Principal Financial Group Inc. Has $13.02 Million Stock Position in The Simply Good Foods Company $SMPL

Principal Financial Group Inc. boosted its holdings in shares of The Simply Good Foods Company (NASDAQ:SMPL) by 6.9% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 524,685 shares of the financial services provider’s stock after acquiring an additional 33,679 shares during the quarter. Principal Financial Group Inc. owned 0.53% of Simply Good Foods worth $13,023,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Y Intercept Hong Kong Ltd purchased a new position in Simply Good Foods during the second quarter valued at approximately $612,000. Econ Financial Services Corp acquired a new position in shares of Simply Good Foods in the second quarter worth $830,000. Savoir Faire Capital Management L.P. raised its holdings in shares of Simply Good Foods by 96.8% during the third quarter. Savoir Faire Capital Management L.P. now owns 145,956 shares of the financial services provider’s stock worth $3,623,000 after acquiring an additional 71,773 shares in the last quarter. Thornburg Investment Management Inc. acquired a new stake in Simply Good Foods during the second quarter valued at $8,238,000. Finally, Norges Bank acquired a new stake in Simply Good Foods during the second quarter valued at $36,419,000. Hedge funds and other institutional investors own 88.45% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on SMPL. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Simply Good Foods in a research note on Monday, December 29th. Morgan Stanley set a $24.00 price objective on Simply Good Foods in a report on Monday, October 27th. Jefferies Financial Group cut their price objective on shares of Simply Good Foods from $32.00 to $27.00 and set a “hold” rating on the stock in a research report on Wednesday, October 22nd. Mizuho set a $30.00 target price on shares of Simply Good Foods in a research report on Thursday, January 15th. Finally, Stifel Nicolaus set a $32.00 price target on shares of Simply Good Foods in a report on Friday, October 24th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $29.67.

Simply Good Foods Stock Performance

Shares of SMPL opened at $16.41 on Wednesday. The company has a market capitalization of $1.52 billion, a PE ratio of 18.23, a price-to-earnings-growth 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. The Simply Good Foods Company has a one year low of $16.18 and a one year high of $38.79. The company’s fifty day moving average price is $19.43 and its 200 day moving average price is $23.01.

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

Insiders Place Their Bets

In other Simply Good Foods news, insider Michael L. Clawson bought 5,000 shares of the firm’s stock in a transaction that occurred on Monday, November 17th. The stock was purchased at an average price of $20.00 per share, for a total transaction of $100,000.00. Following the purchase, the insider directly owned 37,620 shares in the company, valued at $752,400. This trade represents a 15.33% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 8.76% of the stock is currently owned by insiders.

Simply Good Foods Company 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.