B&G Foods (NYSE:BGS) Trading Down 6.3%

B&G Foods, Inc. (NYSE:BGSGet Free Report)’s share price was down 6.3% during trading on Friday . The company traded as low as $8.28 and last traded at $8.29. Approximately 671,223 shares traded hands during mid-day trading, a decline of 38% from the average daily volume of 1,081,085 shares. The stock had previously closed at $8.85.

Wall Street Analyst Weigh In

Several analysts have issued reports on BGS shares. StockNews.com downgraded shares of B&G Foods from a “hold” rating to a “sell” rating in a research note on Friday, May 10th. Piper Sandler raised B&G Foods from an “underweight” rating to a “neutral” rating and set a $9.00 target price on the stock in a research note on Thursday, May 16th. Two analysts have rated the stock with a sell rating and two have given a hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $9.50.

Get Our Latest Stock Report on B&G Foods

B&G Foods Stock Down 5.2 %

The company has a current ratio of 3.22, a quick ratio of 0.92 and a debt-to-equity ratio of 2.58. The stock has a market cap of $663.23 million, a P/E ratio of -5.77 and a beta of 0.61. The firm’s fifty day moving average is $10.09 and its 200 day moving average is $10.32.

B&G Foods (NYSE:BGSGet Free Report) last announced its earnings results on Wednesday, May 8th. The company reported $0.18 EPS for the quarter, missing the consensus estimate of $0.20 by ($0.02). B&G Foods had a positive return on equity of 8.33% and a negative net margin of 5.42%. The business had revenue of $475.22 million during the quarter, compared to analyst estimates of $480.93 million. During the same period in the previous year, the firm earned $0.27 earnings per share. The firm’s revenue was down 7.1% compared to the same quarter last year. As a group, equities research analysts forecast that B&G Foods, Inc. will post 0.79 EPS for the current year.

B&G Foods Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 30th. Stockholders of record on Friday, June 28th will be paid a dividend of $0.19 per share. The ex-dividend date of this dividend is Friday, June 28th. This represents a $0.76 annualized dividend and a dividend yield of 9.06%. B&G Foods’s dividend payout ratio is currently -52.78%.

Insiders Place Their Bets

In other news, Director Stephen Sherrill purchased 125,000 shares of B&G Foods stock in a transaction that occurred on Monday, May 13th. The stock was acquired at an average cost of $8.59 per share, for a total transaction of $1,073,750.00. Following the purchase, the director now directly owns 270,136 shares of the company’s stock, valued at approximately $2,320,468.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Stephen Sherrill bought 125,000 shares of the stock in a transaction on Monday, May 13th. The stock was acquired at an average price of $8.59 per share, with a total value of $1,073,750.00. Following the acquisition, the director now directly owns 270,136 shares in the company, valued at $2,320,468.24. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Bruce C. Wacha purchased 5,200 shares of the firm’s stock in a transaction dated Monday, May 13th. The stock was bought at an average cost of $8.59 per share, with a total value of $44,668.00. Following the purchase, the chief financial officer now owns 91,328 shares of the company’s stock, valued at approximately $784,507.52. The disclosure for this purchase can be found here. Over the last three months, insiders have bought 141,955 shares of company stock valued at $1,218,453. 3.20% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. grew its position in B&G Foods by 13.4% in the fourth quarter. Vanguard Group Inc. now owns 10,043,164 shares of the company’s stock worth $105,453,000 after acquiring an additional 1,190,116 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in B&G Foods by 11.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,757,114 shares of the company’s stock worth $18,450,000 after purchasing an additional 181,724 shares in the last quarter. Invesco Ltd. raised its holdings in B&G Foods by 72.7% in the third quarter. Invesco Ltd. now owns 1,087,931 shares of the company’s stock worth $10,760,000 after purchasing an additional 458,082 shares in the last quarter. Smith Graham & Co. Investment Advisors LP raised its holdings in B&G Foods by 4.3% in the fourth quarter. Smith Graham & Co. Investment Advisors LP now owns 630,628 shares of the company’s stock worth $6,622,000 after purchasing an additional 25,891 shares in the last quarter. Finally, Gilman Hill Asset Management LLC raised its holdings in B&G Foods by 4.0% in the first quarter. Gilman Hill Asset Management LLC now owns 583,953 shares of the company’s stock worth $6,680,000 after purchasing an additional 22,534 shares in the last quarter. Hedge funds and other institutional investors own 66.15% of the company’s stock.

About B&G Foods

(Get Free Report)

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.

Further Reading

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