The Simply Good Foods Company (NASDAQ:SMPL) Holdings Raised by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA increased its position in shares of The Simply Good Foods Company (NASDAQ:SMPL) by 2.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 11,338 shares of the financial services provider’s stock after purchasing an additional 324 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Simply Good Foods were worth $442,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Captrust Financial Advisors acquired a new position in Simply Good Foods in the third quarter valued at approximately $238,000. HighTower Advisors LLC grew its stake in shares of Simply Good Foods by 3.9% in the third quarter. HighTower Advisors LLC now owns 13,504 shares of the financial services provider’s stock worth $473,000 after purchasing an additional 501 shares in the last quarter. Quarry LP increased its holdings in shares of Simply Good Foods by 64.7% during 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 during the period. Stifel Financial Corp raised its stake in shares of 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 valued at $928,000 after purchasing an additional 498 shares in the last quarter. Finally, State Street Corp lifted its holdings in Simply Good Foods by 6.0% in the third quarter. State Street Corp now owns 3,666,190 shares of the financial services provider’s stock worth $127,473,000 after purchasing an additional 208,070 shares during the period. Institutional investors and hedge funds own 88.45% of the company’s stock.

Simply Good Foods Stock Up 9.2 %

NASDAQ SMPL opened at $36.23 on Thursday. The stock’s 50 day simple moving average is $35.75 and its 200 day simple moving average is $36.27. The company has a debt-to-equity ratio of 0.20, a current ratio of 4.23 and a quick ratio of 2.75. The Simply Good Foods Company has a one year low of $31.25 and a one year high of $40.53. The firm has a market cap of $3.66 billion, a PE ratio of 25.70, a price-to-earnings-growth ratio of 3.23 and a beta of 0.63.

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

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on SMPL shares. Morgan Stanley initiated coverage on shares of Simply Good Foods in a report on Monday, March 24th. They issued an “equal weight” rating and a $36.00 price objective for the company. Mizuho dropped their price objective 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. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $39.56.

Simply Good Foods 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.