Simply Good Foods (NASDAQ:SMPL) Price Target Cut to $45.00 by Analysts at Mizuho

Simply Good Foods (NASDAQ:SMPL) had its target price lowered by Mizuho from $48.00 to $45.00 in a report published on Friday morning,Benzinga reports. Mizuho currently has an outperform rating on the financial services provider’s stock.

Other equities analysts have also issued research reports about the stock. Stephens dropped 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 report on Wednesday, October 23rd. Citigroup decreased their target price 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 given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $40.22.

Simply Good Foods Stock Down 4.1 %

Shares of Simply Good Foods stock opened at $34.36 on Friday. The stock’s 50-day moving average is $38.26 and its 200 day moving average is $35.44. Simply Good Foods has a one year low of $30.00 and a one year high of $42.37. The firm has a market cap of $3.47 billion, a price-to-earnings ratio of 24.90, a PEG ratio of 3.51 and a beta of 0.67. The company has a debt-to-equity ratio of 0.23, a current ratio of 4.05 and a quick ratio of 2.75.

Simply Good Foods (NASDAQ:SMPL) last posted its quarterly earnings results on Wednesday, January 8th. The financial services provider reported $0.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.43 by $0.06. The firm had revenue of $341.30 million for the quarter, compared to analysts’ expectations of $347.32 million. Simply Good Foods had a return on equity of 10.23% and a net margin of 10.46%. The company’s revenue for the quarter was up 10.6% compared to the same quarter last year. During the same period in the prior year, the business earned $0.43 EPS. Equities research analysts anticipate that Simply Good Foods will post 1.77 EPS for the current year.

Insider Activity

In related news, insider Timothy Richard Kraft sold 21,209 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $36.50, for a total transaction of $774,128.50. Following the completion of the transaction, the insider now owns 40,068 shares in the company, valued at $1,462,482. This represents a 34.61 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 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 owns 136,830 shares of the company’s stock, valued at $4,957,350.90. This trade represents a 1.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 327,869 shares of company stock valued at $12,139,570. Corporate insiders own 9.35% of the company’s stock.

Hedge Funds Weigh In On Simply Good Foods

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Quarry LP purchased a new stake in shares of Simply Good Foods in the second quarter worth $30,000. EverSource Wealth Advisors LLC grew its position in Simply Good Foods by 236.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,766 shares of the financial services provider’s stock valued at $60,000 after purchasing an additional 1,241 shares during the last quarter. GAMMA Investing LLC increased its stake in Simply Good Foods by 215.6% during the 4th quarter. GAMMA Investing LLC now owns 1,758 shares of the financial services provider’s stock valued at $69,000 after purchasing an additional 1,201 shares in the last quarter. KBC Group NV increased its stake in Simply Good Foods by 31.9% during the 3rd quarter. KBC Group NV now owns 3,084 shares of the financial services provider’s stock valued at $107,000 after purchasing an additional 746 shares in the last quarter. Finally, Canada Pension Plan Investment Board purchased a new position in Simply Good Foods in the second quarter worth about $159,000. 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.