Simply Good Foods Co (NASDAQ:SMPL) was the recipient of a large decline in short interest in September. As of September 28th, there was short interest totalling 3,071,619 shares, a decline of 47.8% from the September 14th total of 5,889,086 shares. Currently, 6.1% of the company’s stock are short sold. Based on an average daily volume of 961,207 shares, the days-to-cover ratio is presently 3.2 days.

A number of hedge funds have recently added to or reduced their stakes in SMPL. BlackRock Inc. lifted its position in Simply Good Foods by 282.2% in the 2nd quarter. BlackRock Inc. now owns 3,899,264 shares of the financial services provider’s stock valued at $56,305,000 after acquiring an additional 2,879,079 shares in the last quarter. Millennium Management LLC lifted its position in Simply Good Foods by 62.8% in the 1st quarter. Millennium Management LLC now owns 2,804,550 shares of the financial services provider’s stock valued at $38,506,000 after acquiring an additional 1,082,031 shares in the last quarter. Emerald Advisers Inc. PA bought a new position in Simply Good Foods in the 2nd quarter valued at approximately $13,743,000. Eagle Asset Management Inc. bought a new position in Simply Good Foods in the 2nd quarter valued at approximately $13,246,000. Finally, Emerald Mutual Fund Advisers Trust bought a new position in Simply Good Foods in the 2nd quarter valued at approximately $11,101,000. 91.84% of the stock is currently owned by institutional investors and hedge funds.

A number of analysts have recently commented on SMPL shares. Zacks Investment Research cut Simply Good Foods from a “buy” rating to a “hold” rating in a research report on Tuesday, September 18th. SunTrust Banks boosted their price target on Simply Good Foods to $20.00 and gave the stock a “buy” rating in a research report on Wednesday, July 11th. Stifel Nicolaus boosted their price target on Simply Good Foods from $16.00 to $18.00 and gave the stock a “buy” rating in a research report on Wednesday, July 11th. Finally, Consumer Edge started coverage on Simply Good Foods in a research report on Monday, July 2nd. They issued an “outperform” rating on the stock. One research analyst has rated the stock with a sell rating and five have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $17.60.

SMPL stock opened at $17.53 on Friday. Simply Good Foods has a 12-month low of $11.01 and a 12-month high of $19.84. The company has a debt-to-equity ratio of 0.29, a quick ratio of 5.01 and a current ratio of 5.88.

Simply Good Foods (NASDAQ:SMPL) last released its quarterly earnings data on Tuesday, July 10th. The financial services provider reported $0.10 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.10. The business had revenue of $107.20 million for the quarter, compared to analysts’ expectations of $102.24 million. Simply Good Foods had a return on equity of 2.44% and a net margin of 10.02%. Simply Good Foods’s revenue for the quarter was up 11.1% compared to the same quarter last year. On average, research analysts anticipate that Simply Good Foods will post 0.56 earnings per share for the current fiscal year.

Simply Good Foods Company Profile

The Simply Good Foods Company develops, markets, and sells branded nutritional foods and snack products in North America and internationally. The company markets nutrition bars, ready-to-drink shakes, snacks, and confectionery products under the Atkins, SimplyProtein, Atkins Endulge, and Atkins Harvest Trail brand names.

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