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

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

Analyst Ratings Changes

Several brokerages recently weighed in on SMPL. Stephens cut their price objective on shares of 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. Mizuho raised their price target on shares of Simply Good Foods from $40.00 to $45.00 and gave the company an "outperform" rating in a research note on Monday, December 9th. Finally, Citigroup reduced their price objective on Simply Good Foods from $46.00 to $43.00 and set a "buy" rating for the company in a research report on Thursday, November 14th. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat, Simply Good Foods presently has an average rating of "Moderate Buy" and an average target price of $40.22.

Simply Good Foods Price Performance

The stock has a market capitalization of $3.74 billion, a price-to-earnings ratio of 26.84, a P/E/G ratio of 3.51 and a beta of 0.67. The business has a 50-day simple moving average of $38.12 and a two-hundred day simple moving average of $35.44. The company has a quick ratio of 2.75, a current ratio of 4.05 and a debt-to-equity ratio of 0.23.

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

Insider Activity at Simply Good Foods

In other Simply Good Foods news, insider Timothy Richard Kraft sold 76,761 shares of the business's stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $37.60, for a total transaction of $2,886,213.60. Following the sale, the insider now owns 40,068 shares in the company, valued at approximately $1,506,556.80. The trade was a 65.70 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Joseph Scalzo sold 25,000 shares of the company's stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $35.99, for a total transaction of $899,750.00. Following the sale, the director now directly owns 139,204 shares of the company's stock, valued at $5,009,951.96. This represents a 15.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 327,869 shares of company stock valued at $12,139,570 over the last ninety days. Insiders own 9.35% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Massachusetts Financial Services Co. MA acquired a new position in Simply Good Foods in the 3rd quarter valued at approximately $27,391,000. Mutual of America Capital Management LLC boosted its position in Simply Good Foods by 21.0% during the third quarter. Mutual of America Capital Management LLC now owns 187,549 shares of the financial services provider's stock valued at $6,521,000 after purchasing an additional 32,561 shares during the last quarter. Quest Partners LLC lifted its holdings in shares of Simply Good Foods by 65.0% during the 3rd quarter. Quest Partners LLC now owns 41,277 shares of the financial services provider's stock valued at $1,435,000 after buying an additional 16,268 shares during the last quarter. Tidal Investments LLC grew its stake in shares of Simply Good Foods by 42.7% in 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. Finally, FMR LLC grew its position in Simply Good Foods by 20.0% in the third quarter. FMR LLC now owns 5,128,827 shares of the financial services provider's stock worth $178,329,000 after acquiring an additional 855,070 shares in the last quarter. Hedge funds and other institutional investors own 88.45% of the company's stock.

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.