Townsquare Capital LLC Raises Position in The Simply Good Foods Company (NASDAQ:SMPL)

Townsquare Capital LLC increased its position in shares of The Simply Good Foods Company (NASDAQ:SMPL) by 3.0% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 59,897 shares of the financial services provider’s stock after purchasing an additional 1,741 shares during the period. Townsquare Capital LLC owned approximately 0.06% of Simply Good Foods worth $2,083,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. American Century Companies Inc. lifted its holdings in shares of Simply Good Foods by 1.8% in the 2nd quarter. American Century Companies Inc. now owns 19,943 shares of the financial services provider’s stock valued at $721,000 after buying an additional 348 shares during the period. Fulton Bank N.A. boosted its position in shares of Simply Good Foods by 4.9% during the 3rd quarter. Fulton Bank N.A. now owns 9,536 shares of the financial services provider’s stock worth $332,000 after purchasing an additional 443 shares in the last quarter. Arizona State Retirement System grew its stake in shares of Simply Good Foods by 2.0% during the 2nd quarter. Arizona State Retirement System now owns 26,592 shares of the financial services provider’s stock worth $961,000 after purchasing an additional 533 shares during the period. GAMMA Investing LLC increased its holdings in shares of Simply Good Foods by 182.4% in the 2nd quarter. GAMMA Investing LLC now owns 850 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 549 shares in the last quarter. Finally, KBC Group NV lifted its stake in shares of Simply Good Foods by 31.9% in the third quarter. KBC Group NV now owns 3,084 shares of the financial services provider’s stock valued at $107,000 after purchasing an additional 746 shares during the period. Institutional investors and hedge funds own 88.45% of the company’s stock.

Simply Good Foods Price Performance

SMPL stock opened at $39.79 on Friday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 2.75 and a current ratio of 4.05. The stock’s 50 day moving average price is $35.34 and its 200 day moving average price is $35.11. The firm has a market cap of $3.99 billion, a P/E ratio of 28.83, a PEG ratio of 3.53 and a beta of 0.64. The Simply Good Foods Company has a 1 year low of $30.00 and a 1 year high of $43.00.

Simply Good Foods (NASDAQ:SMPL) last posted its quarterly earnings data on Thursday, October 24th. The financial services provider reported $0.50 EPS for the quarter, meeting analysts’ consensus estimates of $0.50. The business had revenue of $375.70 million for the quarter, compared to analyst estimates of $373.07 million. Simply Good Foods had a return on equity of 10.23% and a net margin of 10.46%. The business’s revenue for the quarter was up 17.3% compared to the same quarter last year. During the same quarter last year, the company earned $0.41 earnings per share. On average, sell-side analysts expect that The Simply Good Foods Company will post 1.76 earnings per share for the current fiscal year.

Insider Transactions at Simply Good Foods

In other news, insider Timothy Richard Kraft sold 76,761 shares of the firm’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $37.60, for a total transaction of $2,886,213.60. Following the sale, the insider now owns 40,068 shares in the company, valued at $1,506,556.80. This trade represents a 65.70 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Brian K. Ratzan sold 50,000 shares of Simply Good Foods stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $37.38, for a total value of $1,869,000.00. Following the completion of the sale, the director now directly owns 2,049,387 shares of the company’s stock, valued at approximately $76,606,086.06. This represents a 2.38 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 327,869 shares of company stock worth $12,139,570 over the last ninety days. 10.98% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on SMPL. Citigroup lowered their target price on shares of Simply Good Foods from $46.00 to $43.00 and set a “buy” rating on the stock in a research report on Thursday, November 14th. Stephens dropped their price objective on Simply Good Foods from $44.00 to $42.00 and set an “overweight” rating for the company in a research note on Wednesday, October 23rd. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, Simply Good Foods currently has an average rating of “Moderate Buy” and an average price target of $40.78.

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.