Thrivent Financial for Lutherans Trims Stock Position in The Simply Good Foods Company (NASDAQ:SMPL)

Thrivent Financial for Lutherans decreased its position in shares of The Simply Good Foods Company (NASDAQ:SMPL) by 5.3% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 71,559 shares of the financial services provider’s stock after selling 3,976 shares during the quarter. Thrivent Financial for Lutherans owned approximately 0.07% of Simply Good Foods worth $2,488,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Quarry LP purchased a new position in Simply Good Foods during the 2nd quarter worth approximately $30,000. GAMMA Investing LLC grew its position in shares of Simply Good Foods by 182.4% during the second quarter. GAMMA Investing LLC now owns 850 shares of the financial services provider’s stock worth $31,000 after acquiring an additional 549 shares during the last quarter. EverSource Wealth Advisors LLC grew its position in shares of Simply Good Foods by 236.4% during the second quarter. EverSource Wealth Advisors LLC now owns 1,766 shares of the financial services provider’s stock worth $60,000 after acquiring an additional 1,241 shares during the last quarter. Innealta Capital LLC purchased a new stake in Simply Good Foods in the 2nd quarter valued at $71,000. Finally, KBC Group NV boosted its stake in 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 worth $107,000 after purchasing an additional 746 shares during the period. Institutional investors and hedge funds own 88.45% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have commented on SMPL shares. Stephens dropped their price objective on shares of Simply Good Foods from $44.00 to $42.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 23rd. Citigroup lowered their price target on Simply Good Foods from $46.00 to $43.00 and set a “buy” rating on the stock in a report on Thursday, November 14th. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, Simply Good Foods has an average rating of “Moderate Buy” and a consensus target price of $40.78.

Simply Good Foods Price Performance

Shares of SMPL opened at $40.01 on Wednesday. The firm has a market capitalization of $4.01 billion, a PE ratio of 28.88, a P/E/G ratio of 3.45 and a beta of 0.64. The stock’s 50 day moving average is $34.86 and its two-hundred day moving average is $35.02. The Simply Good Foods Company has a twelve month low of $30.00 and a twelve month high of $43.00. The company has a current ratio of 4.05, a quick ratio of 2.75 and a debt-to-equity ratio of 0.23.

Simply Good Foods (NASDAQ:SMPL) last released its quarterly earnings data on Thursday, October 24th. The financial services provider reported $0.50 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.50. The firm had revenue of $375.70 million during the quarter, compared to analysts’ expectations of $373.07 million. Simply Good Foods had a return on equity of 10.23% and a net margin of 10.46%. Simply Good Foods’s revenue was up 17.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.41 earnings per share. Research analysts anticipate that The Simply Good Foods Company will post 1.76 earnings per share for the current year.

Insider Transactions at Simply Good Foods

In related news, Director Brian K. Ratzan sold 50,000 shares of the business’s stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $37.38, for a total value of $1,869,000.00. Following the sale, the director now directly owns 2,049,387 shares in the company, valued at $76,606,086.06. The trade was a 2.38 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Joseph Scalzo sold 25,000 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $35.99, for a total transaction of $899,750.00. Following the transaction, the director now 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 disclosure for this sale can be found here. Insiders have sold 327,869 shares of company stock valued at $12,139,570 in the last quarter. 10.98% of the stock is currently owned by corporate insiders.

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.