Principal Financial Group Inc. Buys 33,679 Shares of The Simply Good Foods Company $SMPL

Principal Financial Group Inc. raised its stake in The Simply Good Foods Company (NASDAQ:SMPL) by 6.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 524,685 shares of the financial services provider’s stock after purchasing an additional 33,679 shares during the period. Principal Financial Group Inc.’s holdings in Simply Good Foods were worth $13,023,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. EverSource Wealth Advisors LLC increased 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 worth $31,000 after purchasing an additional 538 shares during the period. CWM LLC grew its position in Simply Good Foods by 343.0% during the third quarter. CWM LLC now owns 2,605 shares of the financial services provider’s stock worth $65,000 after buying an additional 2,017 shares in the last quarter. State of Wyoming bought a new position in Simply Good Foods during the second quarter valued at about $87,000. Strs Ohio bought a new position in Simply Good Foods during the first quarter valued at about $114,000. Finally, Elevation Point Wealth Partners LLC acquired a new position in Simply Good Foods in the 2nd quarter valued at approximately $109,000. 88.45% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on SMPL shares. Mizuho set a $30.00 price objective on Simply Good Foods in a report on Thursday, January 15th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $22.00 target price on shares of Simply Good Foods in a research report on Monday, December 15th. Stifel Nicolaus set a $32.00 price target on shares of Simply Good Foods in a research note on Friday, October 24th. Morgan Stanley set a $24.00 price target on shares of Simply Good Foods in a report on Monday, October 27th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Simply Good Foods in a report on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $29.67.

Simply Good Foods Price Performance

Shares of SMPL stock opened at $16.41 on Wednesday. The stock’s fifty day simple moving average is $19.43 and its 200 day simple moving average is $23.01. The Simply Good Foods Company has a one year low of $16.18 and a one year high of $38.79. The firm has a market cap of $1.52 billion, a price-to-earnings ratio of 18.23, a P/E/G ratio of 2.14 and a beta of 0.25. The company has a debt-to-equity ratio of 0.23, a current ratio of 5.01 and a quick ratio of 3.24.

Simply Good Foods (NASDAQ:SMPL) last released its quarterly earnings data on Thursday, January 8th. The financial services provider reported $0.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.03. Simply Good Foods had a return on equity of 9.56% and a net margin of 6.26%.The firm had revenue of $340.20 million during the quarter, compared to analyst estimates of $337.64 million. During the same period in the prior year, the company posted $0.49 earnings per share. The business’s revenue for the quarter was down .3% compared to the same quarter last year. On average, analysts expect that The Simply Good Foods Company will post 1.78 earnings per share for the current fiscal year.

Insider Transactions at Simply Good Foods

In other news, insider Michael L. Clawson purchased 5,000 shares of Simply Good Foods stock in a transaction on Monday, November 17th. The shares were purchased at an average cost of $20.00 per share, for a total transaction of $100,000.00. Following the completion of the transaction, the insider directly owned 37,620 shares in the company, valued at approximately $752,400. This represents a 15.33% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 8.76% of the stock is owned by corporate insiders.

Simply Good Foods 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.