Point72 Asset Management L.P. Buys 248,175 Shares of Simply Good Foods Co (NASDAQ:SMPL)
Point72 Asset Management L.P. increased its stake in Simply Good Foods Co (NASDAQ:SMPL) by 65.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 629,400 shares of the financial services provider’s stock after acquiring an additional 248,175 shares during the period. Point72 Asset Management L.P. owned about 0.66% of Simply Good Foods worth $17,963,000 as of its most recent SEC filing.
A number of other hedge funds also recently modified their holdings of SMPL. Cubist Systematic Strategies LLC lifted its position in Simply Good Foods by 130.3% in the fourth quarter. Cubist Systematic Strategies LLC now owns 160,688 shares of the financial services provider’s stock valued at $4,586,000 after purchasing an additional 90,925 shares during the last quarter. Jane Street Group LLC grew its holdings in Simply Good Foods by 32.7% in the 4th quarter. Jane Street Group LLC now owns 10,317 shares of the financial services provider’s stock worth $294,000 after acquiring an additional 2,540 shares during the last quarter. Bank of America Corp DE grew its holdings in Simply Good Foods by 25.6% in the 4th quarter. Bank of America Corp DE now owns 460,703 shares of the financial services provider’s stock worth $13,149,000 after acquiring an additional 93,917 shares during the last quarter. UBS Asset Management Americas Inc. increased its position in shares of Simply Good Foods by 20.7% in the fourth quarter. UBS Asset Management Americas Inc. now owns 82,454 shares of the financial services provider’s stock valued at $2,353,000 after acquiring an additional 14,117 shares during the period. Finally, Loomis Sayles & Co. L P increased its position in shares of Simply Good Foods by 14.8% in the fourth quarter. Loomis Sayles & Co. L P now owns 1,225,323 shares of the financial services provider’s stock valued at $34,971,000 after acquiring an additional 157,584 shares during the period. Institutional investors own 90.12% of the company’s stock.
A number of analysts have recently weighed in on SMPL shares. DA Davidson dropped their target price on shares of Simply Good Foods from $33.00 to $28.00 and set a “buy” rating for the company in a report on Friday, March 6th. Zacks Investment Research cut Simply Good Foods from a “strong-buy” rating to a “hold” rating in a research note on Thursday, March 12th. TheStreet downgraded Simply Good Foods from a “b-” rating to a “c+” rating in a report on Wednesday, March 4th. Deutsche Bank started coverage on Simply Good Foods in a research note on Wednesday, December 11th. They issued a “buy” rating and a $32.00 price target for the company. Finally, Goldman Sachs Group reiterated a “buy” rating and issued a $34.00 price target on shares of Simply Good Foods in a report on Monday, February 10th. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $30.13.
Simply Good Foods (NASDAQ:SMPL) last announced its quarterly earnings data on Thursday, January 9th. The financial services provider reported $0.22 EPS for the quarter, beating the consensus estimate of $0.20 by $0.02. The business had revenue of $152.20 million during the quarter, compared to analyst estimates of $159.40 million. Simply Good Foods had a return on equity of 5.64% and a net margin of 4.96%. The company’s revenue for the quarter was up 25.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.18 earnings per share. On average, analysts expect that Simply Good Foods Co will post 0.92 EPS for the current fiscal year.
In related news, Director Brian K. Ratzan purchased 10,000 shares of the stock in a transaction dated Monday, February 3rd. The stock was purchased at an average price of $23.16 per share, with a total value of $231,600.00. Following the transaction, the director now directly owns 66,254 shares in the company, valued at $1,534,442.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director James M. Kilts purchased 88,500 shares of the company’s stock in a transaction that occurred on Monday, February 24th. The stock was purchased at an average price of $22.78 per share, for a total transaction of $2,016,030.00. Insiders have purchased 125,461 shares of company stock worth $2,875,588 in the last three months. 3.00% of the stock is currently owned by insiders.
About Simply Good Foods
The Simply Good Foods Company develops, markets, and sells branded nutritional foods and snack products in North America and internationally. It markets nutrition bars, ready-to-drink shakes, snacks, and confectionery products under the Atkins, SimplyProtein, Atkins Harvest Trail, and Atkins Endulge brand names.
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