Shares of The Simply Good Foods Company (NASDAQ:SMPL – Get Free Report) traded down 3% during mid-day trading on Wednesday after Morgan Stanley lowered their price target on the stock from $46.00 to $42.00. Morgan Stanley currently has an overweight rating on the stock. Simply Good Foods traded as low as $34.32 and last traded at $34.66. 167,687 shares changed hands during mid-day trading, a decline of 80% from the average session volume of 819,247 shares. The stock had previously closed at $35.74.
Other equities analysts have also recently issued research reports about the company. DA Davidson dropped their price target on Simply Good Foods from $44.00 to $39.00 and set a “neutral” rating on the stock in a research report on Wednesday. Needham & Company LLC boosted their target price on Simply Good Foods from $42.00 to $45.00 and gave the stock a “buy” rating in a research report on Friday, January 5th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $42.00 target price (up previously from $41.00) on shares of Simply Good Foods in a research report on Tuesday, January 2nd. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $42.13.
Insider Transactions at Simply Good Foods
In other news, Director Brian K. Ratzan sold 30,768 shares of the business’s stock in a transaction that occurred on Thursday, January 4th. The stock was sold at an average price of $42.73, for a total transaction of $1,314,716.64. Following the sale, the director now owns 2,195,560 shares of the company’s stock, valued at approximately $93,816,278.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, SVP Stuart E. Jr. Heflin sold 1,048 shares of the company’s stock in a transaction that occurred on Monday, January 8th. The stock was sold at an average price of $40.45, for a total value of $42,391.60. Following the sale, the senior vice president now owns 21,084 shares of the company’s stock, valued at approximately $852,847.80. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Brian K. Ratzan sold 30,768 shares of the company’s stock in a transaction that occurred on Thursday, January 4th. The shares were sold at an average price of $42.73, for a total value of $1,314,716.64. Following the completion of the sale, the director now directly owns 2,195,560 shares in the company, valued at approximately $93,816,278.80. The disclosure for this sale can be found here. Insiders have sold 69,326 shares of company stock valued at $2,877,965 in the last quarter. 10.98% of the stock is currently owned by corporate insiders.
Institutional Trading of Simply Good Foods
A number of institutional investors and hedge funds have recently made changes to their positions in the company. BlackRock Inc. increased its holdings in shares of Simply Good Foods by 0.5% during the 1st quarter. BlackRock Inc. now owns 12,961,325 shares of the financial services provider’s stock worth $491,882,000 after buying an additional 60,072 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of Simply Good Foods by 2.4% during the 3rd quarter. Vanguard Group Inc. now owns 10,992,510 shares of the financial services provider’s stock worth $379,461,000 after buying an additional 259,144 shares during the last quarter. Capital World Investors increased its holdings in shares of Simply Good Foods by 8.4% during the 1st quarter. Capital World Investors now owns 5,770,500 shares of the financial services provider’s stock worth $218,990,000 after buying an additional 446,000 shares during the last quarter. T. Rowe Price Investment Management Inc. increased its holdings in Simply Good Foods by 22.0% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 3,106,381 shares of the financial services provider’s stock valued at $118,136,000 after purchasing an additional 559,980 shares in the last quarter. Finally, State Street Corp increased its holdings in Simply Good Foods by 3.2% in the 2nd quarter. State Street Corp now owns 3,037,399 shares of the financial services provider’s stock valued at $111,138,000 after purchasing an additional 95,130 shares in the last quarter. 88.15% of the stock is currently owned by institutional investors and hedge funds.
Simply Good Foods Trading Down 6.3 %
The stock has a market capitalization of $3.34 billion, a price-to-earnings ratio of 25.74, a P/E/G ratio of 2.23 and a beta of 0.70. The company has a debt-to-equity ratio of 0.17, a quick ratio of 3.46 and a current ratio of 5.02. The firm has a fifty day moving average of $36.91 and a 200-day moving average of $36.96.
Simply Good Foods (NASDAQ:SMPL – Get Free Report) last announced its quarterly earnings results on Thursday, January 4th. The financial services provider reported $0.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.40 by $0.03. Simply Good Foods had a return on equity of 9.95% and a net margin of 10.66%. The firm had revenue of $308.70 million during the quarter, compared to the consensus estimate of $309.26 million. During the same period in the prior year, the firm earned $0.40 EPS. The firm’s quarterly revenue was up 2.6% compared to the same quarter last year. As a group, equities analysts predict that The Simply Good Foods Company will post 1.71 earnings per share for the current fiscal year.
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.