The Simply Good Foods Company (NASDAQ:SMPL) Shares Acquired by Tidal Investments LLC

Tidal Investments LLC lifted its stake in shares of The Simply Good Foods Company (NASDAQ:SMPL) by 42.7% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 51,664 shares of the financial services provider’s stock after purchasing an additional 15,455 shares during the period. Tidal Investments LLC’s holdings in Simply Good Foods were worth $1,796,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in SMPL. Quarry LP purchased a new stake in shares of Simply Good Foods during the 2nd quarter valued at approximately $30,000. EverSource Wealth Advisors LLC raised its position in shares of Simply Good Foods by 236.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,766 shares of the financial services provider’s stock valued at $60,000 after buying an additional 1,241 shares during the period. Innealta Capital LLC purchased a new stake in shares of Simply Good Foods during the 2nd quarter valued at approximately $71,000. KBC Group NV raised its position in shares of Simply Good Foods by 31.9% during the 3rd quarter. KBC Group NV now owns 3,084 shares of the financial services provider’s stock valued at $107,000 after buying an additional 746 shares during the period. Finally, Canada Pension Plan Investment Board purchased a new stake in shares of Simply Good Foods during the 2nd quarter valued at approximately $159,000. 88.45% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

SMPL has been the topic of several analyst reports. Stephens reduced their price target on shares of Simply Good Foods from $44.00 to $42.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 23rd. Mizuho lifted their price target on shares of Simply Good Foods from $40.00 to $45.00 and gave the company an “outperform” rating in a research report on Monday, December 9th. Finally, Citigroup cut their target price on Simply Good Foods from $46.00 to $43.00 and set a “buy” rating on the stock in a research report on Thursday, November 14th. Three analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $40.22.

Insider Transactions at Simply Good Foods

In other news, CAO Timothy Allen Matthews sold 5,325 shares of Simply Good Foods stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $37.31, for a total transaction of $198,675.75. Following the completion of the sale, the chief accounting officer now directly owns 17,063 shares of the company’s stock, valued at approximately $636,620.53. The trade was a 23.79 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Timothy Richard Kraft sold 76,761 shares of Simply Good Foods stock in a transaction on Monday, November 18th. The stock was sold at an average price of $37.60, for a total transaction of $2,886,213.60. Following the sale, the insider now directly owns 40,068 shares of the company’s stock, valued at approximately $1,506,556.80. This trade represents a 65.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 327,869 shares of company stock valued at $12,139,570. 10.98% of the stock is currently owned by corporate insiders.

Simply Good Foods Stock Performance

Shares of SMPL stock opened at $39.74 on Wednesday. The firm has a 50 day moving average of $36.51 and a two-hundred day moving average of $35.25. The stock has a market capitalization of $4.01 billion, a PE ratio of 28.80, a P/E/G ratio of 3.51 and a beta of 0.67. The company has a quick ratio of 2.75, a current ratio of 4.05 and a debt-to-equity ratio of 0.23. The Simply Good Foods Company has a 52 week low of $30.00 and a 52 week high of $43.00.

Simply Good Foods (NASDAQ:SMPL) last released its earnings results on Thursday, October 24th. The financial services provider reported $0.50 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.50. Simply Good Foods had a return on equity of 10.23% and a net margin of 10.46%. The firm had revenue of $375.70 million during the quarter, compared to analyst estimates of $373.07 million. During the same period last year, the business posted $0.41 earnings per share. Simply Good Foods’s revenue was up 17.3% compared to the same quarter last year. On average, research analysts predict that The Simply Good Foods Company will post 1.77 EPS for the current fiscal year.

About Simply Good Foods

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.