B&G Foods (NYSE:BGS) Trading Down 5.1% – What’s Next?

Shares of B&G Foods, Inc. (NYSE:BGS) dropped 5.1% during trading on Thursday . The stock traded as low as $6.86 and last traded at $6.85. Approximately 808,315 shares were traded during mid-day trading, a decline of 36% from the average daily volume of 1,253,704 shares. The stock had previously closed at $7.21.

Wall Street Analysts Forecast Growth

Separately, Piper Sandler lowered 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 equities research analyst has rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. Based on data from MarketBeat, B&G Foods currently has a consensus rating of “Hold” and a consensus price target of $8.10.

B&G Foods Price Performance

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 has a market cap of $560.69 million, a price-to-earnings ratio of -20.84 and a beta of 0.47. The business’s fifty day simple moving average is $6.64 and its 200 day simple moving average is $7.36.

B&G Foods (NYSE:BGS) last issued its quarterly earnings data on Tuesday, February 25th. The company reported $0.31 EPS for the quarter, topping analysts’ consensus estimates of $0.30 by $0.01. The firm had revenue of $551.57 million for the quarter, compared to analyst estimates of $547.95 million. B&G Foods had a negative net margin of 1.34% and a positive return on equity of 6.97%. Research analysts predict that B&G Foods, Inc. will post 0.7 EPS for the current fiscal year.

B&G Foods Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be paid a $0.19 dividend. The ex-dividend date is Monday, March 31st. This represents a $0.76 dividend on an annualized basis and a dividend yield of 10.73%. B&G Foods’s dividend payout ratio (DPR) is presently -23.90%.

Institutional Investors Weigh In On B&G Foods

A number of institutional investors have recently modified their holdings of the business. Stratos Wealth Partners LTD. grew its position in shares of B&G Foods by 12.3% during the 4th 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 last quarter. Tower Research Capital LLC TRC grew its position in B&G Foods by 5.8% in the 4th quarter. Tower Research Capital LLC TRC now owns 31,158 shares of the company’s stock worth $215,000 after purchasing an additional 1,718 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in B&G Foods by 4.5% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 44,463 shares of the company’s stock worth $306,000 after purchasing an additional 1,900 shares during the last quarter. PNC Financial Services Group Inc. lifted its stake in shares of B&G Foods by 50.6% in the 4th quarter. PNC Financial Services Group Inc. now owns 7,913 shares of the company’s stock worth $55,000 after acquiring an additional 2,658 shares during the period. Finally, Rhumbline Advisers lifted its stake in shares of B&G Foods by 1.2% in the 4th quarter. Rhumbline Advisers now owns 251,087 shares of the company’s stock worth $1,730,000 after acquiring an additional 2,898 shares during the period. Institutional investors own 66.15% of the company’s stock.

About B&G Foods

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.