Edge Capital Group LLC Makes New Investment in The Simply Good Foods Company (NASDAQ:SMPL)

Edge Capital Group LLC purchased a new stake in The Simply Good Foods Company (NASDAQ:SMPL) in the fourth quarter, HoldingsChannel reports. The firm purchased 11,951 shares of the financial services provider’s stock, valued at approximately $466,000.

A number of other hedge funds have also made changes to their positions in SMPL. R Squared Ltd acquired a new stake in Simply Good Foods in the 4th quarter valued at about $26,000. Quarry LP lifted its holdings in shares of Simply Good Foods by 64.7% in the third quarter. Quarry LP now owns 1,357 shares of the financial services provider’s stock valued at $47,000 after purchasing an additional 533 shares in the last quarter. GAMMA Investing LLC lifted its holdings in shares of Simply Good Foods by 215.6% in the fourth quarter. GAMMA Investing LLC now owns 1,758 shares of the financial services provider’s stock valued at $69,000 after purchasing an additional 1,201 shares in the last quarter. KBC Group NV grew its position in shares of Simply Good Foods by 31.9% in 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. Finally, Pacer Advisors Inc. increased its stake in shares of Simply Good Foods by 39.5% during the 4th quarter. Pacer Advisors Inc. now owns 3,450 shares of the financial services provider’s stock worth $134,000 after purchasing an additional 976 shares in the last quarter. Hedge funds and other institutional investors own 88.45% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. Mizuho reduced their target price on Simply Good Foods from $48.00 to $45.00 and set an “outperform” rating on the stock in a research note on Friday, January 10th. Citigroup reduced their price objective 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. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, Simply Good Foods has a consensus rating of “Moderate Buy” and a consensus target price of $40.22.

Simply Good Foods Trading Up 0.2 %

Shares of SMPL opened at $37.39 on Tuesday. The Simply Good Foods Company has a fifty-two week low of $30.00 and a fifty-two week high of $40.53. The stock has a fifty day moving average of $37.33 and a two-hundred day moving average of $35.82. The company has a debt-to-equity ratio of 0.20, a quick ratio of 2.75 and a current ratio of 4.23. The company has a market capitalization of $3.78 billion, a PE ratio of 26.52, a price-to-earnings-growth ratio of 3.23 and a beta of 0.65.

Simply Good Foods (NASDAQ:SMPL) last released its earnings results on Wednesday, January 8th. The financial services provider reported $0.49 earnings per share for the quarter, topping the consensus estimate of $0.43 by $0.06. The firm had revenue of $341.30 million for the quarter, compared to the consensus estimate of $347.32 million. Simply Good Foods had a return on equity of 10.25% and a net margin of 10.40%. The firm’s revenue for the quarter was up 10.6% compared to the same quarter last year. During the same period in the prior year, the business posted $0.43 earnings per share. As a group, analysts forecast that The Simply Good Foods Company will post 1.78 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.