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

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

Wall Street Analyst Weigh In

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

Simply Good Foods Price Performance

The company has a quick ratio of 2.75, a current ratio of 4.05 and a debt-to-equity ratio of 0.23. The company has a market capitalization of $3.74 billion, a P/E ratio of 26.84, a price-to-earnings-growth ratio of 3.51 and a beta of 0.67. The business’s 50-day moving average is $38.05 and its two-hundred day moving average is $35.43.

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

Insider Buying and Selling

In other Simply Good Foods news, insider Timothy Richard Kraft sold 76,761 shares of the firm’s stock in a transaction 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 transaction, the insider now directly owns 40,068 shares of the company’s stock, valued at $1,506,556.80. This trade represents a 65.70 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Joseph Scalzo sold 2,374 shares of the company’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $36.23, for a total transaction of $86,010.02. Following the completion of the transaction, the director now directly owns 136,830 shares in the company, valued at approximately $4,957,350.90. The trade was a 1.71 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 327,869 shares of company stock valued at $12,139,570. Corporate insiders own 9.35% of the company’s stock.

Institutional Investors Weigh In On Simply Good Foods

Large investors have recently added to or reduced their stakes in the business. GAMMA Investing LLC grew its holdings in shares of Simply Good Foods by 215.6% during the fourth quarter. GAMMA Investing LLC now owns 1,758 shares of the financial services provider’s stock worth $69,000 after purchasing an additional 1,201 shares in the last quarter. Franklin Resources Inc. increased its holdings in shares of Simply Good Foods by 2.8% in the 3rd quarter. Franklin Resources Inc. now owns 1,065,941 shares of the financial services provider’s stock worth $36,402,000 after buying an additional 28,876 shares during the last quarter. Tidal Investments LLC raised its position 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 valued at $1,796,000 after buying an additional 15,455 shares in the last quarter. TD Private Client Wealth LLC lifted its holdings in shares of Simply Good Foods by 70.2% during the 3rd quarter. TD Private Client Wealth LLC now owns 4,575 shares of the financial services provider’s stock worth $159,000 after acquiring an additional 1,887 shares during the last quarter. Finally, Geode Capital Management LLC grew its position in Simply Good Foods by 0.5% in the third quarter. Geode Capital Management LLC now owns 2,142,679 shares of the financial services provider’s stock worth $74,515,000 after acquiring an additional 10,477 shares in the last quarter. Institutional investors own 88.45% of the company’s stock.

Simply Good Foods Company Profile

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.