The Simply Good Foods Company (NASDAQ:SMPL) Short Interest Down 23.6% in April

The Simply Good Foods Company (NASDAQ:SMPL) was the recipient of a large decline in short interest during the month of April. As of April 15th, there was short interest totalling 2,270,000 shares, a decline of 23.6% from the March 31st total of 2,970,000 shares. Currently, 2.5% of the company’s stock are sold short. Based on an average trading volume of 965,900 shares, the days-to-cover ratio is presently 2.4 days.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Pacer Advisors Inc. increased its position in shares of Simply Good Foods by 121.5% in the fourth quarter. Pacer Advisors Inc. now owns 833 shares of the financial services provider’s stock worth $33,000 after purchasing an additional 457 shares during the last quarter. Parkside Financial Bank & Trust increased its position in shares of Simply Good Foods by 103.1% in the fourth quarter. Parkside Financial Bank & Trust now owns 853 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 433 shares during the last quarter. Principal Securities Inc. bought a new position in shares of Simply Good Foods in the fourth quarter worth approximately $36,000. TFO Wealth Partners LLC increased its position in shares of Simply Good Foods by 59,100.0% in the fourth quarter. TFO Wealth Partners LLC now owns 1,184 shares of the financial services provider’s stock worth $47,000 after purchasing an additional 1,182 shares during the last quarter. Finally, Blue Trust Inc. boosted its stake in Simply Good Foods by 18.8% in 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. 88.45% of the stock is currently owned by institutional investors.

Simply Good Foods Price Performance

Shares of SMPL traded up $2.20 during midday trading on Tuesday, hitting $36.45. 2,578,379 shares of the company traded hands, compared to its average volume of 947,125. The stock has a 50-day moving average of $33.75 and a 200-day moving average of $36.78. Simply Good Foods has a one year low of $30.00 and a one year high of $43.00. The firm has a market cap of $3.64 billion, a P/E ratio of 25.97, a PEG ratio of 2.54 and a beta of 0.69. The company has a debt-to-equity ratio of 0.14, a current ratio of 4.20 and a quick ratio of 3.09.

Simply Good Foods (NASDAQ:SMPL) last announced its quarterly earnings results on Thursday, April 4th. The financial services provider reported $0.36 earnings per share for the quarter, beating the consensus estimate of $0.35 by $0.01. Simply Good Foods had a return on equity of 10.12% and a net margin of 11.12%. As a group, sell-side analysts predict that Simply Good Foods will post 1.71 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on SMPL shares. DA Davidson lifted their price objective on shares of Simply Good Foods from $34.00 to $35.00 and gave the stock a “neutral” rating in a report on Tuesday. Needham & Company LLC reissued a “buy” rating and issued a $41.00 price target on shares of Simply Good Foods in a report on Tuesday. Mizuho reissued a “buy” rating and issued a $50.00 price target on shares of Simply Good Foods in a report on Friday, April 5th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $42.00 price objective (up from $41.00) on shares of Simply Good Foods in a report on Tuesday, January 2nd. Finally, Stifel Nicolaus dropped their price objective on shares of Simply Good Foods from $48.00 to $38.00 and set a “buy” rating on the stock in a report on Thursday, March 28th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $40.29.

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.