Simply Good Foods (NASDAQ:SMPL) Posts Earnings Results, Beats Expectations By $0.07 EPS

Key Points

• Simply Good Foods reported quarterly EPS of $0.42, beating analyst estimates by $0.07.
• The company also posted revenue of $356.98 million, above the consensus forecast of $332.99 million.
• Despite the earnings beat, the stock was down 2.5%, while analysts currently maintain a Hold consensus with an average price target of $17.30.

Simply Good Foods (NASDAQ:SMPL - Get Free Report) announced its quarterly earnings results on Thursday. The financial services provider reported $0.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.07, FiscalAI reports. Simply Good Foods had a positive return on equity of 9.72% and a negative net margin of 7.46%.The business had revenue of $356.98 million for the quarter, compared to the consensus estimate of $332.99 million.

Simply Good Foods Trading Down 2.5%

NASDAQ:SMPL opened at $12.84 on Thursday. Simply Good Foods has a 1 year low of $10.21 and a 1 year high of $34.19. The stock has a market cap of $1.16 billion, a price-to-earnings ratio of -10.79 and a beta of 0.13. The business has a fifty day moving average of $12.31 and a 200-day moving average of $15.11. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.87 and a current ratio of 5.06.

Insiders Place Their Bets

In related news, Director Clayton C. Daley, Jr. acquired 10,000 shares of the business's stock in a transaction that occurred on Thursday, May 14th. The shares were acquired at an average cost 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 in the company, valued at $1,316,332.54. This trade represents a 9.83% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director James M. Kilts bought 80,000 shares of the 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 purchase, the director owned 172,854 shares in the company, valued at $2,141,661.06. This trade represents a 86.16% increase in their position. The SEC filing for this purchase provides additional information. 8.76% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Simply Good Foods

A number of hedge funds have recently added to or reduced their stakes in SMPL. California State Teachers Retirement System grew its position 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 worth $2,795,000 after acquiring an additional 383 shares in the last quarter. EverSource Wealth Advisors LLC raised its holdings in shares of Simply Good Foods by 125.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 967 shares of the financial services provider's stock valued at $31,000 after purchasing an additional 538 shares in the last quarter. AQR Capital Management LLC lifted its stake 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. Cerity Partners LLC lifted its stake in shares of Simply Good Foods by 4.1% in the 4th quarter. Cerity Partners LLC now owns 18,000 shares of the financial services provider's stock valued at $361,000 after purchasing an additional 701 shares during the last quarter. Finally, Gamco Investors INC. ET AL boosted 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 worth $730,000 after purchasing an additional 750 shares in the last quarter. Institutional investors and hedge funds own 88.45% of the company's stock.

Analysts Set New Price Targets

Several brokerages have weighed in on SMPL. Deutsche Bank Aktiengesellschaft dropped their target price on Simply Good Foods from $16.00 to $13.00 and set a "hold" rating on the stock in a research report on Friday, April 10th. TD Cowen lowered their price target on shares of Simply Good Foods from $20.00 to $13.00 and set a "hold" rating for the company in a research report on Friday, April 10th. BTIG Research assumed coverage on shares of Simply Good Foods in a report on Monday, April 13th. They issued a "neutral" rating on the stock. DA Davidson raised shares of Simply Good Foods to a "hold" rating in a research note on Monday. Finally, Mizuho set a $19.00 target price on shares of Simply Good Foods in a research report on Monday, May 4th. Three equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $17.30.

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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