B&G Foods (NYSE:BGS) Stock Price Down 5.1% - Here's What Happened

B&G Foods, Inc. (NYSE:BGS - Get Free Report)'s stock price was down 5.1% on Thursday . The stock traded as low as $6.86 and last traded at $6.85. Approximately 808,315 shares changed hands during trading, a decline of 36% from the average daily volume of 1,253,704 shares. The stock had previously closed at $7.21.

Wall Street Analysts Forecast Growth

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

B&G Foods Price Performance

The firm has a market capitalization of $539.33 million, a PE ratio of -20.04 and a beta of 0.47. The firm's fifty day moving average price is $6.64 and its 200 day moving average price is $7.35. 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 released its quarterly earnings data 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 positive return on equity of 6.97% and a negative net margin of 1.34%. The business had revenue of $551.57 million during the quarter, compared to analyst estimates of $547.95 million. As a group, equities analysts forecast that B&G Foods, Inc. will post 0.7 earnings per share for the current year.

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B&G Foods Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be issued a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 11.15%. The ex-dividend date is Monday, March 31st. B&G Foods's dividend payout ratio (DPR) is presently -23.90%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP boosted its position in B&G Foods by 28.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,353,557 shares of the company's stock worth $23,106,000 after purchasing an additional 744,898 shares in the last quarter. Two Sigma Investments LP grew its stake in B&G Foods by 113.2% in the 4th quarter. Two Sigma Investments LP now owns 830,817 shares of the company's stock valued at $5,724,000 after acquiring an additional 441,117 shares during the period. Invesco Ltd. increased its holdings in B&G Foods by 55.7% in the 4th quarter. Invesco Ltd. now owns 1,132,834 shares of the company's stock worth $7,805,000 after acquiring an additional 405,033 shares in the last quarter. Verition Fund Management LLC lifted its holdings in B&G Foods by 3,480.9% during the third quarter. Verition Fund Management LLC now owns 379,394 shares of the company's stock valued at $3,369,000 after purchasing an additional 368,799 shares in the last quarter. Finally, Barclays PLC grew its position in shares of B&G Foods by 267.5% in the fourth quarter. Barclays PLC now owns 480,312 shares of the company's stock valued at $3,308,000 after purchasing an additional 349,619 shares during the period. Hedge funds and other institutional investors own 66.15% of the company's stock.

B&G Foods Company Profile

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.