Kestrel Investment Management Corp Increases Position in The Simply Good Foods Company $SMPL

Kestrel Investment Management Corp raised its holdings in shares of The Simply Good Foods Company (NASDAQ:SMPL) by 90.3% in the 1st quarter, Holdings Channel reports. The institutional investor owned 258,050 shares of the financial services provider’s stock after purchasing an additional 122,475 shares during the quarter. Simply Good Foods accounts for about 2.2% of Kestrel Investment Management Corp’s portfolio, making the stock its 21st largest position. Kestrel Investment Management Corp’s holdings in Simply Good Foods were worth $3,703,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. grew its position in Simply Good Foods by 2.4% in the 4th quarter. Vanguard Group Inc. now owns 10,631,429 shares of the financial services provider’s stock valued at $213,479,000 after acquiring an additional 249,405 shares during the last quarter. New Age Alpha Advisors LLC increased its stake in Simply Good Foods by 2,413.6% in the 4th quarter. New Age Alpha Advisors LLC now owns 173,414 shares of the financial services provider’s stock worth $3,482,000 after buying an additional 166,515 shares during the period. Pacer Advisors Inc. bought a new stake in Simply Good Foods during the 4th quarter valued at about $6,499,000. Tudor Investment Corp ET AL lifted its holdings in 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. boosted its position in Simply Good Foods by 230.7% in 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 during the period. Institutional investors own 88.45% of the company’s stock.

Simply Good Foods Trading Up 1.6%

SMPL opened at $12.07 on Friday. The company has a current ratio of 4.80, a quick ratio of 3.10 and a debt-to-equity ratio of 0.28. The firm has a market cap of $1.07 billion, a price-to-earnings ratio of -5.56 and a beta of 0.13. The Simply Good Foods Company has a 12 month low of $10.21 and a 12 month high of $33.64. The stock has a fifty day moving average price of $12.25 and a 200-day moving average price of $14.80.

Simply Good Foods (NASDAQ:SMPL) last issued 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 company had revenue of $356.98 million for the quarter, compared to the consensus estimate of $332.99 million. During the same quarter last year, the company earned $0.51 earnings per share. The firm’s revenue for the quarter was down 6.3% compared to the same quarter last year. As a group, equities research analysts anticipate that The Simply Good Foods Company will post 1.54 earnings per share for the current fiscal year.

Insider Transactions at Simply Good Foods

In other news, Director James M. Kilts acquired 80,000 shares of Simply Good Foods stock in a transaction that occurred on Thursday, April 23rd. The stock was purchased at an average price of $12.39 per share, for a total transaction of $991,200.00. Following the purchase, the director directly owned 172,854 shares in the company, valued at $2,141,661.06. The trade was a 86.16% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Clayton C. Daley, Jr. bought 10,000 shares of the firm’s stock in a transaction that occurred on 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 of the company’s stock, valued at $1,316,332.54. The trade was a 9.83% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 8.76% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. BTIG Research initiated coverage on Simply Good Foods in a report on Monday, April 13th. They issued a “neutral” rating for the company. Jefferies Financial Group set a $17.00 price objective on Simply Good Foods in a report on Tuesday, June 30th. Zacks Research raised Simply Good Foods from a “strong sell” rating to a “hold” rating in a research report on Monday, June 8th. DA Davidson lowered their target price on Simply Good Foods from $39.00 to $14.00 and set a “neutral” rating for the company in a report on Friday, July 10th. Finally, Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $14.00 price target on shares of Simply Good Foods in a research report on Friday, July 10th. Three analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $15.20.

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.