Simply Good Foods (NASDAQ:SMPL) Posts Quarterly Earnings Results, Beats Expectations By $0.03 EPS

Simply Good Foods (NASDAQ:SMPL) announced its quarterly earnings data on Thursday. The financial services provider reported $0.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.03, FiscalAI reports. Simply Good Foods had a return on equity of 10.06% and a net margin of 7.14%.The firm had revenue of $340.20 million for the quarter, compared to analysts’ expectations of $337.64 million.

Simply Good Foods Stock Up 1.1%

Shares of Simply Good Foods stock opened at $19.37 on Thursday. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.64 and a quick ratio of 2.30. Simply Good Foods has a 1-year low of $18.45 and a 1-year high of $40.01. The business’s fifty day moving average price is $19.53 and its two-hundred day moving average price is $25.25. The company has a market capitalization of $1.84 billion, a P/E ratio of 18.99, a PEG ratio of 4.80 and a beta of 0.27.

Insider Activity

In related news, CFO Christopher J. Bealer bought 9,946 shares of the stock in a transaction on Thursday, November 6th. The shares were purchased at an average price of $20.01 per share, with a total value of $199,019.46. Following the purchase, the chief financial officer owned 32,966 shares in the company, valued at approximately $659,649.66. This represents a 43.21% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Timothy Allen Matthews sold 5,859 shares of the company’s stock in a transaction that occurred on Tuesday, November 11th. The stock was sold at an average price of $19.47, for a total transaction of $114,074.73. Following the completion of the sale, the chief accounting officer directly owned 18,065 shares of the company’s stock, valued at approximately $351,725.55. This represents a 24.49% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 8.76% of the company’s stock.

Hedge Funds Weigh In On Simply Good Foods

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SMPL. EverSource Wealth Advisors LLC raised its stake in shares of Simply Good Foods by 125.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 967 shares of the financial services provider’s stock worth $31,000 after buying an additional 538 shares in the last quarter. Johnson Financial Group Inc. acquired a new position in Simply Good Foods during the third quarter worth about $36,000. State of Wyoming bought a new stake in Simply Good Foods in the second quarter worth about $87,000. Strs Ohio bought a new stake in Simply Good Foods in the first quarter worth about $114,000. Finally, Diversify Advisory Services LLC lifted its holdings in Simply Good Foods by 28.1% in the 2nd quarter. Diversify Advisory Services LLC now owns 7,185 shares of the financial services provider’s stock valued at $209,000 after acquiring an additional 1,577 shares during the last quarter. 88.45% of the stock is owned by institutional investors.

Analysts Set New Price Targets

SMPL has been the subject of a number of recent research reports. UBS Group lowered their price objective on shares of Simply Good Foods from $27.00 to $23.00 and set a “neutral” rating for the company in a research report on Friday, October 24th. Zacks Research raised Simply Good Foods from a “strong sell” rating to a “hold” rating in a report on Friday, December 26th. Stifel Nicolaus set a $32.00 price objective on Simply Good Foods in a research report on Friday, October 24th. Morgan Stanley set a $24.00 price objective on Simply Good Foods in a research note on Monday, October 27th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $22.00 target price on shares of Simply Good Foods in a research note on Monday, December 15th. Four research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $30.22.

About Simply Good Foods

Simply Good Foods Co (NASDAQ: SMPL) is a North American consumer packaged foods company specializing in better-for-you nutrition products. The company’s portfolio centers on two well-established brands, Atkins and Quest, which offer a range of low-carbohydrate, high-protein bars, powders, shakes, and snacks. Simply Good Foods aims to support consumers’ health and wellness goals by delivering convenient, nutrient-dense options without added sugars or artificial sweeteners.

Under the Atkins brand, the company produces meal replacements, snack bars, and ready-to-drink shakes designed for low-carb dieters.