Entropy Technologies LP Takes $241,000 Position in The Simply Good Foods Company (NASDAQ:SMPL)

Entropy Technologies LP bought a new stake in The Simply Good Foods Company (NASDAQ:SMPL) in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 6,931 shares of the financial services provider’s stock, valued at approximately $241,000.

A number of other hedge funds have also recently added to or reduced their stakes in the company. American Century Companies Inc. boosted its holdings in shares of Simply Good Foods by 1.8% in the second quarter. American Century Companies Inc. now owns 19,943 shares of the financial services provider’s stock valued at $721,000 after acquiring an additional 348 shares during the period. Fulton Bank N.A. boosted its stake in 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 during the period. Arizona State Retirement System grew its position in 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 last quarter. GAMMA Investing LLC increased its stake in Simply Good Foods by 182.4% in the second 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 during the period. Finally, Swiss National Bank raised its holdings in shares of Simply Good Foods by 0.4% in the first quarter. Swiss National Bank now owns 187,100 shares of the financial services provider’s stock valued at $6,367,000 after buying an additional 700 shares during the last quarter. Hedge funds and other institutional investors own 88.45% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Stephens lowered their price target on Simply Good Foods from $44.00 to $42.00 and set an “overweight” rating on the stock in a report on Wednesday, October 23rd. Citigroup lowered their target price on Simply Good Foods from $46.00 to $43.00 and set a “buy” rating on the stock in a research note on Thursday. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $40.78.

Simply Good Foods Price Performance

Shares of SMPL opened at $36.71 on Friday. The firm has a market capitalization of $3.68 billion, a PE ratio of 26.60, a P/E/G ratio of 3.23 and a beta of 0.64. The stock’s 50 day moving average is $34.23 and its two-hundred day moving average is $34.96. The Simply Good Foods Company has a twelve month low of $30.00 and a twelve month high of $43.00. The company has a current ratio of 4.05, a quick ratio of 2.75 and a debt-to-equity ratio of 0.23.

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

Insider Activity

In related news, insider Timothy Richard Kraft sold 21,209 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $36.50, for a total value of $774,128.50. Following the completion of the transaction, the insider now directly owns 40,068 shares of the company’s stock, valued at $1,462,482. This trade represents a 34.61 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Joseph Scalzo sold 25,000 shares of the business’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $35.99, for a total value of $899,750.00. Following the sale, the director now owns 139,204 shares in the company, valued at approximately $5,009,951.96. The trade was a 15.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 251,108 shares of company stock worth $9,253,356 in the last 90 days. 10.98% of the stock is currently owned by corporate insiders.

Simply Good Foods Company Profile

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.