B&G Foods (NYSE:BGS) Shares Down 0.6% – What’s Next?

B&G Foods, Inc. (NYSE:BGS)’s stock price dropped 0.6% during trading on Friday . The company traded as low as $7.58 and last traded at $7.70. Approximately 137,174 shares traded hands during mid-day trading, a decline of 88% from the average daily volume of 1,129,105 shares. The stock had previously closed at $7.75.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on BGS shares. Evercore ISI dropped their price objective on shares of B&G Foods from $10.00 to $9.00 and set an “in-line” rating for the company in a research report on Wednesday, November 6th. StockNews.com upgraded B&G Foods from a “sell” rating to a “hold” rating in a research report on Thursday, September 26th. Barclays decreased their price target on shares of B&G Foods from $8.00 to $7.00 and set an “equal weight” rating on the stock in a research report on Thursday, November 7th. Finally, TD Cowen cut their target price on B&G Foods from $8.00 to $7.50 and set a “sell” rating on the stock in a research 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. Based on data from MarketBeat.com, B&G Foods presently has a consensus rating of “Hold” and a consensus target price of $8.30.

B&G Foods Price Performance

The stock has a market capitalization of $609.53 million, a price-to-earnings ratio of -22.65 and a beta of 0.54. 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 stock has a 50-day simple moving average of $7.50 and a 200 day simple moving average of $8.20.

B&G Foods (NYSE:BGS) last issued its 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 company had revenue of $461.10 million for the quarter, compared to analyst estimates of $473.82 million. During the same period last year, the business earned $0.27 EPS. The company’s quarterly revenue was down 8.3% on a year-over-year basis. On average, equities research analysts forecast that B&G Foods, Inc. will post 0.73 EPS for the current fiscal year.

B&G Foods Announces Dividend

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 paid a dividend of $0.19 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $0.76 annualized dividend and a dividend yield of 9.87%. B&G Foods’s dividend payout ratio (DPR) is -223.52%.

Insider Activity at B&G Foods

In other news, Director Stephen Sherrill acquired 70,000 shares of B&G Foods stock in a transaction dated Friday, November 8th. The stock was acquired at an average cost of $6.63 per share, for a total transaction of $464,100.00. Following the completion of the purchase, the director now owns 353,084 shares of the company’s stock, valued at $2,340,946.92. This represents a 24.73 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Andrew D. Vogel bought 7,500 shares of the stock in a transaction that occurred on Wednesday, November 13th. The stock was purchased at an average price of $6.36 per share, for a total transaction of $47,700.00. Following the completion of the purchase, the executive vice president now directly owns 37,064 shares in the company, valued at $235,727.04. The trade was a 25.37 % increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders acquired 90,111 shares of company stock valued at $593,054. Insiders own 3.20% of the company’s stock.

Institutional Investors Weigh In On B&G Foods

Several hedge funds have recently modified their holdings of BGS. Barclays PLC grew its position in B&G Foods by 310.1% in the 3rd quarter. Barclays PLC now owns 130,693 shares of the company’s stock worth $1,160,000 after purchasing an additional 98,824 shares during the last quarter. Geode Capital Management LLC increased its position in shares of B&G Foods by 1.4% during the third quarter. Geode Capital Management LLC now owns 1,803,408 shares of the company’s stock valued at $16,018,000 after purchasing an additional 24,995 shares during the period. Stifel Financial Corp increased its holdings in B&G Foods by 1.9% in the 3rd quarter. Stifel Financial Corp now owns 181,529 shares of the company’s stock valued at $1,612,000 after buying an additional 3,359 shares during the period. Point72 Asset Management L.P. acquired a new position in shares of B&G Foods in the 3rd quarter valued at $962,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in shares of B&G Foods during the 3rd quarter worth about $102,000. 66.15% of the stock is owned by institutional investors.

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.