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

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

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on BGS shares. 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 report on Wednesday, November 6th. StockNews.com upgraded B&G Foods from a "sell" rating to a "hold" rating in a research note on Thursday, September 26th. 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. Finally, Evercore ISI lowered 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. One 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, the company currently has a consensus rating of "Hold" and an average price target of $8.30.

B&G Foods Stock Performance

The firm has a market cap of $577.11 million, a price-to-earnings ratio of -21.44 and a beta of 0.54. The company has a quick ratio of 0.49, a current ratio of 1.64 and a debt-to-equity ratio of 2.40. The company has a 50 day moving average of $7.47 and a 200 day moving average of $8.15.

B&G Foods (NYSE:BGS - Get Free Report) last announced 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 business had revenue of $461.10 million during the quarter, compared to analyst estimates of $473.82 million. During the same period in the previous year, the company earned $0.27 earnings per share. The business's revenue for the quarter was down 8.3% on a year-over-year basis. As a group, equities research analysts expect that B&G Foods, Inc. will post 0.73 EPS for the current fiscal year.

B&G Foods Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 30th. Investors of record on Tuesday, December 31st will be issued a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 10.43%. The ex-dividend date of this dividend is Tuesday, December 31st. B&G Foods's dividend payout ratio is currently -223.53%.

Insiders Place Their Bets

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

Hedge Funds Weigh In On B&G Foods

Several institutional investors have recently made changes to their positions in the stock. Dimensional Fund Advisors LP lifted its holdings 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 worth $15,501,000 after purchasing an additional 485,714 shares during the last quarter. Geode Capital Management LLC lifted its stake 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 valued at $16,018,000 after buying an additional 24,995 shares during the last quarter. American Century Companies Inc. boosted its holdings in shares of B&G Foods by 71.3% during the second quarter. American Century Companies Inc. now owns 1,640,354 shares of the company's stock valued at $13,254,000 after acquiring an additional 682,688 shares during the period. Bank of New York Mellon Corp grew its position 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 acquiring an additional 5,842 shares during the last quarter. Finally, Dana Investment Advisors Inc. grew its position in shares of 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 acquiring an additional 134,937 shares during the last quarter. 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.