BNP Paribas Financial Markets Purchases 51,006 Shares of The Simply Good Foods Company $SMPL

BNP Paribas Financial Markets boosted its position in shares of The Simply Good Foods Company (NASDAQ:SMPL) by 12.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 461,310 shares of the financial services provider’s stock after buying an additional 51,006 shares during the period. BNP Paribas Financial Markets’ holdings in Simply Good Foods were worth $9,263,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in SMPL. Marshall Wace LLP bought a new position in Simply Good Foods during the third quarter valued at approximately $31,825,000. Millennium Management LLC raised its position in Simply Good Foods by 482.7% during the third 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 period. Voloridge Investment Management LLC raised its position in Simply Good Foods by 781.1% during 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 purchasing an additional 799,983 shares during the period. Qube Research & Technologies Ltd raised its position in 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 valued at $32,607,000 after purchasing an additional 715,110 shares during the period. Finally, Shapiro Capital Management LLC purchased a new stake in Simply Good Foods during the third quarter valued at approximately $17,175,000. 88.45% of the stock is owned by institutional investors.

Simply Good Foods Trading Down 0.1%

Shares of NASDAQ:SMPL opened at $11.93 on Tuesday. The Simply Good Foods Company has a 12-month low of $10.21 and a 12-month high of $34.32. The business’s fifty day simple moving average is $12.40 and its 200-day simple moving average is $16.12. The company has a market capitalization of $1.08 billion, a PE ratio of -10.03 and a beta of 0.17. The company has a current ratio of 5.06, a quick ratio of 2.87 and a debt-to-equity ratio of 0.27.

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

Wall Street Analyst Weigh In

A number of brokerages have issued reports on SMPL. BTIG Research started coverage on Simply Good Foods in a research report on Monday, April 13th. They set a “neutral” rating on the stock. Zacks Research lowered Simply Good Foods from a “hold” rating to a “strong sell” rating in a research note on Monday, April 13th. UBS Group dropped their price objective on Simply Good Foods from $13.00 to $12.00 and set a “neutral” rating for the company in a report on Tuesday, June 2nd. Mizuho set a $19.00 price objective on Simply Good Foods in a report on Monday, May 4th. Finally, Morgan Stanley dropped their price objective on Simply Good Foods from $24.00 to $14.00 and set an “equal weight” rating for the company in a report on Friday, April 10th. Four analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $19.82.

Insiders Place Their Bets

In related news, Director James M. Kilts purchased 80,000 shares of the business’s stock in a transaction dated Thursday, April 23rd. The shares were acquired at an average cost of $12.39 per share, for a total transaction of $991,200.00. Following the acquisition, the director owned 172,854 shares of the company’s stock, valued at $2,141,661.06. The trade was a 86.16% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Clayton C. Daley, Jr. purchased 10,000 shares of the business’s stock in a transaction dated Thursday, May 14th. The stock was bought at an average price of $11.78 per share, for a total transaction of $117,800.00. Following the completion of the acquisition, the director directly owned 111,743 shares in the company, valued at approximately $1,316,332.54. This trade represents a 9.83% increase in their position. The SEC filing for this purchase provides additional information. Company insiders own 8.76% of the company’s stock.

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.