Simply Good Foods (NASDAQ:SMPL) Trading Down 2.5% After Insider Selling

The Simply Good Foods Company (NASDAQ:SMPL) shares were down 2.5% during trading on Monday after an insider sold shares in the company. The company traded as low as $37.04 and last traded at $37.06. Approximately 244,537 shares traded hands during mid-day trading, a decline of 74% from the average daily volume of 925,032 shares. The stock had previously closed at $38.00.

Specifically, SVP Stuart E. Jr. Heflin sold 5,000 shares of the company’s stock in a transaction dated Friday, April 11th. The shares were sold at an average price of $37.25, for a total value of $186,250.00. Following the transaction, the senior vice president now directly owns 12,839 shares in the company, valued at $478,252.75. This represents a 28.03 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Morgan Stanley upped their target price on Simply Good Foods from $36.00 to $37.00 and gave the stock an “equal weight” rating in a report on Thursday. DA Davidson upped their price objective on shares of Simply Good Foods from $35.00 to $41.00 and gave the stock a “neutral” rating in a research note on Friday. Finally, Mizuho raised their target price on shares of Simply Good Foods from $45.00 to $47.00 and gave the company an “outperform” rating in a research report on Friday. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, Simply Good Foods presently has a consensus rating of “Moderate Buy” and a consensus price target of $40.22.

Simply Good Foods Price Performance

The company has a market cap of $3.74 billion, a PE ratio of 26.28, a PEG ratio of 3.23 and a beta of 0.63. The company has a debt-to-equity ratio of 0.20, a current ratio of 4.23 and a quick ratio of 2.75. The stock’s 50-day moving average is $35.74 and its 200 day moving average is $36.32.

Simply Good Foods (NASDAQ:SMPL) last issued its quarterly earnings data on Wednesday, April 9th. The financial services provider reported $0.46 EPS for the quarter, beating the consensus estimate of $0.40 by $0.06. Simply Good Foods had a return on equity of 10.25% and a net margin of 10.40%. The firm had revenue of $359.70 million during the quarter, compared to analyst estimates of $354.50 million. During the same quarter in the prior year, the business posted $0.40 EPS. The business’s revenue for the quarter was up 15.2% compared to the same quarter last year. On average, equities analysts anticipate that The Simply Good Foods Company will post 1.78 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Simply Good Foods

Several institutional investors have recently added to or reduced their stakes in the business. R Squared Ltd purchased a new position in shares of Simply Good Foods in the 4th quarter valued at approximately $26,000. CIBC Private Wealth Group LLC increased its stake in Simply Good Foods by 72.4% during the 4th quarter. CIBC Private Wealth Group LLC now owns 1,060 shares of the financial services provider’s stock valued at $38,000 after purchasing an additional 445 shares in the last quarter. Smartleaf Asset Management LLC raised its holdings in shares of Simply Good Foods by 255.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,710 shares of the financial services provider’s stock worth $66,000 after buying an additional 1,229 shares during the last quarter. GAMMA Investing LLC lifted its stake 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 buying an additional 1,201 shares during the period. Finally, Quadrant Capital Group LLC grew its holdings in shares of Simply Good Foods by 13.5% during the fourth quarter. Quadrant Capital Group LLC now owns 2,517 shares of the financial services provider’s stock valued at $98,000 after buying an additional 300 shares during the last quarter. Institutional investors and hedge funds 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.