B&G Foods (NYSE:BGS) Stock Price Down 3.7% – Should You Sell?

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

Wall Street Analysts Forecast Growth

Separately, Piper Sandler cut 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 note on Wednesday, February 26th. One investment analyst has rated the stock with a sell rating and five have given a hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $8.10.

B&G Foods Trading Down 3.9 %

The company has a market capitalization of $529.43 million, a price-to-earnings ratio of -19.68 and a beta of 0.47. The business’s 50-day simple moving average is $6.66 and its 200-day simple moving average is $7.27. The company has a debt-to-equity ratio of 2.40, a quick ratio of 0.49 and a current ratio of 1.64.

B&G Foods (NYSE:BGS) last issued its earnings results on Tuesday, February 25th. The company reported $0.31 EPS for the quarter, beating the consensus estimate of $0.30 by $0.01. The firm had revenue of $551.57 million during the quarter, compared to the consensus estimate of $547.95 million. B&G Foods had a negative net margin of 1.34% and a positive return on equity of 6.97%. On average, research analysts expect that B&G Foods, Inc. will post 0.7 earnings per share for the current fiscal year.

B&G Foods Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be given a $0.19 dividend. The ex-dividend date is Monday, March 31st. This represents a $0.76 annualized dividend and a dividend yield of 11.36%. B&G Foods’s dividend payout ratio is presently -23.90%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of BGS. Stratos Wealth Partners LTD. raised its stake in B&G Foods by 12.3% in the fourth quarter. Stratos Wealth Partners LTD. now owns 14,647 shares of the company’s stock valued at $101,000 after buying an additional 1,599 shares during the period. Tower Research Capital LLC TRC lifted its holdings in B&G Foods by 5.8% during the 4th quarter. Tower Research Capital LLC TRC now owns 31,158 shares of the company’s stock valued at $215,000 after purchasing an additional 1,718 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in B&G Foods by 4.5% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 44,463 shares of the company’s stock valued at $306,000 after purchasing an additional 1,900 shares during the last quarter. PNC Financial Services Group Inc. increased its holdings in shares of B&G Foods by 50.6% in the fourth quarter. PNC Financial Services Group Inc. now owns 7,913 shares of the company’s stock valued at $55,000 after purchasing an additional 2,658 shares during the last quarter. Finally, Rhumbline Advisers raised its position in shares of B&G Foods by 1.2% in the fourth quarter. Rhumbline Advisers now owns 251,087 shares of the company’s stock valued at $1,730,000 after purchasing an additional 2,898 shares during the period. 66.15% of the stock is currently owned by institutional investors and hedge funds.

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.