Verition Fund Management LLC Has $8.35 Million Stake in The Simply Good Foods Company (NASDAQ:SMPL)

Verition Fund Management LLC trimmed its position in The Simply Good Foods Company (NASDAQ:SMPL) by 43.5% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 240,186 shares of the financial services provider’s stock after selling 184,689 shares during the period. Verition Fund Management LLC’s holdings in Simply Good Foods were worth $8,351,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Quarry LP bought a new position in Simply Good Foods in the second quarter valued at $30,000. GAMMA Investing LLC grew 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 acquiring an additional 549 shares in the last quarter. EverSource Wealth Advisors LLC increased its position in shares of Simply Good Foods by 236.4% in the second quarter. EverSource Wealth Advisors LLC now owns 1,766 shares of the financial services provider’s stock valued at $60,000 after acquiring an additional 1,241 shares during the last quarter. Innealta Capital LLC bought a new stake in Simply Good Foods during the second quarter worth about $71,000. Finally, KBC Group NV boosted its position in Simply Good Foods by 31.9% during 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 last quarter. 88.45% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Citigroup lowered their price target on 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 lowered their target price on shares of Simply Good Foods from $44.00 to $42.00 and set an “overweight” rating on the stock in a report on Wednesday, October 23rd. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, Simply Good Foods currently has a consensus rating of “Moderate Buy” and a consensus target price of $40.78.

Insider Activity

In related news, insider Timothy Richard Kraft sold 76,761 shares of the company’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $37.60, for a total value of $2,886,213.60. Following the transaction, the insider now directly owns 40,068 shares in the company, valued at approximately $1,506,556.80. This represents a 65.70 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Joseph Scalzo sold 25,000 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $35.99, for a total transaction of $899,750.00. Following the transaction, the director now directly owns 139,204 shares in the company, valued at approximately $5,009,951.96. This represents a 15.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 327,869 shares of company stock valued at $12,139,570. 10.98% of the stock is owned by insiders.

Simply Good Foods Trading Down 0.3 %

Shares of Simply Good Foods stock opened at $39.79 on Monday. The company has a debt-to-equity ratio of 0.23, a current ratio of 4.05 and a quick ratio of 2.75. The business has a fifty day simple moving average of $35.34 and a two-hundred day simple moving average of $35.09. The Simply Good Foods Company has a 1 year low of $30.00 and a 1 year high of $43.00. The company has a market capitalization of $3.99 billion, a price-to-earnings ratio of 28.83, a P/E/G ratio of 3.52 and a beta of 0.64.

Simply Good Foods (NASDAQ:SMPL) last posted its earnings results on Thursday, October 24th. The financial services provider reported $0.50 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.50. The company had revenue of $375.70 million during the quarter, compared to analysts’ expectations of $373.07 million. Simply Good Foods had a net margin of 10.46% and a return on equity of 10.23%. Simply Good Foods’s quarterly revenue was up 17.3% compared to the same quarter last year. During the same quarter last year, the company posted $0.41 EPS. Research analysts forecast that The Simply Good Foods Company will post 1.76 EPS for the current year.

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.