Oaktree Capital Management LP Takes $16.20 Million Position in The Simply Good Foods Company $SMPL

Oaktree Capital Management LP bought a new stake in The Simply Good Foods Company (NASDAQ:SMPL) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 1,128,889 shares of the financial services provider’s stock, valued at approximately $16,200,000. Oaktree Capital Management LP owned 1.25% of Simply Good Foods as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in SMPL. Vanguard Group Inc. raised its position in Simply Good Foods by 2.4% during the fourth quarter. Vanguard Group Inc. now owns 10,631,429 shares of the financial services provider’s stock valued at $213,479,000 after purchasing an additional 249,405 shares in the last quarter. Pacer Advisors Inc. purchased a new position in shares of Simply Good Foods in the 4th quarter worth about $6,499,000. New Age Alpha Advisors LLC increased its position in shares of Simply Good Foods by 2,413.6% during the 4th quarter. New Age Alpha Advisors LLC now owns 173,414 shares of the financial services provider’s stock valued at $3,482,000 after purchasing an additional 166,515 shares during the last quarter. Tudor Investment Corp ET AL raised its holdings in shares of Simply Good Foods by 468.7% during the 3rd quarter. Tudor Investment Corp ET AL now owns 208,385 shares of the financial services provider’s stock valued at $5,172,000 after buying an additional 171,745 shares in the last quarter. Finally, Bessemer Group Inc. raised its holdings in shares of Simply Good Foods by 230.7% during the 4th quarter. Bessemer Group Inc. now owns 690,863 shares of the financial services provider’s stock valued at $13,873,000 after buying an additional 481,952 shares in the last quarter. Institutional investors and hedge funds own 88.45% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $14.00 target price on shares of Simply Good Foods in a research note on Friday, July 10th. Stifel Nicolaus lowered their price objective on shares of Simply Good Foods from $32.00 to $20.00 and set a “buy” rating for the company in a report on Friday, April 10th. BTIG Research assumed coverage on shares of Simply Good Foods in a research note on Monday, April 13th. They issued a “neutral” rating for the company. Jefferies Financial Group set a $17.00 target price on shares of Simply Good Foods in a report on Tuesday, June 30th. Finally, Morgan Stanley decreased their target price on shares of Simply Good Foods from $24.00 to $14.00 and set an “equal weight” rating on the stock in a research report on Friday, April 10th. Three research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $15.20.

Simply Good Foods Price Performance

Shares of Simply Good Foods stock opened at $10.38 on Friday. The company has a debt-to-equity ratio of 0.28, a current ratio of 4.80 and a quick ratio of 3.10. The Simply Good Foods Company has a one year low of $9.88 and a one year high of $31.05. The business’s 50 day simple moving average is $12.06 and its two-hundred day simple moving average is $14.15. The stock has a market capitalization of $918.23 million, a P/E ratio of -4.78 and a beta of 0.13.

Simply Good Foods (NASDAQ:SMPL) last released its quarterly earnings data on Thursday, July 9th. The financial services provider reported $0.42 earnings per share for the quarter, beating analysts’ consensus estimates of $0.35 by $0.07. Simply Good Foods had a positive return on equity of 9.34% and a negative net margin of 14.28%.The firm had revenue of $356.98 million during the quarter, compared to analyst estimates of $332.99 million. During the same quarter in the prior year, the firm posted $0.51 earnings per share. The business’s quarterly revenue was down 6.3% compared to the same quarter last year. Analysts forecast that The Simply Good Foods Company will post 1.54 EPS for the current year.

Insider Buying and Selling

In other news, Director Clayton C. Daley, Jr. purchased 10,000 shares of the company’s stock in a transaction on Thursday, May 14th. The stock was acquired at an average price of $11.78 per share, with a total value of $117,800.00. Following the transaction, the director directly owned 111,743 shares of the company’s stock, valued at approximately $1,316,332.54. This represents a 9.83% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 8.76% of the stock is owned by corporate insiders.

Simply Good Foods Company Profile

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.