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

Oaktree Capital Management LP bought a new position in The Simply Good Foods Company (NASDAQ:SMPL) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm 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.

Other institutional investors and hedge funds have also recently modified their holdings of the company. EverSource Wealth Advisors LLC lifted its stake in Simply Good Foods by 125.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 967 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 538 shares in the last quarter. Johnson Financial Group Inc. purchased a new position in shares of Simply Good Foods during the 3rd quarter valued at $36,000. Hantz Financial Services Inc. increased its holdings in shares of Simply Good Foods by 82.3% in the fourth quarter. Hantz Financial Services Inc. now owns 1,787 shares of the financial services provider’s stock worth $36,000 after purchasing an additional 807 shares during the period. Parallel Advisors LLC raised its position in shares of Simply Good Foods by 167.4% in the fourth quarter. Parallel Advisors LLC now owns 2,126 shares of the financial services provider’s stock worth $43,000 after buying an additional 1,331 shares in the last quarter. Finally, Leonteq Securities AG raised its position in shares of Simply Good Foods by 96.2% in the first quarter. Leonteq Securities AG now owns 2,309 shares of the financial services provider’s stock worth $33,000 after buying an additional 1,132 shares in the last quarter. 88.45% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

SMPL has been the subject of several recent analyst reports. Zacks Research upgraded Simply Good Foods from a “strong sell” rating to a “hold” rating in a research report on Monday, June 8th. Weiss Ratings reiterated a “sell (d)” rating on shares of Simply Good Foods in a research report on Thursday, June 18th. Stephens reissued an “equal weight” rating and set a $14.00 price objective (down from $24.00) on shares of Simply Good Foods in a report on Friday, April 10th. Stifel Nicolaus lowered their target price on shares of Simply Good Foods from $32.00 to $20.00 and set a “buy” rating on the stock in a research note on Friday, April 10th. Finally, TD Cowen reiterated a “hold” rating 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 assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $15.20.

Simply Good Foods Price Performance

Shares of NASDAQ:SMPL opened at $10.25 on Thursday. The company has a quick ratio of 3.10, a current ratio of 4.80 and a debt-to-equity ratio of 0.28. The stock has a market cap of $906.72 million, a PE ratio of -4.72 and a beta of 0.13. The company’s fifty day moving average is $12.08 and its 200 day moving average is $14.23. The Simply Good Foods Company has a 52 week low of $10.12 and a 52 week high of $31.82.

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

Insider Activity

In other news, Director Clayton C. Daley, Jr. bought 10,000 shares of the business’s stock in a transaction dated Thursday, May 14th. The shares were purchased at an average price of $11.78 per share, for a total transaction of $117,800.00. Following the completion of the acquisition, the director owned 111,743 shares of the company’s stock, valued at approximately $1,316,332.54. This trade represents a 9.83% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 8.76% of the company’s stock.

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.