B&G Foods (NYSE:BGS) Trading Down 2.6% – What’s Next?

B&G Foods, Inc. (NYSE:BGS) fell 2.6% during mid-day trading on Wednesday . The stock traded as low as $7.54 and last traded at $7.54. 148,160 shares were traded during mid-day trading, a decline of 87% from the average session volume of 1,133,924 shares. The stock had previously closed at $7.74.

Analyst Upgrades and Downgrades

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

B&G Foods Trading Down 5.4 %

The business’s 50 day moving average price is $7.47 and its two-hundred day moving average price is $8.15. The company has a debt-to-equity ratio of 2.40, a quick ratio of 0.49 and a current ratio of 1.64. The company has a market capitalization of $579.48 million, a price-to-earnings ratio of -21.53 and a beta of 0.54.

B&G Foods (NYSE:BGS) last issued its quarterly earnings results on Tuesday, November 5th. The company reported $0.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.07). B&G Foods had a negative net margin of 1.34% and a positive return on equity of 6.97%. The firm had revenue of $461.10 million for the quarter, compared to the consensus estimate of $473.82 million. During the same period in the previous year, the business posted $0.27 earnings per share. The business’s revenue for the quarter was down 8.3% compared to the same quarter last year. Equities analysts forecast 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 disclosed a quarterly dividend, which will be paid on Thursday, January 30th. Stockholders of record on Tuesday, December 31st will be paid a $0.19 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $0.76 annualized dividend and a dividend yield of 10.38%. B&G Foods’s dividend payout ratio is currently -223.53%.

Insider Activity at B&G Foods

In other news, EVP Andrew D. Vogel acquired 7,500 shares of the stock in a transaction on Wednesday, November 13th. The shares were purchased at an average cost of $6.36 per share, for a total transaction of $47,700.00. Following the transaction, the executive vice president now owns 37,064 shares in the company, valued at approximately $235,727.04. This trade represents a 25.37 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Eric H. Hart purchased 5,000 shares of the stock in a transaction dated Friday, November 15th. The shares were acquired at an average price of $6.25 per share, for a total transaction of $31,250.00. Following the acquisition, the executive vice president now directly owns 88,899 shares of the company’s stock, valued at $555,618.75. This represents a 5.96 % increase in their position. The disclosure for this purchase can be found here. Insiders acquired a total of 90,111 shares of company stock valued at $593,054 over the last ninety days. Insiders own 3.20% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP lifted its stake in shares of B&G Foods by 33.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,918,418 shares of the company’s stock valued at $15,501,000 after purchasing an additional 485,714 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of 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 during the last quarter. American Century Companies Inc. increased its holdings in shares of B&G Foods by 71.3% during the 2nd quarter. American Century Companies Inc. now owns 1,640,354 shares of the company’s stock worth $13,254,000 after purchasing an additional 682,688 shares during the period. Bank of New York Mellon Corp increased its stake in 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 valued at $9,696,000 after acquiring an additional 5,842 shares during the period. Finally, Dana Investment Advisors Inc. boosted its stake in B&G Foods by 23.5% during the second quarter. Dana Investment Advisors Inc. now owns 710,244 shares of the company’s stock worth $5,739,000 after buying an additional 134,937 shares in the last quarter. 66.15% of the stock is owned by hedge funds and other institutional investors.

About B&G Foods

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.