Simply Good Foods (NASDAQ:SMPL) Trading Down 6.2% – Here’s Why

Shares of The Simply Good Foods Company (NASDAQ:SMPL) fell 6.2% during trading on Monday . The stock traded as low as $36.95 and last traded at $37.06. 1,037,736 shares were traded during trading, an increase of 25% from the average session volume of 828,331 shares. The stock had previously closed at $39.50.

Analysts Set New Price Targets

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

Simply Good Foods Price Performance

The company’s 50-day simple moving average is $38.21 and its 200 day simple moving average is $35.44. The stock has a market capitalization of $3.62 billion, a price-to-earnings ratio of 25.97, a P/E/G ratio of 3.51 and a beta of 0.67. The company has a quick ratio of 2.75, a current ratio of 4.05 and a debt-to-equity ratio of 0.23.

Simply Good Foods (NASDAQ:SMPL) last issued its quarterly earnings data on Wednesday, January 8th. The financial services provider reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates of $0.43 by $0.06. The business had revenue of $341.30 million for the quarter, compared to the consensus estimate of $347.32 million. Simply Good Foods had a return on equity of 10.23% and a net margin of 10.46%. The firm’s revenue was up 10.6% compared to the same quarter last year. During the same period last year, the business earned $0.43 EPS. Equities research analysts forecast that The Simply Good Foods Company will post 1.77 EPS for the current year.

Insider Transactions at Simply Good Foods

In other Simply Good Foods news, Director Joseph Scalzo sold 2,374 shares of Simply Good Foods stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $36.23, for a total value of $86,010.02. Following the transaction, the director now directly owns 136,830 shares of the company’s stock, valued at $4,957,350.90. The trade was a 1.71 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Timothy Richard Kraft sold 76,761 shares of the stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $37.60, for a total value of $2,886,213.60. Following the completion of the sale, the insider now directly owns 40,068 shares of the company’s stock, valued at $1,506,556.80. This represents a 65.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 327,869 shares of company stock worth $12,139,570. 9.35% of the stock is owned by insiders.

Institutional Trading of Simply Good Foods

Several hedge funds and other institutional investors have recently bought and sold shares of SMPL. Massachusetts Financial Services Co. MA bought a new stake in shares of Simply Good Foods in the third quarter valued at about $27,391,000. Mutual of America Capital Management LLC raised its holdings in Simply Good Foods by 21.0% in the 3rd quarter. Mutual of America Capital Management LLC now owns 187,549 shares of the financial services provider’s stock valued at $6,521,000 after acquiring an additional 32,561 shares in the last quarter. Quest Partners LLC lifted its position in shares of Simply Good Foods by 65.0% in the 3rd quarter. Quest Partners LLC now owns 41,277 shares of the financial services provider’s stock worth $1,435,000 after acquiring an additional 16,268 shares during the period. Tidal Investments LLC grew its holdings in shares of Simply Good Foods by 42.7% during the 3rd quarter. Tidal Investments LLC now owns 51,664 shares of the financial services provider’s stock worth $1,796,000 after purchasing an additional 15,455 shares in the last quarter. Finally, FMR LLC increased its position in shares of Simply Good Foods by 20.0% during the third quarter. FMR LLC now owns 5,128,827 shares of the financial services provider’s stock valued at $178,329,000 after purchasing an additional 855,070 shares during the period. 88.45% of the stock is currently owned by institutional investors and hedge funds.

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.