TimesSquare Capital Management, an equity investment management company, released its “U.S. Small Cap Growth Strategy” first-quarter 2024 investor letter. A copy of the letter can be downloaded here. In the quarter the fund returned 5.77% (net), compared to a 7.58% return for the Russell 2000 Growth Index. Despite a decline in many equity markets in January, they rebounded over the following two months, resulting in a robust 2024 first quarter. In addition, please check the fund’s top five holdings to know its best picks in 2024.
TimesSquare Capital U.S. Small Cap Growth Strategy highlighted stocks like The Simply Good Foods Company (NASDAQ:SMPL), in the first quarter 2024 investor letter. The Simply Good Foods Company (NASDAQ:SMPL) is a consumer-packaged food and beverage company. The one-month return of The Simply Good Foods Company (NASDAQ:SMPL) was -2.64%, and its shares lost 0.38% of their value over the last 52 weeks. On June 18, 2024, The Simply Good Foods Company (NASDAQ:SMPL) stock closed at $36.50 per share with a market capitalization of $3.65 billion.
TimesSquare Capital U.S. Small Cap Growth Strategy stated the following regarding The Simply Good Foods Company (NASDAQ:SMPL) in its first quarter 2024 investor letter:
“Our preferences in the Consumer-oriented sectors lean toward value-oriented or specialty retailers, franchise models, or premium brands. The Simply Good Foods Company (NASDAQ:SMPL) is a consumer-packaged food and beverage company focused on nutritional food and snacking products. We anticipated decelerating trends across their Quest and Atkins brands, so we sold out of the position. Its stock was down -9% for the time it was held in the quarter.”
A close up of a hand of a a child holding a freshly opened packet of the company’s popular ready-to-drink shake.
The Simply Good Foods Company (NASDAQ:SMPL) is not on our list of 31 Most Popular Stocks Among Hedge Funds. As per our database, 25 hedge fund portfolios held The Simply Good Foods Company (NASDAQ:SMPL) at the end of the first quarter which was 18 in the previous quarter. The Simply Good Foods Company’s (NASDAQ:SMPL) net sales increased 5.3% in the second quarter of its fiscal year 2024 (see the details here). While we acknowledge the potential of The Simply Good Foods Company (NASDAQ:SMPL) as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns, and doing so within a shorter timeframe. If you are looking for an AI stock that is as promising as NVIDIA but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.
In addition, please check out our hedge fund investor letters Q1 2024 page for more investor letters from hedge funds and other leading investors.
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Disclosure: None. This article is originally published at Insider Monkey.
