B&G Foods (NYSE:BGS) Trading Down 0.9% – What’s Next?

B&G Foods, Inc. (NYSE:BGS)’s stock price dropped 0.9% during mid-day trading on Wednesday . The company traded as low as $7.43 and last traded at $7.58. Approximately 340,275 shares traded hands during trading, a decline of 70% from the average daily volume of 1,121,771 shares. The stock had previously closed at $7.65.

Analysts Set New Price Targets

Several equities analysts recently issued reports on BGS shares. Barclays reduced their price target on 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. TD Cowen lowered their price target on 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. Evercore ISI lowered their target price on shares of B&G Foods from $10.00 to $9.00 and set an “in-line” rating on the stock in a research note on Wednesday, November 6th. Finally, StockNews.com upgraded B&G Foods from a “sell” rating to a “hold” rating in a research report on Thursday, September 26th. One analyst has rated the stock with a sell rating and five have assigned a hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $8.30.

B&G Foods Stock Up 1.0 %

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’s 50-day moving average price is $7.50 and its 200 day moving average price is $8.20. The stock has a market capitalization of $619.82 million, a P/E ratio of -22.65 and a beta of 0.54.

B&G Foods (NYSE:BGS) last released its quarterly earnings data 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). The business had revenue of $461.10 million during the quarter, compared to the consensus estimate of $473.82 million. B&G Foods had a positive return on equity of 6.97% and a negative net margin of 1.34%. The business’s revenue was down 8.3% on a year-over-year basis. During the same period last year, the company earned $0.27 EPS. As a group, equities analysts expect that B&G Foods, Inc. will post 0.73 earnings per share for the current year.

B&G Foods Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 30th. Investors of record on Tuesday, December 31st will be given a dividend of $0.19 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $0.76 dividend on an annualized basis and a dividend yield of 9.71%. B&G Foods’s dividend payout ratio is -223.52%.

Insider Buying and Selling at B&G Foods

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

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in BGS. Barclays PLC grew its position in shares of B&G Foods by 310.1% during the 3rd quarter. Barclays PLC now owns 130,693 shares of the company’s stock worth $1,160,000 after buying an additional 98,824 shares in the last quarter. 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. Stifel Financial Corp boosted its stake in B&G Foods by 1.9% in the 3rd quarter. Stifel Financial Corp now owns 181,529 shares of the company’s stock worth $1,612,000 after purchasing an additional 3,359 shares in the last quarter. Point72 Asset Management L.P. acquired a new position in B&G Foods during the 3rd quarter valued at approximately $962,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in B&G Foods in the 3rd quarter worth $102,000. 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.