Dark Forest Capital Management LP Purchases New Stake in The Simply Good Foods Company (NASDAQ:SMPL)

Dark Forest Capital Management LP acquired a new position in shares of The Simply Good Foods Company (NASDAQ:SMPL) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 7,094 shares of the financial services provider’s stock, valued at approximately $256,000.

Several other institutional investors have also made changes to their positions in the stock. Vanguard Group Inc. increased its position in Simply Good Foods by 1.6% during the first quarter. Vanguard Group Inc. now owns 11,099,351 shares of the financial services provider’s stock worth $377,711,000 after buying an additional 174,157 shares during the last quarter. Champlain Investment Partners LLC raised its stake in shares of Simply Good Foods by 27.7% in the first quarter. Champlain Investment Partners LLC now owns 3,939,494 shares of the financial services provider’s stock valued at $134,061,000 after purchasing an additional 854,550 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Simply Good Foods by 6.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,223,666 shares of the financial services provider’s stock worth $116,468,000 after acquiring an additional 203,914 shares during the period. Principal Financial Group Inc. boosted its position in shares of Simply Good Foods by 14.3% during the 2nd quarter. Principal Financial Group Inc. now owns 1,474,736 shares of the financial services provider’s stock valued at $53,282,000 after acquiring an additional 184,539 shares in the last quarter. Finally, Congress Asset Management Co. MA raised its position in Simply Good Foods by 7.4% in the first quarter. Congress Asset Management Co. MA now owns 1,313,011 shares of the financial services provider’s stock worth $44,682,000 after purchasing an additional 90,154 shares in the last quarter. 88.45% of the stock is currently owned by institutional investors and hedge funds.

Simply Good Foods Stock Performance

Shares of NASDAQ SMPL opened at $34.70 on Monday. The stock has a 50 day moving average of $33.13 and a 200-day moving average of $34.74. The Simply Good Foods Company has a 12 month low of $30.00 and a 12 month high of $43.00. The company has a market capitalization of $3.47 billion, a P/E ratio of 23.93, a P/E/G ratio of 2.28 and a beta of 0.62. The company has a current ratio of 5.19, a quick ratio of 4.05 and a debt-to-equity ratio of 0.14.

Simply Good Foods (NASDAQ:SMPL) last posted its quarterly earnings data on Thursday, June 27th. The financial services provider reported $0.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.02. Simply Good Foods had a net margin of 11.49% and a return on equity of 10.28%. The firm had revenue of $334.80 million during the quarter, compared to the consensus estimate of $337.66 million. During the same quarter in the previous year, the firm posted $0.40 EPS. The business’s revenue for the quarter was up 3.1% compared to the same quarter last year. As a group, equities research analysts predict that The Simply Good Foods Company will post 1.69 EPS for the current year.

Insider Activity at Simply Good Foods

In other Simply Good Foods news, SVP Stuart E. Jr. Heflin sold 1,058 shares of the business’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $34.44, for a total transaction of $36,437.52. Following the sale, the senior vice president now owns 19,319 shares of the company’s stock, valued at $665,346.36. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 10.98% of the stock is currently owned by insiders.

Analyst Ratings Changes

SMPL has been the topic of several recent analyst reports. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Simply Good Foods from $36.00 to $37.00 and gave the company a “hold” rating in a research note on Friday, June 14th. DA Davidson raised their price objective on shares of Simply Good Foods from $35.00 to $38.00 and gave the company a “neutral” rating in a research report on Monday, July 1st. Stifel Nicolaus lifted their target price on Simply Good Foods from $38.00 to $40.00 and gave the company a “buy” rating in a research note on Friday, June 14th. Finally, Needham & Company LLC reissued a “buy” rating and set a $41.00 price target on shares of Simply Good Foods in a research note on Friday, June 28th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $40.29.

About Simply Good Foods

The Simply Good Foods Company operates as a consumer-packaged food and beverage company in North America and internationally. The company develops, markets, and sells snacks and meal replacements. It offers protein bars, ready-to-drink shakes, sweet and salty snacks, cookies, protein chips, and recipes under the Atkins and Quest brand names.