Dimensional Fund Advisors LP Has $43.14 Million Stock Holdings in The Simply Good Foods Company $SMPL

Key Points

• Dimensional Fund Advisors cut its Simply Good Foods stake by 24.3% in the first quarter, selling 966,917 shares but retaining 3.01 million shares worth approximately $43.14 million. Institutional investors and hedge funds collectively own 88.45% of the company.
• Simply Good Foods reported quarterly EPS of $0.42, exceeding analyst expectations of $0.35, while revenue reached $356.98 million. However, revenue declined 6.3% year over year and the company posted a negative net margin.
• Analysts maintain a consensus “Hold” rating with an average price target of $15.20, compared with shares opening at $11.32. Director Clayton C. Daley Jr. also purchased 10,000 shares, increasing his ownership by 9.83%.

Dimensional Fund Advisors LP trimmed its position in The Simply Good Foods Company (NASDAQ:SMPL - Free Report) by 24.3% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,006,266 shares of the financial services provider's stock after selling 966,917 shares during the period. Dimensional Fund Advisors LP owned approximately 3.32% of Simply Good Foods worth $43,142,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. California State Teachers Retirement System boosted its holdings in Simply Good Foods by 0.4% in the second quarter. California State Teachers Retirement System now owns 88,477 shares of the financial services provider's stock worth $2,795,000 after acquiring an additional 383 shares in the last quarter. EverSource Wealth Advisors LLC increased its holdings in shares of Simply Good Foods by 125.4% during the second quarter. EverSource Wealth Advisors LLC now owns 967 shares of the financial services provider's stock valued at $31,000 after acquiring an additional 538 shares in the last quarter. AQR Capital Management LLC increased its holdings in shares of Simply Good Foods by 3.4% during the first quarter. AQR Capital Management LLC now owns 19,018 shares of the financial services provider's stock valued at $656,000 after acquiring an additional 617 shares in the last quarter. Cerity Partners LLC increased its holdings in shares of Simply Good Foods by 4.1% during the fourth quarter. Cerity Partners LLC now owns 18,000 shares of the financial services provider's stock valued at $361,000 after acquiring an additional 701 shares in the last quarter. Finally, Gamco Investors INC. ET AL raised its position in shares of Simply Good Foods by 3.4% during the second quarter. Gamco Investors INC. ET AL now owns 23,120 shares of the financial services provider's stock worth $730,000 after purchasing an additional 750 shares during the period. 88.45% of the stock is owned by institutional investors and hedge funds.

Simply Good Foods Stock Up 11.2%

Shares of NASDAQ:SMPL opened at $11.32 on Tuesday. The business's 50 day moving average is $12.02 and its 200 day moving average is $14.01. The Simply Good Foods Company has a 12-month low of $9.88 and a 12-month high of $30.91. The stock has a market cap of $1.00 billion, a price-to-earnings ratio of -5.22 and a beta of 0.15. The company has a quick ratio of 3.10, a current ratio of 4.80 and a debt-to-equity ratio of 0.28.

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

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on SMPL. Jefferies Financial Group set a $17.00 target price on Simply Good Foods in a report on Tuesday, June 30th. Stifel Nicolaus decreased their price target on shares of 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. Sanford C. Bernstein downgraded shares of Simply Good Foods from an "outperform" rating to a "market perform" rating and lowered their price objective for the stock from $17.00 to $12.00 in a report on Wednesday, June 3rd. UBS Group set a $15.00 price objective on shares of Simply Good Foods in a research note on Friday, July 10th. Finally, Morgan Stanley reduced their price objective on shares of Simply Good Foods from $24.00 to $14.00 and set an "equal weight" rating for the company in a report on Friday, April 10th. Three analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $15.20.

Insider Buying and Selling at Simply Good Foods

In other news, Director Clayton C. Daley, Jr. purchased 10,000 shares of the company's stock in a transaction that occurred on Thursday, May 14th. The shares were bought at an average cost of $11.78 per share, with a total value of $117,800.00. Following the completion of the transaction, the director directly 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 acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. 8.76% of the stock is owned by insiders.

About Simply Good Foods

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.

Want to see what other hedge funds are holding SMPL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Simply Good Foods Company (NASDAQ:SMPL - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.