Simply Good Foods (NASDAQ:SMPL) Shares Down 6.2% – What’s Next?

The Simply Good Foods Company (NASDAQ:SMPL)’s stock price dropped 6.2% on Monday . The company traded as low as $36.95 and last traded at $37.06. Approximately 1,037,736 shares traded hands during mid-day trading, an increase of 25% from the average daily volume of 828,331 shares. The stock had previously closed at $39.50.

Analysts Set New Price Targets

A number of research analysts have commented on SMPL shares. Mizuho increased their price target on shares of Simply Good Foods from $40.00 to $45.00 and gave the company an “outperform” rating in a research report on Monday, December 9th. Stephens cut their price objective on shares of Simply Good Foods from $44.00 to $42.00 and set an “overweight” rating for the company in a research note on Wednesday, October 23rd. Finally, Citigroup reduced their price target on Simply Good Foods from $46.00 to $43.00 and set a “buy” rating on the stock in a research report on Thursday, November 14th. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $40.22.

Simply Good Foods Stock Down 6.2 %

The company has a debt-to-equity ratio of 0.23, a current ratio of 4.05 and a quick ratio of 2.75. The stock has a market capitalization of $3.74 billion, a PE ratio of 26.84, a PEG ratio of 3.51 and a beta of 0.67. The company has a 50 day moving average price of $38.05 and a 200-day moving average price of $35.43.

Simply Good Foods (NASDAQ:SMPL) last released its earnings results on Thursday, October 24th. The financial services provider reported $0.50 EPS for the quarter, meeting analysts’ consensus estimates of $0.50. Simply Good Foods had a return on equity of 10.23% and a net margin of 10.46%. The company had revenue of $375.70 million during the quarter, compared to analysts’ expectations of $373.07 million. During the same quarter last year, the business posted $0.41 EPS. The firm’s revenue for the quarter was up 17.3% compared to the same quarter last year. As a group, analysts forecast that The Simply Good Foods Company will post 1.77 earnings per share for the current fiscal year.

Insider Buying and Selling at Simply Good Foods

In related news, insider Timothy Richard Kraft sold 21,209 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $36.50, for a total value of $774,128.50. Following the transaction, the insider now directly owns 40,068 shares of the company’s stock, valued at approximately $1,462,482. The trade was a 34.61 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Joseph Scalzo sold 25,000 shares of the stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $35.99, for a total transaction of $899,750.00. Following the transaction, the director now directly owns 139,204 shares of the company’s stock, valued at $5,009,951.96. This trade represents a 15.22 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 327,869 shares of company stock worth $12,139,570. Insiders own 9.35% of the company’s stock.

Institutional Investors Weigh In On Simply Good Foods

A number of hedge funds have recently made changes to their positions in the company. GAMMA Investing LLC grew its holdings in Simply Good Foods by 215.6% during the 4th quarter. GAMMA Investing LLC now owns 1,758 shares of the financial services provider’s stock valued at $69,000 after buying an additional 1,201 shares in the last quarter. Franklin Resources Inc. boosted its position in shares of Simply Good Foods by 2.8% during the 3rd quarter. Franklin Resources Inc. now owns 1,065,941 shares of the financial services provider’s stock valued at $36,402,000 after acquiring an additional 28,876 shares during the last quarter. Tidal Investments LLC grew its holdings in shares of Simply Good Foods by 42.7% in the third quarter. Tidal Investments LLC now owns 51,664 shares of the financial services provider’s stock valued at $1,796,000 after purchasing an additional 15,455 shares in the last quarter. TD Private Client Wealth LLC increased its position in Simply Good Foods by 70.2% in the third quarter. TD Private Client Wealth LLC now owns 4,575 shares of the financial services provider’s stock worth $159,000 after purchasing an additional 1,887 shares during the last quarter. Finally, Geode Capital Management LLC raised its stake in Simply Good Foods by 0.5% during the third quarter. Geode Capital Management LLC now owns 2,142,679 shares of the financial services provider’s stock valued at $74,515,000 after purchasing an additional 10,477 shares in the last quarter. 88.45% of the stock is currently owned by hedge funds and other institutional investors.

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.