The Simply Good Foods Company $SMPL Shares Sold by Principal Financial Group Inc.

Key Points

• Principal Financial Group cut its Simply Good Foods stake by 26%, selling 145,810 shares and retaining 415,531 shares worth approximately $5.96 million. Institutional investors still own 88.45% of SMPL.
• Analyst sentiment remains cautious, with nine Hold ratings, three Buys, and one Sell. The average price target is $15.20 after several brokerages sharply reduced their targets to roughly $14–$15.
• Simply Good Foods exceeded quarterly estimates with $0.42 in EPS and $356.98 million in revenue, though revenue fell 6.3% year over year and the company reported a negative net margin. Shares opened at $10.66, near their 12-month low of $10.12.

Principal Financial Group Inc. trimmed its position in shares of The Simply Good Foods Company (NASDAQ:SMPL - Free Report) by 26.0% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 415,531 shares of the financial services provider's stock after selling 145,810 shares during the period. Principal Financial Group Inc. owned about 0.46% of Simply Good Foods worth $5,963,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in SMPL. EverSource Wealth Advisors LLC lifted its stake 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 worth $31,000 after acquiring an additional 538 shares during the last quarter. Johnson Financial Group Inc. purchased a new stake in shares of Simply Good Foods in the 3rd quarter valued at approximately $36,000. Hantz Financial Services Inc. raised its holdings in shares of Simply Good Foods by 82.3% in the 4th quarter. Hantz Financial Services Inc. now owns 1,787 shares of the financial services provider's stock valued at $36,000 after purchasing an additional 807 shares in the last quarter. Parallel Advisors LLC raised its holdings in shares of Simply Good Foods by 167.4% in the 4th quarter. Parallel Advisors LLC now owns 2,126 shares of the financial services provider's stock valued at $43,000 after purchasing an additional 1,331 shares in the last quarter. Finally, Leonteq Securities AG raised its holdings in shares of Simply Good Foods by 96.2% in the 1st quarter. Leonteq Securities AG now owns 2,309 shares of the financial services provider's stock valued at $33,000 after purchasing an additional 1,132 shares in the last quarter. 88.45% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently commented on SMPL. Morgan Stanley lowered their target price on shares of Simply Good Foods from $24.00 to $14.00 and set an "equal weight" rating for the company in a research note on Friday, April 10th. TD Cowen restated a "hold" rating on shares of Simply Good Foods in a research note on Friday, July 10th. UBS Group set a $15.00 price target on Simply Good Foods in a report on Friday, July 10th. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and set a $14.00 price objective on shares of Simply Good Foods in a research report on Friday, July 10th. Finally, DA Davidson dropped their price objective on Simply Good Foods from $39.00 to $14.00 and set a "neutral" rating on the stock in a report on Friday, July 10th. Three investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $15.20.

Simply Good Foods Trading Up 4.3%

Shares of Simply Good Foods stock opened at $10.66 on Tuesday. The company has a current ratio of 4.80, a quick ratio of 3.10 and a debt-to-equity ratio of 0.28. The company has a fifty day simple moving average of $12.12 and a 200-day simple moving average of $14.36. The stock has a market cap of $942.98 million, a price-to-earnings ratio of -4.91 and a beta of 0.13. The Simply Good Foods Company has a 12-month low of $10.12 and a 12-month high of $33.19.

Simply Good Foods (NASDAQ:SMPL - Get Free Report) last announced its quarterly earnings results on Thursday, July 9th. The financial services provider reported $0.42 EPS for the quarter, topping the consensus estimate of $0.35 by $0.07. Simply Good Foods had a negative net margin of 14.28% and a positive return on equity of 9.34%. The firm had revenue of $356.98 million for the quarter, compared to analyst estimates of $332.99 million. During the same period last year, the business earned $0.51 EPS. Simply Good Foods's revenue for the quarter was down 6.3% compared to the same quarter last year. On average, equities analysts forecast that The Simply Good Foods Company will post 1.54 EPS for the current fiscal year.

Insider Activity

In other news, Director Clayton C. Daley, Jr. acquired 10,000 shares of the company's stock in a transaction on Thursday, May 14th. The shares were bought at an average price of $11.78 per share, with a total value of $117,800.00. Following the completion of the acquisition, the director owned 111,743 shares in the company, valued at $1,316,332.54. This trade represents a 9.83% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 8.76% of the company's stock.

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.

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