B&G Foods (NYSE:BGS) Trading Down 1.9% – Should You Sell?

B&G Foods, Inc. (NYSE:BGS) shares traded down 1.9% during mid-day trading on Tuesday . The company traded as low as $6.70 and last traded at $6.74. 155,256 shares changed hands during trading, a decline of 86% from the average session volume of 1,098,216 shares. The stock had previously closed at $6.87.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. TD Cowen cut their price target on shares of B&G Foods from $8.00 to $7.50 and set a “sell” rating on the stock in a report on Wednesday, November 6th. Royal Bank of Canada reiterated a “sector perform” rating and set a $10.00 target price on shares of B&G Foods in a report on Wednesday, August 7th. StockNews.com upgraded B&G Foods from a “sell” rating to a “hold” rating in a report on Thursday, September 26th. Evercore ISI dropped their target price on B&G Foods from $10.00 to $9.00 and set an “in-line” rating on the stock in a research report on Wednesday, November 6th. Finally, Barclays dropped their target price on shares of 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. One analyst has rated the stock with a sell rating and five have issued a hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $8.30.

B&G Foods Trading Down 1.6 %

The stock’s 50 day moving average is $7.69 and its 200 day moving average is $8.28. 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) last issued its earnings results 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 for 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 company’s quarterly revenue was down 8.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.27 earnings per share. Sell-side analysts predict that B&G Foods, Inc. will post 0.73 EPS for the current fiscal year.

B&G Foods Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 30th. Shareholders of record on Tuesday, December 31st will be paid a dividend of $0.19 per share. The ex-dividend date is Tuesday, December 31st. This represents a $0.76 annualized dividend and a yield of 11.28%. B&G Foods’s dividend payout ratio (DPR) is presently -223.52%.

Insider Buying and Selling at B&G Foods

In other B&G Foods news, EVP Andrew D. Vogel acquired 7,500 shares of the firm’s stock in a transaction that occurred on Wednesday, November 13th. The stock was purchased at an average cost of $6.36 per share, for a total transaction of $47,700.00. Following the completion of the acquisition, 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 transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Stephen Sherrill acquired 70,000 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The stock was acquired at an average price of $6.63 per share, with a total value of $464,100.00. Following the completion of the acquisition, the director now directly owns 353,084 shares of the company’s stock, valued at $2,340,946.92. This represents a 24.73 % increase in their position. The disclosure for this purchase can be found here. Insiders have acquired a total of 90,111 shares of company stock valued at $593,054 in the last 90 days. 3.20% of the stock is currently owned by corporate insiders.

Institutional Trading of B&G Foods

Large investors have recently modified their holdings of the company. Price T Rowe Associates Inc. MD boosted its position in shares of B&G Foods by 7.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 54,862 shares of the company’s stock valued at $628,000 after acquiring an additional 3,979 shares during the period. B. Riley Wealth Advisors Inc. acquired a new position in B&G Foods in the first quarter worth about $184,000. California State Teachers Retirement System grew its stake in shares of B&G Foods by 3.2% in the 1st quarter. California State Teachers Retirement System now owns 78,527 shares of the company’s stock valued at $898,000 after purchasing an additional 2,466 shares during the period. Cetera Advisors LLC bought a new position in shares of B&G Foods during the 1st quarter worth approximately $202,000. Finally, CWM LLC raised its stake in B&G Foods by 99.9% during the second quarter. CWM LLC now owns 14,469 shares of the company’s stock worth $117,000 after acquiring an additional 7,231 shares in the last quarter. 66.15% of the stock is owned by institutional investors.

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.