Cohen Capital Management Inc. Sells 56,102 Shares of The Simply Good Foods Company $SMPL

Cohen Capital Management Inc. decreased its holdings in shares of The Simply Good Foods Company (NASDAQ:SMPL) by 48.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 60,262 shares of the financial services provider’s stock after selling 56,102 shares during the quarter. Cohen Capital Management Inc.’s holdings in Simply Good Foods were worth $1,210,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. Marshall Wace LLP bought a new stake in shares of Simply Good Foods during the 3rd quarter valued at approximately $31,825,000. Norges Bank bought a new position in Simply Good Foods in the 2nd quarter valued at approximately $36,419,000. Millennium Management LLC lifted its stake in Simply Good Foods by 482.7% in the 3rd quarter. Millennium Management LLC now owns 1,246,236 shares of the financial services provider’s stock valued at $30,932,000 after purchasing an additional 1,032,358 shares during the last quarter. Voloridge Investment Management LLC boosted its position in Simply Good Foods by 781.1% in the third quarter. Voloridge Investment Management LLC now owns 902,397 shares of the financial services provider’s stock valued at $22,397,000 after buying an additional 799,983 shares in the last quarter. Finally, Qube Research & Technologies Ltd grew its stake in shares of Simply Good Foods by 119.5% during the third quarter. Qube Research & Technologies Ltd now owns 1,313,726 shares of the financial services provider’s stock worth $32,607,000 after buying an additional 715,110 shares during the last quarter. 88.45% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on SMPL. Jefferies Financial Group upgraded shares of Simply Good Foods from a “hold” rating to a “buy” rating and lowered their price target for the stock from $23.00 to $22.00 in a report on Monday, March 16th. Mizuho set a $30.00 price objective on Simply Good Foods in a report on Thursday, January 15th. Zacks Research cut Simply Good Foods from a “strong-buy” rating to a “hold” rating in a report on Tuesday, March 10th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $22.00 target price on shares of Simply Good Foods in a research report on Monday, December 15th. Finally, UBS Group cut their price target on Simply Good Foods from $23.00 to $16.00 and set a “neutral” rating on the stock in a research note on Thursday. Five research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $28.33.

Simply Good Foods Price Performance

SMPL stock opened at $14.16 on Friday. The company has a fifty day moving average price of $16.07 and a 200-day moving average price of $19.43. The company has a market capitalization of $1.31 billion, a P/E ratio of 15.73 and a beta of 0.33. The Simply Good Foods Company has a 52-week low of $13.62 and a 52-week high of $38.15. The company has a debt-to-equity ratio of 0.23, a quick ratio of 3.24 and a current ratio of 5.01.

Simply Good Foods (NASDAQ:SMPL) last issued its quarterly earnings data on Thursday, January 8th. The financial services provider reported $0.39 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.03. The company had revenue of $340.20 million for the quarter, compared to analysts’ expectations of $337.64 million. Simply Good Foods had a net margin of 6.26% and a return on equity of 9.56%. Simply Good Foods’s revenue for the quarter was down .3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.49 earnings per share. As a group, equities analysts expect that The Simply Good Foods Company will post 1.78 EPS for the current year.

About Simply Good Foods

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.