B&G Foods (NYSE:BGS) Shares Down 0.6% – Here’s Why

B&G Foods, Inc. (NYSE:BGS)’s share price traded down 0.6% on Friday . The company traded as low as $7.58 and last traded at $7.70. 137,174 shares were traded during trading, a decline of 88% from the average session volume of 1,129,105 shares. The stock had previously closed at $7.75.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. TD Cowen decreased their price target on shares of B&G Foods from $8.00 to $7.50 and set a “sell” rating for the company in a research note on Wednesday, November 6th. Evercore ISI cut their price target on shares of B&G Foods from $10.00 to $9.00 and set an “in-line” rating on the stock in a research note on Wednesday, November 6th. Barclays dropped their price objective on B&G Foods from $8.00 to $7.00 and set an “equal weight” rating on the stock in a report on Thursday, November 7th. Finally, StockNews.com upgraded shares of B&G Foods from a “sell” rating to a “hold” rating in a research report on Thursday, September 26th. One analyst has rated the stock with a sell rating and five have issued a hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $8.30.

B&G Foods Stock Performance

The company has a market cap of $609.53 million, a PE ratio of -22.65 and a beta of 0.54. The company has a debt-to-equity ratio of 2.40, a quick ratio of 0.49 and a current ratio of 1.64. The stock’s 50-day simple moving average is $7.50 and its 200 day simple moving average is $8.20.

B&G Foods (NYSE:BGS) last announced its quarterly earnings data 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 during the quarter, compared to analysts’ expectations of $473.82 million. B&G Foods had a negative net margin of 1.34% and a positive return on equity of 6.97%. B&G Foods’s revenue for the quarter was down 8.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.27 EPS. As a group, equities analysts anticipate that B&G Foods, Inc. will post 0.73 EPS for the current year.

B&G Foods Dividend Announcement

The business 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 9.87%. B&G Foods’s dividend payout ratio is presently -223.52%.

Insider Buying and Selling

In other B&G Foods news, EVP Scott E. Lerner bought 7,611 shares of the company’s stock in a transaction on Friday, November 8th. The stock was purchased at an average cost of $6.57 per share, for a total transaction of $50,004.27. Following the acquisition, the executive vice president now owns 196,755 shares of the company’s stock, valued at $1,292,680.35. The trade was a 4.02 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Stephen Sherrill purchased 70,000 shares of B&G Foods stock in a transaction on Friday, November 8th. The stock was acquired at an average cost of $6.63 per share, for a total transaction of $464,100.00. Following the acquisition, the director now directly owns 353,084 shares of the company’s stock, valued at approximately $2,340,946.92. This represents a 24.73 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders have purchased 90,111 shares of company stock valued at $593,054. Corporate insiders own 3.20% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of BGS. Dimensional Fund Advisors LP raised its holdings in shares of 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 worth $15,501,000 after acquiring an additional 485,714 shares during the last quarter. Geode Capital Management LLC lifted its holdings in B&G Foods by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 1,803,408 shares of the company’s stock valued at $16,018,000 after purchasing an additional 24,995 shares in the last quarter. American Century Companies Inc. boosted its stake in shares of B&G Foods by 71.3% during the 2nd quarter. American Century Companies Inc. now owns 1,640,354 shares of the company’s stock worth $13,254,000 after purchasing an additional 682,688 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in shares of B&G Foods by 0.5% during the second quarter. Bank of New York Mellon Corp now owns 1,200,039 shares of the company’s stock worth $9,696,000 after buying an additional 5,842 shares in the last quarter. Finally, Dana Investment Advisors Inc. lifted its stake in shares of B&G Foods by 23.5% during the second quarter. Dana Investment Advisors Inc. now owns 710,244 shares of the company’s stock valued at $5,739,000 after buying an additional 134,937 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 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.