Simply Good Foods (NASDAQ:SMPL) Posts Earnings Results, Beats Estimates By $0.01 EPS

Simply Good Foods (NASDAQ:SMPL - Get Free Report) issued its quarterly earnings data on Thursday. The financial services provider reported $0.51 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.01, RTT News reports. Simply Good Foods had a net margin of 10.31% and a return on equity of 10.39%. The company had revenue of $380,956 billion for the quarter, compared to analyst estimates of $381.68 million. During the same period in the prior year, the firm earned $0.50 earnings per share. The company's revenue was up 13.8% on a year-over-year basis.

Simply Good Foods Stock Down 0.1%

NASDAQ SMPL traded down $0.03 during midday trading on Thursday, hitting $32.31. 3,374,609 shares of the company traded hands, compared to its average volume of 992,197. The company's 50-day simple moving average is $33.94 and its 200-day simple moving average is $35.47. Simply Good Foods has a 52 week low of $29.31 and a 52 week high of $40.53. The company has a debt-to-equity ratio of 0.16, a current ratio of 4.27 and a quick ratio of 2.70. The company has a market cap of $3.26 billion, a PE ratio of 22.44, a price-to-earnings-growth ratio of 2.91 and a beta of 0.68.

Analyst Ratings Changes

SMPL has been the topic of a number of research reports. UBS Group set a $36.00 target price on shares of Simply Good Foods and gave the stock a "neutral" rating in a report on Tuesday, July 1st. Wall Street Zen cut Simply Good Foods from a "buy" rating to a "hold" rating in a research note on Saturday, June 21st. Morgan Stanley increased their target price on Simply Good Foods from $36.00 to $37.00 and gave the stock an "equal weight" rating in a research report on Thursday, April 10th. Mizuho raised their price target on Simply Good Foods from $45.00 to $47.00 and gave the company an "outperform" rating in a report on Friday, April 11th. Finally, Citigroup decreased their price objective on shares of Simply Good Foods from $43.00 to $40.00 and set a "buy" rating on the stock in a research report on Wednesday, June 18th. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, Simply Good Foods currently has an average rating of "Moderate Buy" and an average target price of $39.71.

Insider Activity at Simply Good Foods

In other Simply Good Foods news, SVP Stuart E. Jr. Heflin sold 5,000 shares of the business's stock in a transaction that occurred on Friday, April 11th. The shares were sold at an average price of $37.25, for a total transaction of $186,250.00. Following the sale, the senior vice president owned 12,839 shares of the company's stock, valued at approximately $478,252.75. The trade was a 28.03% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 9.35% of the company's stock.

Hedge Funds Weigh In On Simply Good Foods

A number of hedge funds have recently bought and sold shares of the business. Strs Ohio purchased a new stake in shares of Simply Good Foods in the first quarter valued at approximately $114,000. Caxton Associates LLP purchased a new position in Simply Good Foods in the first quarter valued at approximately $264,000. AQR Capital Management LLC lifted its holdings in shares of Simply Good Foods by 3.4% in the 1st quarter. AQR Capital Management LLC now owns 19,018 shares of the financial services provider's stock valued at $656,000 after purchasing an additional 617 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Simply Good Foods by 5.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 54,819 shares of the financial services provider's stock valued at $1,891,000 after acquiring an additional 2,850 shares during the period. Finally, Royal Bank of Canada raised its stake in shares of Simply Good Foods by 9.0% during the first quarter. Royal Bank of Canada now owns 71,023 shares of the financial services provider's stock worth $2,448,000 after purchasing an additional 5,893 shares during the last quarter. Hedge funds and other institutional investors 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.