Mizuho Cuts Simply Good Foods (NASDAQ:SMPL) Price Target to $45.00

Simply Good Foods (NASDAQ:SMPL) had its target price cut by Mizuho from $48.00 to $45.00 in a research note issued to investors on Friday morning,Benzinga reports. They currently have an outperform rating on the financial services provider’s stock.

Other equities analysts also recently issued research reports about the stock. Citigroup cut their price target on shares of Simply Good Foods from $46.00 to $43.00 and set a “buy” rating for the company in a report on Thursday, November 14th. Stephens reduced their price objective on 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. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $40.22.

Simply Good Foods Stock Performance

Shares of SMPL stock opened at $34.36 on Friday. The stock’s 50-day moving average is $38.26 and its two-hundred day moving average is $35.41. The firm has a market cap of $3.47 billion, a price-to-earnings ratio of 24.90, a PEG ratio of 3.51 and a beta of 0.67. The company has a debt-to-equity ratio of 0.23, a quick ratio of 2.75 and a current ratio of 4.05. Simply Good Foods has a 1 year low of $30.00 and a 1 year high of $42.37.

Simply Good Foods (NASDAQ:SMPL) last announced its earnings results on Wednesday, January 8th. The financial services provider reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.43 by $0.06. The company had revenue of $341.30 million for the quarter, compared to the consensus estimate of $347.32 million. Simply Good Foods had a return on equity of 10.23% and a net margin of 10.46%. The company’s revenue was up 10.6% on a year-over-year basis. During the same period last year, the business posted $0.43 EPS. Analysts predict that Simply Good Foods will post 1.77 earnings per share for the current year.

Insider Activity at Simply Good Foods

In other Simply Good Foods news, Director Joseph Scalzo sold 25,000 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $35.99, for a total value of $899,750.00. Following the transaction, the director now directly owns 139,204 shares of the company’s stock, valued at $5,009,951.96. This trade represents a 15.22 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Timothy Richard Kraft sold 21,209 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $36.50, for a total value of $774,128.50. Following the completion of the transaction, the insider now owns 40,068 shares of the company’s stock, valued at approximately $1,462,482. This represents a 34.61 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 327,869 shares of company stock worth $12,139,570. 9.35% of the stock is owned by insiders.

Institutional Investors Weigh In On Simply Good Foods

Hedge funds and other institutional investors have recently bought and sold shares of the business. Fulton Bank N.A. grew its holdings in Simply Good Foods by 12.0% during the 4th quarter. Fulton Bank N.A. now owns 10,682 shares of the financial services provider’s stock worth $416,000 after acquiring an additional 1,146 shares in the last quarter. GAMMA Investing LLC boosted its holdings in shares of Simply Good Foods by 215.6% in the 4th quarter. GAMMA Investing LLC now owns 1,758 shares of the financial services provider’s stock valued at $69,000 after buying an additional 1,201 shares during the period. Franklin Resources Inc. raised its stake in Simply Good Foods by 2.8% during the third quarter. Franklin Resources Inc. now owns 1,065,941 shares of the financial services provider’s stock worth $36,402,000 after acquiring an additional 28,876 shares during the period. Tidal Investments LLC raised its position in shares of Simply Good Foods by 42.7% during the 3rd quarter. Tidal Investments LLC now owns 51,664 shares of the financial services provider’s stock worth $1,796,000 after purchasing an additional 15,455 shares during the period. Finally, TD Private Client Wealth LLC lifted its stake in Simply Good Foods by 70.2% in the third quarter. TD Private Client Wealth LLC now owns 4,575 shares of the financial services provider’s stock valued at $159,000 after buying an additional 1,887 shares during the last quarter. 88.45% of the stock is currently owned by hedge funds and other institutional investors.

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.