Deerfield Management Company L.P. Series C Purchases 10,525 Shares of The Simply Good Foods Company (NASDAQ:SMPL)

Deerfield Management Company L.P. Series C boosted its position in The Simply Good Foods Company (NASDAQ:SMPL) by 115.1% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 19,666 shares of the financial services provider’s stock after purchasing an additional 10,525 shares during the quarter. Deerfield Management Company L.P. Series C’s holdings in Simply Good Foods were worth $711,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Norges Bank purchased a new stake in shares of Simply Good Foods in the 4th quarter worth about $39,991,000. Armistice Capital LLC purchased a new stake in Simply Good Foods in the second quarter worth about $34,582,000. Champlain Investment Partners LLC increased its stake in shares of Simply Good Foods by 27.7% during 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. Victory Capital Management Inc. lifted its holdings in shares of Simply Good Foods by 107.0% during the second quarter. Victory Capital Management Inc. now owns 920,802 shares of the financial services provider’s stock valued at $33,269,000 after purchasing an additional 475,928 shares during the last quarter. Finally, Marshall Wace LLP lifted its holdings in shares of Simply Good Foods by 276.4% during the second quarter. Marshall Wace LLP now owns 536,174 shares of the financial services provider’s stock valued at $19,372,000 after purchasing an additional 393,720 shares during the last quarter. Hedge funds and other institutional investors own 88.45% of the company’s stock.

Insider Activity

In related news, SVP Stuart E. Jr. Heflin sold 1,058 shares of the firm’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $34.44, for a total value of $36,437.52. Following the sale, the senior vice president now owns 19,319 shares in the company, valued at $665,346.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 10.98% of the stock is owned by corporate insiders.

Simply Good Foods Stock Up 0.7 %

SMPL stock opened at $34.26 on Friday. The company has a debt-to-equity ratio of 0.14, a current ratio of 5.19 and a quick ratio of 4.05. The Simply Good Foods Company has a 1-year low of $30.00 and a 1-year high of $43.00. The stock has a market capitalization of $3.43 billion, a P/E ratio of 23.63, a P/E/G ratio of 2.26 and a beta of 0.62. The business has a fifty day moving average price of $33.16 and a 200-day moving average price of $34.72.

Simply Good Foods (NASDAQ:SMPL) last posted its earnings results on Thursday, June 27th. The financial services provider reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate 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 business had revenue of $334.80 million for the quarter, compared to analysts’ expectations of $337.66 million. During the same quarter in the prior year, the business earned $0.40 EPS. The business’s revenue for the quarter was up 3.1% compared to the same quarter last year. Equities analysts forecast that The Simply Good Foods Company will post 1.69 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

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