B&G Foods (NYSE:BGS) Stock Price Down 1.6% – Should You Sell?

B&G Foods, Inc. (NYSE:BGS) shares traded down 1.6% on Wednesday . The stock traded as low as $6.67 and last traded at $6.74. 193,354 shares changed hands during trading, a decline of 82% from the average session volume of 1,098,814 shares. The stock had previously closed at $6.85.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on BGS. Barclays lowered their price objective on shares of B&G Foods from $8.00 to $7.00 and set an “equal weight” rating for the company in a research note on Thursday, November 7th. TD Cowen dropped their price target on 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. Royal Bank of Canada reissued a “sector perform” rating and set a $10.00 price objective on shares of B&G Foods in a research report on Wednesday, August 7th. Evercore ISI cut their target price 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. Finally, StockNews.com raised B&G Foods from a “sell” rating to a “hold” rating in a research report on Thursday, September 26th. One research analyst has rated the stock with a sell rating and five have issued a hold rating to the company’s stock. According to data from MarketBeat, B&G Foods presently has a consensus rating of “Hold” and an average target price of $8.30.

B&G Foods Stock Performance

The company has a market capitalization of $533.54 million, a PE ratio of -19.82 and a beta of 0.54. The company has a current ratio of 1.64, a quick ratio of 0.49 and a debt-to-equity ratio of 2.40. The business’s fifty day moving average is $7.73 and its two-hundred day moving average is $8.30.

B&G Foods (NYSE:BGS) last issued its quarterly earnings results on Tuesday, November 5th. The company reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.20 by ($0.07). The business had revenue of $461.10 million for the quarter, compared to analysts’ expectations 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 revenue was down 8.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.27 EPS. Equities research analysts predict that B&G Foods, Inc. will post 0.73 earnings per share for the current year.

B&G Foods Dividend Announcement

The company also recently announced 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 annualized dividend and a dividend yield of 11.28%. B&G Foods’s dividend payout ratio (DPR) is -223.52%.

Insider Buying and Selling

In other B&G Foods news, EVP Andrew D. Vogel purchased 7,500 shares of B&G Foods stock in a transaction dated Wednesday, November 13th. The stock was acquired at an average price of $6.36 per share, for a total transaction of $47,700.00. Following the acquisition, the executive vice president now owns 37,064 shares in the company, valued at $235,727.04. This trade represents a 25.37 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Stephen Sherrill bought 70,000 shares of the stock in a transaction on Friday, November 8th. The shares were bought at an average price of $6.63 per share, with a total value of $464,100.00. Following the acquisition, the director now owns 353,084 shares of the company’s stock, valued at $2,340,946.92. This trade 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 acquired 90,111 shares of company stock worth $593,054. Insiders own 3.20% of the company’s stock.

Institutional Investors Weigh In On B&G Foods

Hedge funds have recently bought and sold shares of the stock. Barclays PLC boosted its stake in B&G Foods by 310.1% during the 3rd quarter. Barclays PLC now owns 130,693 shares of the company’s stock worth $1,160,000 after purchasing an additional 98,824 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of 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 purchasing an additional 24,995 shares during the last quarter. Stifel Financial Corp boosted its stake in B&G Foods by 1.9% during the third quarter. Stifel Financial Corp now owns 181,529 shares of the company’s stock worth $1,612,000 after buying an additional 3,359 shares during the last quarter. Point72 Asset Management L.P. purchased a new stake in B&G Foods in the 3rd quarter valued at $962,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of B&G Foods during the 3rd quarter worth $102,000. Hedge funds and other institutional investors own 66.15% of the company’s stock.

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.