The Simply Good Foods Company $SMPL Shares Acquired by Connors Investor Services Inc.

Key Points

• Connors Investor Services boosted its Simply Good Foods stake by 211% in the fourth quarter, ending with 188,915 shares worth about $3.79 million.
• Several analysts cut price targets on SMPL, and the stock’s consensus rating is now Hold with an average target price of $21.64.
• Simply Good Foods reported quarterly EPS of $0.45, beating estimates, but revenue of $326.01 million came in below expectations and was down 9.4% year over year.

Connors Investor Services Inc. lifted its stake in shares of The Simply Good Foods Company (NASDAQ:SMPL - Free Report) by 211.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 188,915 shares of the financial services provider's stock after purchasing an additional 128,175 shares during the period. Connors Investor Services Inc. owned 0.20% of Simply Good Foods worth $3,793,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. California State Teachers Retirement System lifted its holdings in Simply Good Foods by 0.4% in the second quarter. California State Teachers Retirement System now owns 88,477 shares of the financial services provider's stock valued at $2,795,000 after acquiring an additional 383 shares during the last quarter. NorthCrest Asset Manangement LLC lifted its holdings in Simply Good Foods by 6.1% in the third quarter. NorthCrest Asset Manangement LLC now owns 8,843 shares of the financial services provider's stock valued at $215,000 after acquiring an additional 510 shares during the last quarter. EverSource Wealth Advisors LLC lifted its holdings in Simply Good Foods by 125.4% in the second quarter. EverSource Wealth Advisors LLC now owns 967 shares of the financial services provider's stock valued at $31,000 after acquiring an additional 538 shares during the last quarter. AQR Capital Management LLC lifted its holdings in Simply Good Foods by 3.4% in the first quarter. AQR Capital Management LLC now owns 19,018 shares of the financial services provider's stock valued at $656,000 after acquiring an additional 617 shares during the last quarter. Finally, Gamco Investors INC. ET AL lifted its holdings in Simply Good Foods by 3.4% in the second quarter. Gamco Investors INC. ET AL now owns 23,120 shares of the financial services provider's stock valued at $730,000 after acquiring an additional 750 shares during the last quarter. 88.45% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts recently commented on SMPL shares. Stifel Nicolaus decreased their price objective on Simply Good Foods from $32.00 to $20.00 and set a "buy" rating on the stock in a report on Friday, April 10th. Morgan Stanley decreased their price objective on Simply Good Foods from $24.00 to $14.00 and set an "equal weight" rating on the stock in a report on Friday, April 10th. Jefferies Financial Group upgraded Simply Good Foods from a "hold" rating to a "buy" rating and decreased their price objective for the company from $23.00 to $22.00 in a report on Monday, March 16th. Stephens reiterated an "equal weight" rating and issued a $14.00 price objective (down from $24.00) on shares of Simply Good Foods in a report on Friday, April 10th. Finally, DA Davidson reiterated a "neutral" rating and issued a $39.00 price objective on shares of Simply Good Foods in a report on Friday, April 10th. Five analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and an average target price of $21.64.

Simply Good Foods Stock Performance

Shares of Simply Good Foods stock opened at $11.86 on Friday. The business has a 50-day moving average of $13.00 and a 200 day moving average of $16.77. The Simply Good Foods Company has a 12 month low of $10.21 and a 12 month high of $35.15. The stock has a market capitalization of $1.07 billion, a price-to-earnings ratio of -9.97 and a beta of 0.21. The company has a debt-to-equity ratio of 0.27, a current ratio of 5.06 and a quick ratio of 2.87.

Simply Good Foods (NASDAQ:SMPL - Get Free Report) last issued its quarterly earnings results on Thursday, April 9th. The financial services provider reported $0.45 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.40 by $0.05. The company had revenue of $326.01 million for the quarter, compared to analyst estimates of $345.08 million. Simply Good Foods had a negative net margin of 7.46% and a positive return on equity of 9.72%. The business's revenue for the quarter was down 9.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.46 earnings per share. As a group, sell-side analysts forecast that The Simply Good Foods Company will post 1.54 earnings per share for the current year.

Insider Transactions at Simply Good Foods

In other Simply Good Foods news, Director James M. Kilts purchased 80,000 shares of the business's stock in a transaction on Thursday, April 23rd. The shares were bought at an average cost of $12.39 per share, for a total transaction of $991,200.00. Following the completion of the purchase, the director directly owned 172,854 shares of the company's stock, valued at approximately $2,141,661.06. This trade represents a 86.16% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Clayton C. Daley, Jr. purchased 10,000 shares of the business's stock in a transaction on Thursday, May 14th. The shares were acquired at an average price of $11.78 per share, for a total transaction of $117,800.00. Following the completion of the purchase, the director directly owned 111,743 shares of the company's stock, valued at approximately $1,316,332.54. This trade represents a 9.83% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 8.76% of the stock is owned by corporate insiders.

Simply Good Foods Company Profile

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.

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