Wealthfront Advisers LLC Invests $7.88 Million in The Simply Good Foods Company (NASDAQ:SMPL)

Wealthfront Advisers LLC purchased a new position in shares of The Simply Good Foods Company (NASDAQ:SMPL) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 202,259 shares of the financial services provider’s stock, valued at approximately $7,884,000. Wealthfront Advisers LLC owned 0.20% of Simply Good Foods as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently modified their holdings of the company. Stifel Financial Corp raised its stake in Simply Good Foods by 1.9% during the third quarter. Stifel Financial Corp now owns 26,688 shares of the financial services provider’s stock worth $928,000 after buying an additional 498 shares during the last quarter. Cynosure Group LLC increased its position in shares of Simply Good Foods by 4.9% during the third quarter. Cynosure Group LLC now owns 10,659 shares of the financial services provider’s stock worth $371,000 after acquiring an additional 500 shares in the last quarter. HighTower Advisors LLC increased its position in shares of Simply Good Foods by 3.9% during the third quarter. HighTower Advisors LLC now owns 13,504 shares of the financial services provider’s stock worth $473,000 after acquiring an additional 501 shares in the last quarter. Quarry LP boosted its holdings in Simply Good Foods by 64.7% during the third quarter. Quarry LP now owns 1,357 shares of the financial services provider’s stock worth $47,000 after purchasing an additional 533 shares during the last quarter. Finally, R Squared Ltd purchased a new position in Simply Good Foods during the fourth quarter worth about $26,000. Institutional investors and hedge funds own 88.45% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on SMPL shares. Mizuho cut their price target on shares of Simply Good Foods from $48.00 to $45.00 and set an “outperform” rating on the stock in a report on Friday, January 10th. Citigroup lowered their price target on shares of 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 equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $40.22.

Simply Good Foods Stock Performance

Simply Good Foods stock opened at $35.05 on Thursday. The firm’s 50 day simple moving average is $36.86 and its 200 day simple moving average is $36.13. The firm has a market capitalization of $3.54 billion, a PE ratio of 24.86, a price-to-earnings-growth ratio of 3.23 and a beta of 0.65. The Simply Good Foods Company has a 1-year low of $30.00 and a 1-year high of $40.53. The company has a current ratio of 4.23, a quick ratio of 2.75 and a debt-to-equity ratio of 0.20.

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