B&G Foods (NYSE:BGS) Shares Down 1.1% – Here’s What Happened

B&G Foods, Inc. (NYSE:BGS)’s share price was down 1.1% during trading on Thursday . The stock traded as low as $6.12 and last traded at $6.20. Approximately 305,335 shares traded hands during trading, a decline of 72% from the average daily volume of 1,090,113 shares. The stock had previously closed at $6.27.

Analysts Set New Price Targets

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

B&G Foods Trading Up 1.3 %

The company has a debt-to-equity ratio of 2.40, a current ratio of 1.64 and a quick ratio of 0.49. The stock has a market capitalization of $502.67 million, a price-to-earnings ratio of -18.65 and a beta of 0.61. The business has a 50 day simple moving average of $8.17 and a 200-day simple moving average of $8.49.

B&G Foods (NYSE:BGS) last issued its quarterly earnings results on Tuesday, November 5th. The company reported $0.13 EPS for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.07). The firm had revenue of $461.10 million during the quarter, compared to the consensus estimate of $473.82 million. B&G Foods had a negative net margin of 1.34% and a positive return on equity of 6.97%. The business’s revenue for the quarter was down 8.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.27 earnings per share. 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 company also recently declared a quarterly dividend, which will be paid on Thursday, January 30th. Stockholders of record on Tuesday, December 31st will be issued a $0.19 dividend. 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 11.97%. B&G Foods’s dividend payout ratio (DPR) is -223.52%.

Insider Buying and Selling

In related news, EVP Jordan E. Greenberg sold 8,000 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $8.33, for a total transaction of $66,640.00. Following the sale, the executive vice president now owns 66,095 shares in the company, valued at approximately $550,571.35. This represents a 10.80 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Eric H. Hart bought 5,000 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The shares were bought at an average price of $6.25 per share, for a total transaction of $31,250.00. Following the acquisition, the executive vice president now directly owns 88,899 shares of the company’s stock, valued at $555,618.75. This represents a 5.96 % increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders have purchased 90,111 shares of company stock worth $593,054. Corporate insiders own 3.20% of the company’s stock.

Institutional Trading of B&G Foods

Several institutional investors and hedge funds have recently bought and sold shares of the business. Dimensional Fund Advisors LP raised its stake in B&G Foods by 33.9% in the second quarter. Dimensional Fund Advisors LP now owns 1,918,418 shares of the company’s stock valued at $15,501,000 after buying an additional 485,714 shares during the period. Geode Capital Management LLC raised 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 period. American Century Companies Inc. raised its stake in B&G Foods by 71.3% in the second quarter. American Century Companies Inc. now owns 1,640,354 shares of the company’s stock valued at $13,254,000 after buying 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% in the second quarter. Bank of New York Mellon Corp now owns 1,200,039 shares of the company’s stock valued at $9,696,000 after purchasing 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% in the second quarter. Dana Investment Advisors Inc. now owns 710,244 shares of the company’s stock valued at $5,739,000 after purchasing an additional 134,937 shares during the last quarter. Institutional investors own 66.15% of the company’s stock.

About B&G Foods

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.