B&G Foods (NYSE:BGS) Stock Price Down 3.7% - Time to Sell?

B&G Foods, Inc. (NYSE:BGS - Get Free Report)'s share price dropped 3.7% during mid-day trading on Wednesday . The company traded as low as $6.76 and last traded at $6.71. Approximately 207,012 shares traded hands during trading, a decline of 85% from the average daily volume of 1,352,021 shares. The stock had previously closed at $6.96.

Analyst Ratings Changes

Separately, Piper Sandler dropped their target price on shares of B&G Foods from $8.00 to $7.00 and set a "neutral" rating for the company in a research report on Wednesday, February 26th. One equities research analyst has rated the stock with a sell rating and five have given a hold rating to the stock. According to data from MarketBeat.com, B&G Foods currently has an average rating of "Hold" and a consensus price target of $8.10.

B&G Foods Trading Down 3.1 %

The business's 50 day moving average price is $6.68 and its two-hundred day moving average price is $7.20. The company has a market capitalization of $504.43 million, a price-to-earnings ratio of -18.75 and a beta of 0.74. The company has a current ratio of 1.64, a quick ratio of 0.49 and a debt-to-equity ratio of 2.40.

B&G Foods (NYSE:BGS - Get Free Report) last issued its earnings results on Tuesday, February 25th. The company reported $0.31 earnings per share for the quarter, beating analysts' consensus estimates of $0.30 by $0.01. 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 $551.57 million for the quarter, compared to analyst estimates of $547.95 million. On average, equities analysts predict that B&G Foods, Inc. will post 0.7 earnings per share for the current fiscal year.

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B&G Foods Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be given a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 11.92%. The ex-dividend date is Monday, March 31st. B&G Foods's dividend payout ratio (DPR) is currently -23.90%.

Institutional Trading of B&G Foods

Several institutional investors have recently modified their holdings of BGS. PNC Financial Services Group Inc. lifted its holdings in B&G Foods by 50.6% during the 4th quarter. PNC Financial Services Group Inc. now owns 7,913 shares of the company's stock worth $55,000 after buying an additional 2,658 shares during the period. Independent Wealth Network Inc. bought a new stake in B&G Foods in the fourth quarter valued at approximately $77,000. SBI Securities Co. Ltd. acquired a new stake in B&G Foods during the 4th quarter valued at approximately $79,000. Regent Peak Wealth Advisors LLC bought a new position in B&G Foods during the 4th quarter worth approximately $81,000. Finally, Prism Advisors Inc. bought a new stake in shares of B&G Foods in the 4th quarter valued at $82,000. Institutional investors own 66.15% of the company's stock.

About B&G Foods

B&G Foods, Inc is a holding company, which engages in the manufacture, sale, and distribution of shelf-stable frozen food, and household products in the U.S., Canada, and Puerto Rico. Its products include frozen and canned vegetables, hot cereals, fruit spreads, canned meats and beans, bagel chips, spices, seasonings, hot sauces, and wine vinegar.