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

Thrivent Financial for Lutherans trimmed its position in The Simply Good Foods Company (NASDAQ:SMPL) by 5.3% during the third quarter, Holdings Channel.com reports. The firm owned 71,559 shares of the financial services provider’s stock after selling 3,976 shares during the period. Thrivent Financial for Lutherans’ holdings in Simply Good Foods were worth $2,488,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the company. Dimensional Fund Advisors LP raised its position in shares of Simply Good Foods by 6.8% in the second quarter. Dimensional Fund Advisors LP now owns 3,223,666 shares of the financial services provider’s stock valued at $116,468,000 after buying an additional 203,914 shares during the last quarter. Boston Trust Walden Corp acquired a new position in Simply Good Foods in the 3rd quarter valued at $80,270,000. Principal Financial Group Inc. lifted its stake in shares of Simply Good Foods by 14.3% during the 2nd quarter. Principal Financial Group Inc. now owns 1,474,736 shares of the financial services provider’s stock worth $53,282,000 after purchasing an additional 184,539 shares during the period. Victory Capital Management Inc. boosted its holdings in shares of Simply Good Foods by 13.5% during the third quarter. Victory Capital Management Inc. now owns 1,045,457 shares of the financial services provider’s stock worth $36,351,000 after purchasing an additional 124,655 shares during the last quarter. Finally, Armistice Capital LLC purchased a new stake in shares of Simply Good Foods in the second quarter valued at $34,582,000. 88.45% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Simply Good Foods

In other news, Director Joseph Scalzo sold 2,374 shares of the firm’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $36.23, for a total transaction of $86,010.02. Following the completion of the sale, the director now directly owns 136,830 shares in the company, valued at $4,957,350.90. This trade represents a 1.71 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Timothy Richard Kraft sold 21,209 shares of Simply Good Foods stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $36.50, for a total value of $774,128.50. Following the sale, the insider now directly owns 40,068 shares in the company, valued at approximately $1,462,482. The trade was a 34.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 327,869 shares of company stock valued at $12,139,570 over the last 90 days. 10.98% of the stock is owned by corporate insiders.

Simply Good Foods Price Performance

Simply Good Foods stock opened at $40.01 on Wednesday. The firm has a fifty day moving average of $34.86 and a 200-day moving average of $35.02. The company has a quick ratio of 2.75, a current ratio of 4.05 and a debt-to-equity ratio of 0.23. The Simply Good Foods Company has a 52-week low of $30.00 and a 52-week high of $43.00. The firm has a market capitalization of $4.01 billion, a P/E ratio of 28.88, a PEG ratio of 3.45 and a beta of 0.64.

Simply Good Foods (NASDAQ:SMPL) last posted its earnings results on Thursday, October 24th. The financial services provider reported $0.50 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.50. The business had revenue of $375.70 million during the quarter, compared to analyst estimates of $373.07 million. Simply Good Foods had a return on equity of 10.23% and a net margin of 10.46%. The company’s revenue for the quarter was up 17.3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.41 earnings per share. As a group, analysts predict that The Simply Good Foods Company will post 1.76 EPS for the current year.

Analyst Upgrades and Downgrades

SMPL has been the topic of several recent analyst reports. Stephens reduced their target price 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. Citigroup decreased their target price on shares of Simply Good Foods from $46.00 to $43.00 and set a “buy” rating on the stock in a research report on Thursday, November 14th. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $40.78.

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.