Principal Financial Group Inc. Lowers Stock Holdings in The Simply Good Foods Company (NASDAQ:SMPL)

Principal Financial Group Inc. lessened its stake in The Simply Good Foods Company (NASDAQ:SMPL - Free Report) by 32.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 998,706 shares of the financial services provider's stock after selling 476,030 shares during the quarter. Principal Financial Group Inc. owned 1.00% of Simply Good Foods worth $34,725,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in SMPL. Quarry LP acquired a new stake in Simply Good Foods in the second quarter valued at approximately $30,000. GAMMA Investing LLC raised its holdings in Simply Good Foods by 182.4% in the 2nd quarter. GAMMA Investing LLC now owns 850 shares of the financial services provider's stock valued at $31,000 after acquiring an additional 549 shares during the last quarter. EverSource Wealth Advisors LLC raised its holdings in Simply Good Foods by 236.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,766 shares of the financial services provider's stock valued at $60,000 after buying an additional 1,241 shares during the period. Innealta Capital LLC purchased a new position in Simply Good Foods in the 2nd quarter valued at approximately $71,000. Finally, Headlands Technologies LLC purchased a new stake in shares of Simply Good Foods during the 1st quarter worth $131,000. Hedge funds and other institutional investors own 88.45% of the company's stock.

Simply Good Foods Price Performance

SMPL traded down $0.05 during trading hours on Tuesday, hitting $36.83. The company's stock had a trading volume of 614,928 shares, compared to its average volume of 877,408. The business's 50-day moving average price is $33.91 and its 200-day moving average price is $34.91. The stock has a market cap of $3.69 billion, a price-to-earnings ratio of 26.72, a P/E/G ratio of 3.20 and a beta of 0.64. The Simply Good Foods Company has a 12 month low of $30.00 and a 12 month high of $43.00. The company has a current ratio of 4.05, a quick ratio of 2.75 and a debt-to-equity ratio of 0.23.

Simply Good Foods (NASDAQ:SMPL - Get Free Report) last announced its quarterly earnings data on Thursday, October 24th. The financial services provider reported $0.50 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.50. The company had revenue of $375.70 million during the quarter, compared to analysts' expectations of $373.07 million. Simply Good Foods had a net margin of 10.46% and a return on equity of 10.23%. Simply Good Foods's revenue was up 17.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.41 EPS. Sell-side analysts expect that The Simply Good Foods Company will post 1.76 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Joseph Scalzo sold 25,000 shares of the company's stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $35.99, for a total value of $899,750.00. Following the completion of the sale, the director now directly owns 139,204 shares in the company, valued at approximately $5,009,951.96. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 10.98% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Stephens dropped their target price on Simply Good Foods from $44.00 to $42.00 and set an "overweight" rating on the stock in a research report on Wednesday, October 23rd. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $40.50.

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.