Bessemer Group Inc. Has $13.87 Million Stake in The Simply Good Foods Company $SMPL

Bessemer Group Inc. raised its holdings in The Simply Good Foods Company (NASDAQ:SMPL) by 230.7% in the fourth quarter, Holdings Channel reports. The fund owned 690,863 shares of the financial services provider’s stock after acquiring an additional 481,952 shares during the period. Bessemer Group Inc.’s holdings in Simply Good Foods were worth $13,873,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in Simply Good Foods by 2.4% in the 4th quarter. Vanguard Group Inc. now owns 10,631,429 shares of the financial services provider’s stock worth $213,479,000 after purchasing an additional 249,405 shares during the period. Y Intercept Hong Kong Ltd boosted its stake in Simply Good Foods by 740.0% in the 3rd quarter. Y Intercept Hong Kong Ltd now owns 162,845 shares of the financial services provider’s stock worth $4,042,000 after purchasing an additional 143,458 shares during the period. Savoir Faire Capital Management L.P. boosted its stake in Simply Good Foods by 96.8% in the 3rd quarter. Savoir Faire Capital Management L.P. now owns 145,956 shares of the financial services provider’s stock worth $3,623,000 after purchasing an additional 71,773 shares during the period. Tudor Investment Corp ET AL boosted its stake in Simply Good Foods by 468.7% in the 3rd quarter. Tudor Investment Corp ET AL now owns 208,385 shares of the financial services provider’s stock worth $5,172,000 after purchasing an additional 171,745 shares during the period. Finally, Clark Estates Inc. NY acquired a new position in Simply Good Foods in the 3rd quarter worth $1,986,000. 88.45% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

SMPL has been the subject of a number of research analyst reports. BTIG Research initiated coverage on shares of Simply Good Foods in a research note on Monday, April 13th. They issued a “neutral” rating for the company. DA Davidson reissued a “neutral” rating and set a $39.00 price target on shares of Simply Good Foods in a research report on Friday, April 10th. TD Cowen cut their price target on shares of Simply Good Foods from $20.00 to $13.00 and set a “hold” rating on the stock in a research report on Friday, April 10th. Stephens reissued an “equal weight” rating and set a $14.00 price target (down from $24.00) on shares of Simply Good Foods in a research report on Friday, April 10th. Finally, Morgan Stanley cut their price target on shares of Simply Good Foods from $24.00 to $14.00 and set an “equal weight” rating on the stock in a research report on Friday, April 10th. Five analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $21.64.

Simply Good Foods Stock Up 0.1%

Simply Good Foods stock opened at $11.55 on Friday. The stock has a market cap of $1.05 billion, a P/E ratio of -9.71 and a beta of 0.21. The company has a quick ratio of 2.87, a current ratio of 5.06 and a debt-to-equity ratio of 0.27. The Simply Good Foods Company has a twelve month low of $10.21 and a twelve month high of $36.61. The company’s 50-day moving average price is $13.40 and its two-hundred day moving average price is $17.05.

Simply Good Foods (NASDAQ:SMPL) last released its quarterly earnings results on Thursday, April 9th. The financial services provider reported $0.45 earnings per share for the quarter, beating the consensus estimate of $0.40 by $0.05. The firm had revenue of $326.01 million for the quarter, compared to analysts’ expectations of $345.08 million. Simply Good Foods had a negative net margin of 7.46% and a positive return on equity of 9.72%. The business’s revenue was down 9.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.46 EPS. As a group, analysts expect that The Simply Good Foods Company will post 1.54 EPS for the current year.

Insiders Place Their Bets

In related news, Director James M. Kilts purchased 80,000 shares of the stock in a transaction on Thursday, April 23rd. The shares were purchased at an average cost of $12.39 per share, with a total value of $991,200.00. Following the acquisition, the director directly owned 172,854 shares in the company, valued at $2,141,661.06. The trade was a 86.16% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. 8.76% of the stock is currently owned by corporate insiders.

Simply Good Foods Profile

Simply Good Foods Co (NASDAQ: SMPL) is a North American consumer packaged foods company specializing in better-for-you nutrition products. The company’s portfolio centers on two well-established brands, Atkins and Quest, which offer a range of low-carbohydrate, high-protein bars, powders, shakes, and snacks. Simply Good Foods aims to support consumers’ health and wellness goals by delivering convenient, nutrient-dense options without added sugars or artificial sweeteners.

Under the Atkins brand, the company produces meal replacements, snack bars, and ready-to-drink shakes designed for low-carb dieters.