.45% of the company's stock.

Simply Good Foods Stock Performance

Simply Good Foods stock traded down $0.25 during mid-day trading on Thursday, reaching $28.87. 255,455 shares of the company were exchanged, compared to its average volume of 1,116,618. The Simply Good Foods Company has a twelve month low of $28.14 and a twelve month high of $40.53. The firm's 50-day simple moving average is $31.21 and its two-hundred day simple moving average is $33.97. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.46 and a current ratio of 3.95. The firm has a market cap of $2.90 billion, a PE ratio of 20.20, a price-to-earnings-growth ratio of 2.82 and a beta of 0.59.

Simply Good Foods (NASDAQ:SMPL - Get Free Report) last posted its quarterly earnings data on Thursday, July 10th. The financial services provider reported $0.51 earnings per share for the quarter, topping analysts' consensus estimates of $0.50 by $0.01. Simply Good Foods had a return on equity of 10.29% and a net margin of 9.97%.The company had revenue of $380,956 billion during the quarter, compared to analysts' expectations of $381.68 million. During the same period last year, the firm earned $0.50 EPS. The firm's revenue for the quarter was up 13.8% on a year-over-year basis. Equities analysts predict that The Simply Good Foods Company will post 1.78 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on SMPL. Mizuho lowered their price objective on Simply Good Foods from $47.00 to $43.00 and set an "outperform" rating for the company in a research report on Tuesday, July 15th. UBS Group set a $36.00 price objective on Simply Good Foods and gave the stock a "neutral" rating in a research report on Tuesday, July 1st. DA Davidson lowered their price objective on Simply Good Foods from $42.00 to $38.00 and set a "neutral" rating for the company in a research report on Monday, June 9th. Sanford C. Bernstein set a $45.00 price objective on Simply Good Foods and gave the stock an "outperform" rating in a research report on Friday, July 11th. Finally, Stifel Nicolaus lowered their price objective on Simply Good Foods from $40.00 to $38.00 and set a "buy" rating for the company in a research report on Friday, June 27th. Five research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $39.88.

Insider Activity

In other Simply Good Foods news, CEO Geoff E. Tanner purchased 6,050 shares of Simply Good Foods stock in a transaction dated Wednesday, July 23rd. The stock was acquired at an average cost of $33.11 per share, with a total value of $200,315.50. Following the acquisition, the chief executive officer directly owned 98,190 shares of the company's stock, valued at $3,251,070.90. This represents a 6.57% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 9.35% of the company's stock.

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.