B&G Foods (NYSE:BGS) Stock Price Down 1.6% – What’s Next?

Shares of B&G Foods, Inc. (NYSE:BGS) dropped 1.6% during trading on Wednesday . The company traded as low as $6.67 and last traded at $6.74. Approximately 193,354 shares changed hands during mid-day trading, a decline of 82% from the average daily volume of 1,098,814 shares. The stock had previously closed at $6.85.

Analyst Ratings Changes

BGS has been the subject of a number of analyst reports. Barclays cut their price objective on shares of B&G Foods from $8.00 to $7.00 and set an “equal weight” rating for the company in a research report on Thursday, November 7th. TD Cowen dropped their target price on shares of B&G Foods from $8.00 to $7.50 and set a “sell” rating for the company in a research report on Wednesday, November 6th. StockNews.com raised shares of B&G Foods from a “sell” rating to a “hold” rating in a research note on Thursday, September 26th. Finally, Evercore ISI cut their price target on shares of B&G Foods from $10.00 to $9.00 and set an “in-line” rating on the stock in a report on Wednesday, November 6th. One investment analyst has rated the stock with a sell rating and five have issued a hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $8.30.

B&G Foods Trading Up 3.3 %

The stock’s 50 day moving average is $7.63 and its 200-day moving average is $8.27. The company has a current ratio of 1.64, a quick ratio of 0.49 and a debt-to-equity ratio of 2.40. The company has a market cap of $541.48 million, a P/E ratio of -20.12 and a beta of 0.54.

B&G Foods (NYSE:BGS) last issued its earnings results on Tuesday, November 5th. The company reported $0.13 earnings per share for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.07). B&G Foods had a positive return on equity of 6.97% and a negative net margin of 1.34%. The business had revenue of $461.10 million during the quarter, compared to analysts’ expectations of $473.82 million. During the same period last year, the firm posted $0.27 EPS. B&G Foods’s quarterly revenue was down 8.3% compared to the same quarter last year. Research analysts anticipate that B&G Foods, Inc. will post 0.73 earnings per share for the current fiscal year.

B&G Foods Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 30th. Stockholders of record on Tuesday, December 31st will be given a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 11.11%. The ex-dividend date is Tuesday, December 31st. B&G Foods’s payout ratio is currently -223.53%.

Insider Activity

In other B&G Foods news, EVP Scott E. Lerner purchased 7,611 shares of the company’s stock in a transaction on Friday, November 8th. The stock was acquired at an average cost of $6.57 per share, for a total transaction of $50,004.27. Following the purchase, the executive vice president now directly owns 196,755 shares of the company’s stock, valued at $1,292,680.35. This trade represents a 4.02 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Stephen Sherrill bought 70,000 shares of the stock in a transaction dated Friday, November 8th. The shares were purchased at an average price of $6.63 per share, with a total value of $464,100.00. Following the completion of the transaction, the director now directly owns 353,084 shares in the company, valued at approximately $2,340,946.92. The trade was a 24.73 % increase in their position. The disclosure for this purchase can be found here. Insiders acquired 90,111 shares of company stock valued at $593,054 in the last quarter. 3.20% of the stock is currently owned by insiders.

Institutional Trading of B&G Foods

A number of hedge funds and other institutional investors have recently bought and sold shares of BGS. Dimensional Fund Advisors LP increased its stake in shares of B&G Foods by 33.9% during the second quarter. Dimensional Fund Advisors LP now owns 1,918,418 shares of the company’s stock valued at $15,501,000 after buying an additional 485,714 shares during the period. Geode Capital Management LLC boosted its holdings in B&G Foods by 1.4% in the third quarter. Geode Capital Management LLC now owns 1,803,408 shares of the company’s stock worth $16,018,000 after acquiring an additional 24,995 shares in the last quarter. American Century Companies Inc. boosted its holdings in B&G Foods by 71.3% in the second quarter. American Century Companies Inc. now owns 1,640,354 shares of the company’s stock worth $13,254,000 after acquiring an additional 682,688 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of B&G Foods by 0.5% during the second quarter. Bank of New York Mellon Corp now owns 1,200,039 shares of the company’s stock worth $9,696,000 after purchasing an additional 5,842 shares during the period. Finally, Dana Investment Advisors Inc. boosted its position in B&G Foods by 23.5% in the 2nd quarter. Dana Investment Advisors Inc. now owns 710,244 shares of the company’s stock worth $5,739,000 after purchasing an additional 134,937 shares in the last quarter. Hedge funds and other institutional investors own 66.15% of the company’s stock.

B&G Foods Company Profile

B&G Foods, Inc manufactures, sells, and distributes a portfolio of shelf-stable and frozen foods, and household products in the United States, Canada, and Puerto Rico. The company's products include frozen and canned vegetables, vegetables, canola and other cooking oils, vegetable shortening, cooking sprays, oatmeal and other hot cereals, fruit spreads, canned meats and beans, bagel chips, spices, seasonings, hot sauces, wine vinegar, maple syrups, molasses, salad dressings, pizza crusts, Mexican-style sauces, dry soups, taco shells and kits, salsas, pickles, peppers, tomato-based products, crackers, baking powder and soda, corn starch, nut clusters, and other specialty products.