Oaktree Capital Management LP Purchases Shares of 1,128,889 The Simply Good Foods Company $SMPL

Oaktree Capital Management LP acquired a new position in The Simply Good Foods Company (NASDAQ:SMPL) during the first quarter, according to its most recent filing with the SEC. The firm acquired 1,128,889 shares of the financial services provider’s stock, valued at approximately $16,200,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Vanguard Group Inc. lifted its stake in Simply Good Foods by 2.4% in the fourth quarter. Vanguard Group Inc. now owns 10,631,429 shares of the financial services provider’s stock worth $213,479,000 after acquiring an additional 249,405 shares during the period. Dimensional Fund Advisors LP increased its position in Simply Good Foods by 8.8% during the 3rd quarter. Dimensional Fund Advisors LP now owns 4,288,680 shares of the financial services provider’s stock valued at $106,443,000 after purchasing an additional 346,395 shares during the period. State Street Corp raised its holdings in Simply Good Foods by 0.4% in the 2nd quarter. State Street Corp now owns 3,645,749 shares of the financial services provider’s stock worth $115,169,000 after purchasing an additional 14,089 shares in the last quarter. Boston Trust Walden Corp raised its holdings in Simply Good Foods by 10.0% in the 1st quarter. Boston Trust Walden Corp now owns 3,635,464 shares of the financial services provider’s stock worth $52,169,000 after purchasing an additional 330,330 shares in the last quarter. Finally, William Blair Investment Management LLC lifted its position in shares of Simply Good Foods by 28.4% in the 4th quarter. William Blair Investment Management LLC now owns 2,124,640 shares of the financial services provider’s stock worth $42,663,000 after purchasing an additional 469,903 shares during the period. Institutional investors own 88.45% of the company’s stock.

Simply Good Foods Trading Up 1.3%

Shares of NASDAQ SMPL opened at $10.38 on Friday. The Simply Good Foods Company has a 1 year low of $9.88 and a 1 year high of $31.05. 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 firm has a 50-day moving average of $12.06 and a 200 day moving average of $14.15. The stock has a market cap of $918.23 million, a P/E ratio of -4.78 and a beta of 0.13.

Simply Good Foods (NASDAQ:SMPL) last announced its quarterly earnings data on Thursday, July 9th. The financial services provider reported $0.42 earnings per share for the quarter, topping analysts’ consensus estimates of $0.35 by $0.07. Simply Good Foods had a negative net margin of 14.28% and a positive return on equity of 9.34%. The business had revenue of $356.98 million for the quarter, compared to analysts’ expectations of $332.99 million. During the same quarter in the prior year, the company earned $0.51 earnings per share. The business’s revenue was down 6.3% compared to the same quarter last year. As a group, sell-side analysts expect that The Simply Good Foods Company will post 1.54 EPS for the current fiscal year.

Analyst Ratings Changes

SMPL has been the topic of a number of research reports. TD Cowen reaffirmed a “hold” rating on shares of Simply Good Foods in a research note on Friday, July 10th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Simply Good Foods in a research report on Thursday, June 18th. Stephens reiterated an “equal weight” rating and set a $14.00 target price (down from $24.00) on shares of Simply Good Foods in a report on Friday, April 10th. Stifel Nicolaus lowered their target price on Simply Good Foods from $32.00 to $20.00 and set a “buy” rating for the company in a research note on Friday, April 10th. Finally, Sanford C. Bernstein lowered Simply Good Foods from an “outperform” rating to a “market perform” rating and dropped their price target for the company from $17.00 to $12.00 in a research report on Wednesday, June 3rd. Three equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $15.20.

Insider Activity at Simply Good Foods

In related news, Director Clayton C. Daley, Jr. purchased 10,000 shares of the company’s stock in a transaction dated Thursday, May 14th. The shares were purchased at an average cost of $11.78 per share, with a total value of $117,800.00. Following the transaction, the director directly owned 111,743 shares in the company, valued at $1,316,332.54. This trade represents a 9.83% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 8.76% of the stock is currently owned by corporate insiders.

Simply Good Foods 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.