Simply Good Foods (NASDAQ:SMPL) Posts Earnings Results, Beats Expectations By $0.07 EPS

Simply Good Foods (NASDAQ:SMPL) posted its quarterly earnings data on Thursday. The financial services provider reported $0.42 EPS for the quarter, beating the consensus estimate of $0.35 by $0.07, FiscalAI reports. The business had revenue of $356.98 million for the quarter, compared to the consensus estimate of $332.99 million. Simply Good Foods had a positive return on equity of 9.72% and a negative net margin of 7.46%.

Simply Good Foods Price Performance

SMPL opened at $12.84 on Thursday. Simply Good Foods has a 12-month low of $10.21 and a 12-month high of $34.19. The stock’s 50-day moving average price is $12.31 and its 200 day moving average price is $15.11. The company has a current ratio of 5.06, a quick ratio of 2.87 and a debt-to-equity ratio of 0.27. The firm has a market cap of $1.16 billion, a price-to-earnings ratio of -10.79 and a beta of 0.13.

Insider Buying and Selling

In other Simply Good Foods news, Director Clayton C. Daley, Jr. bought 10,000 shares of the company’s stock in a transaction on Thursday, May 14th. The shares were bought at an average price of $11.78 per share, for a total transaction of $117,800.00. Following the transaction, the director 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 position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director James M. Kilts purchased 80,000 shares of the stock in a transaction dated Thursday, April 23rd. The shares were bought at an average cost of $12.39 per share, for a total transaction of $991,200.00. Following the completion of the purchase, the director owned 172,854 shares in the company, valued at approximately $2,141,661.06. This trade represents a 86.16% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 8.76% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Simply Good Foods

Hedge funds have recently modified their holdings of the stock. Royal Bank of Canada increased its holdings in Simply Good Foods by 9.0% during the 1st quarter. Royal Bank of Canada now owns 71,023 shares of the financial services provider’s stock worth $2,448,000 after purchasing an additional 5,893 shares during 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 purchasing an additional 617 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Simply Good Foods by 5.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 54,819 shares of the financial services provider’s stock worth $1,891,000 after buying an additional 2,850 shares in the last quarter. Caxton Associates LLP acquired a new stake in Simply Good Foods in the first quarter worth approximately $264,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Simply Good Foods by 10.7% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 224,229 shares of the financial services provider’s stock valued at $7,734,000 after buying an additional 21,696 shares during the period. 88.45% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

SMPL has been the topic of a number of analyst reports. Sanford C. Bernstein cut shares of Simply Good Foods from an “outperform” rating to a “market perform” rating and dropped their price target for the stock from $17.00 to $12.00 in a research note on Wednesday, June 3rd. DA Davidson upgraded shares of Simply Good Foods to a “hold” rating in a research report on Monday. BTIG Research initiated coverage on Simply Good Foods in a research report on Monday, April 13th. They set a “neutral” rating for the company. Weiss Ratings restated a “sell (d)” rating on shares of Simply Good Foods in a research report on Thursday, June 18th. Finally, Zacks Research upgraded shares of Simply Good Foods from a “strong sell” rating to a “hold” rating in a report on Monday, June 8th. Three research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $17.30.

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.