Simply Good Foods (NASDAQ:SMPL) Sees Unusually-High Trading Volume

The Simply Good Foods Company (NASDAQ:SMPL) shares saw unusually-strong trading volume on Tuesday . Approximately 559,989 shares changed hands during trading, a decline of 38% from the previous session’s volume of 906,675 shares.The stock last traded at $33.00 and had previously closed at $32.91.

Analysts Set New Price Targets

Several analysts have issued reports on SMPL shares. DA Davidson cut their target price on shares of Simply Good Foods from $39.00 to $34.00 and set a “neutral” rating on the stock in a research note on Friday, April 5th. Needham & Company LLC cut their target price on shares of Simply Good Foods from $45.00 to $41.00 and set a “buy” rating on the stock in a research note on Friday, April 5th. TD Cowen began coverage on shares of Simply Good Foods in a research note on Monday. They set a “hold” rating and a $34.00 target price on the stock. Mizuho reaffirmed a “buy” rating and issued a $50.00 price target on shares of Simply Good Foods in a research note on Friday, April 5th. Finally, Stifel Nicolaus dropped their price target on shares of Simply Good Foods from $48.00 to $38.00 and set a “buy” rating on the stock in a research note on Thursday, March 28th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $40.14.

Simply Good Foods Price Performance

The company has a debt-to-equity ratio of 0.14, a current ratio of 4.20 and a quick ratio of 3.09. The stock’s fifty day simple moving average is $33.90 and its 200-day simple moving average is $36.75. The company has a market capitalization of $3.39 billion, a P/E ratio of 23.68, a PEG ratio of 2.45 and a beta of 0.69.

Insider Activity at Simply Good Foods

In related news, Director Robert G. Montgomery sold 2,500 shares of the stock in a transaction dated Thursday, January 25th. The shares were sold at an average price of $39.36, for a total value of $98,400.00. Following the completion of the sale, the director now owns 52,738 shares in the company, valued at $2,075,767.68. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 10.98% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Blue Trust Inc. increased its holdings in shares of Simply Good Foods by 18.8% during the fourth quarter. Blue Trust Inc. now owns 1,846 shares of the financial services provider’s stock worth $73,000 after buying an additional 292 shares in the last quarter. Teacher Retirement System of Texas increased its holdings in shares of Simply Good Foods by 1.7% during the fourth quarter. Teacher Retirement System of Texas now owns 20,007 shares of the financial services provider’s stock worth $792,000 after buying an additional 326 shares in the last quarter. Ziegler Capital Management LLC increased its holdings in shares of Simply Good Foods by 4.0% in the third quarter. Ziegler Capital Management LLC now owns 8,965 shares of the financial services provider’s stock valued at $309,000 after purchasing an additional 341 shares in the last quarter. Arizona State Retirement System increased its holdings in shares of Simply Good Foods by 1.4% in the third quarter. Arizona State Retirement System now owns 26,927 shares of the financial services provider’s stock valued at $930,000 after purchasing an additional 373 shares in the last quarter. Finally, Alliance Wealth Advisors LLC UT increased its holdings in shares of Simply Good Foods by 3.6% in the fourth quarter. Alliance Wealth Advisors LLC UT now owns 11,210 shares of the financial services provider’s stock valued at $444,000 after purchasing an additional 394 shares in the last quarter. Institutional investors and hedge funds own 88.45% of the company’s stock.

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.