Simply Good Foods (NASDAQ:SMPL) Trading Down 5.1% – Here’s Why

The Simply Good Foods Company (NASDAQ:SMPL)’s share price dropped 5.1% during trading on Monday . The company traded as low as $13.10 and last traded at $13.0340. Approximately 79,302 shares were traded during trading, a decline of 97% from the average daily volume of 2,525,961 shares. The stock had previously closed at $13.73.

Wall Street Analysts Forecast Growth

SMPL has been the topic of several research reports. Stifel Nicolaus dropped their target price on Simply Good Foods from $32.00 to $20.00 and set a “buy” rating on the stock in a research report 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. DA Davidson raised shares of Simply Good Foods to a “hold” rating in a report on Monday. Sanford C. Bernstein lowered shares of Simply Good Foods from an “outperform” rating to a “market perform” rating and cut their target price for the company from $17.00 to $12.00 in a research report on Wednesday, June 3rd. Finally, UBS Group reduced their target price on shares of Simply Good Foods from $13.00 to $12.00 and set a “neutral” rating for the company in a report on Tuesday, June 2nd. Three research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Simply Good Foods has an average rating of “Hold” and a consensus price target of $17.30.

Simply Good Foods Trading Up 1.6%

The stock has a 50 day moving average of $12.32 and a 200-day moving average of $15.15. The company has a market capitalization of $1.19 billion, a P/E ratio of -11.07 and a beta of 0.13. The company has a current ratio of 5.06, a quick ratio of 2.87 and a debt-to-equity ratio of 0.27.

Simply Good Foods (NASDAQ:SMPL) last issued its quarterly earnings results on Thursday, April 9th. The financial services provider reported $0.45 earnings per share for the quarter, beating the consensus estimate of $0.40 by $0.05. The business had revenue of $326.01 million for the quarter, compared to the consensus estimate 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 company’s revenue for the quarter was down 9.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.46 earnings per share. On average, research analysts predict that The Simply Good Foods Company will post 1.54 EPS for the current year.

Insiders Place Their Bets

In other Simply Good Foods news, Director Clayton C. Daley, Jr. purchased 10,000 shares of the firm’s stock in a transaction on Thursday, May 14th. The shares were acquired at an average cost of $11.78 per share, with a total value of $117,800.00. Following the completion of the acquisition, the director directly owned 111,743 shares in the company, valued at $1,316,332.54. The trade was a 9.83% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director James M. Kilts bought 80,000 shares of the business’s stock in a transaction that occurred on Thursday, April 23rd. The shares were acquired at an average price of $12.39 per share, with a total value of $991,200.00. Following the transaction, the director directly owned 172,854 shares of the company’s stock, valued at $2,141,661.06. This represents a 86.16% increase in their position. The disclosure for this purchase is available in the SEC filing. Corporate insiders own 8.76% of the company’s stock.

Hedge Funds Weigh In On Simply Good Foods

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. River Road Asset Management LLC purchased a new stake in shares of Simply Good Foods in the fourth quarter worth about $31,857,000. Marshall Wace LLP bought a new stake in Simply Good Foods in the 3rd quarter worth approximately $31,825,000. Oaktree Capital Management LP bought a new stake in Simply Good Foods in the 1st quarter worth approximately $16,200,000. Millennium Management LLC raised its holdings in shares of Simply Good Foods by 482.7% during the 3rd quarter. Millennium Management LLC now owns 1,246,236 shares of the financial services provider’s stock worth $30,932,000 after acquiring an additional 1,032,358 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its position in shares of Simply Good Foods by 179.7% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,472,753 shares of the financial services provider’s stock valued at $21,134,000 after acquiring an additional 946,216 shares during the last quarter. Institutional investors own 88.45% of the company’s stock.

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.