Kestrel Investment Management Corp Takes $2.72 Million Position in The Simply Good Foods Company $SMPL

Key Points

• Kestrel Investment Management initiated a new position in Simply Good Foods during the fourth quarter, buying 135,575 shares valued at about $2.72 million.
• The company reported fiscal-quarter earnings of $0.45 per share, topping estimates, but revenue of $326.01 million missed expectations and fell 9.4% year over year.
• Analysts remain cautious overall: Simply Good Foods now has a Hold consensus rating, with several firms cutting price targets after the results, while director James M. Kilts separately bought 80,000 shares in April.

Kestrel Investment Management Corp purchased a new stake in shares of The Simply Good Foods Company (NASDAQ:SMPL - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 135,575 shares of the financial services provider's stock, valued at approximately $2,722,000. Kestrel Investment Management Corp owned about 0.15% of Simply Good Foods at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Y Intercept Hong Kong Ltd raised its holdings in shares of Simply Good Foods by 740.0% during the third quarter. Y Intercept Hong Kong Ltd now owns 162,845 shares of the financial services provider's stock valued at $4,042,000 after buying an additional 143,458 shares during the last quarter. Savoir Faire Capital Management L.P. raised its holdings in shares of Simply Good Foods by 96.8% during the third quarter. Savoir Faire Capital Management L.P. now owns 145,956 shares of the financial services provider's stock valued at $3,623,000 after buying an additional 71,773 shares during the last quarter. Tudor Investment Corp ET AL raised its holdings in shares of Simply Good Foods by 468.7% during the third 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 during the last quarter. Clark Estates Inc. NY bought a new stake in shares of Simply Good Foods during the third quarter valued at approximately $1,986,000. Finally, Magnetar Financial LLC raised its holdings in shares of Simply Good Foods by 134.0% during the third quarter. Magnetar Financial LLC now owns 141,076 shares of the financial services provider's stock valued at $3,502,000 after buying an additional 80,795 shares during the last quarter. Institutional investors own 88.45% of the company's stock.

Simply Good Foods Price Performance

NASDAQ SMPL opened at $12.26 on Friday. The company has a debt-to-equity ratio of 0.27, a current ratio of 5.06 and a quick ratio of 2.87. The firm has a market capitalization of $1.11 billion, a PE ratio of -10.30 and a beta of 0.21. The Simply Good Foods Company has a 12 month low of $10.21 and a 12 month high of $36.92. The company's 50 day simple moving average is $14.01 and its 200 day simple moving average is $17.50.

Simply Good Foods (NASDAQ:SMPL - Get Free Report) last posted its quarterly earnings results on Thursday, April 9th. The financial services provider reported $0.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.40 by $0.05. The firm had revenue of $326.01 million for the quarter, compared to analyst estimates of $345.08 million. Simply Good Foods had a negative net margin of 7.46% and a positive return on equity of 9.72%. The firm's quarterly revenue was down 9.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.46 earnings per share. As a group, equities research analysts forecast that The Simply Good Foods Company will post 1.54 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on SMPL shares. BTIG Research assumed coverage on Simply Good Foods in a report on Monday, April 13th. They set a "neutral" rating on the stock. Stifel Nicolaus lowered their price objective 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. UBS Group lowered their price objective on shares of Simply Good Foods from $16.00 to $13.00 and set a "neutral" rating on the stock in a research note on Friday, April 10th. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Simply Good Foods from $16.00 to $13.00 and set a "hold" rating on the stock in a research note on Friday, April 10th. Finally, Sanford C. Bernstein reiterated an "outperform" rating on shares of Simply Good Foods in a research note on Friday, January 9th. Five equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $21.64.

Insider Transactions at Simply Good Foods

In other Simply Good Foods news, Director James M. Kilts purchased 80,000 shares of the firm's stock in a transaction on Thursday, April 23rd. The shares were purchased at an average price of $12.39 per share, for a total transaction of $991,200.00. Following the completion of the transaction, the director owned 172,854 shares in the company, valued at $2,141,661.06. This represents a 86.16% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 8.76% of the company's stock.

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.

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