B&G Foods (NYSE:BGS) Shares Down 3.3%

B&G Foods, Inc. (NYSE:BGS) traded down 3.3% during trading on Monday . The company traded as low as $9.03 and last traded at $9.03. 48,356 shares traded hands during mid-day trading, a decline of 95% from the average session volume of 1,025,338 shares. The stock had previously closed at $9.34.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the stock. Piper Sandler dropped their target price on shares of B&G Foods from $9.00 to $8.00 and set a “neutral” rating for the company in a report on Thursday, July 11th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $10.00 target price on shares of B&G Foods in a research note on Wednesday, August 7th. Barclays lowered their target price on B&G Foods from $10.00 to $8.00 and set an “equal weight” rating on the stock in a report on Friday, July 19th. Evercore ISI raised B&G Foods to a “hold” rating in a report on Wednesday, August 7th. Finally, StockNews.com upgraded B&G Foods from a “sell” rating to a “hold” rating in a research report on Thursday. Five equities research analysts have rated the stock with a hold rating, According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $8.67.

B&G Foods Stock Down 5.1 %

The firm has a market cap of $700.39 million, a price-to-earnings ratio of -6.49 and a beta of 0.60. The company has a quick ratio of 0.48, a current ratio of 1.63 and a debt-to-equity ratio of 2.33. The firm has a fifty day moving average price of $8.59 and a 200-day moving average price of $9.31.

B&G Foods (NYSE:BGS) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $0.08 EPS for the quarter, meeting the consensus estimate of $0.08. The company had revenue of $444.60 million during the quarter, compared to analysts’ expectations of $435.83 million. B&G Foods had a positive return on equity of 8.07% and a negative net margin of 5.82%. The firm’s revenue was down 5.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.15 EPS. As a group, sell-side analysts forecast that B&G Foods, Inc. will post 0.74 EPS for the current year.

B&G Foods Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 30th. Shareholders of record on Monday, September 30th will be issued a $0.19 dividend. The ex-dividend date is Monday, September 30th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 8.58%. B&G Foods’s dividend payout ratio (DPR) is presently -52.78%.

Insider Transactions at B&G Foods

In related news, EVP Jordan E. Greenberg sold 8,000 shares of B&G Foods stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $8.33, for a total value of $66,640.00. Following the transaction, the executive vice president now owns 66,095 shares in the company, valued at $550,571.35. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 3.20% of the company’s stock.

Hedge Funds Weigh In On B&G Foods

A number of hedge funds have recently made changes to their positions in BGS. Innealta Capital LLC acquired a new stake in B&G Foods in the 2nd quarter valued at $33,000. nVerses Capital LLC purchased a new stake in shares of B&G Foods during the 2nd quarter valued at about $33,000. Russell Investments Group Ltd. boosted its holdings in B&G Foods by 1,556.9% in the 1st quarter. Russell Investments Group Ltd. now owns 4,921 shares of the company’s stock worth $56,000 after acquiring an additional 4,624 shares during the period. LRI Investments LLC acquired a new stake in B&G Foods in the first quarter valued at approximately $60,000. Finally, Versant Capital Management Inc raised its stake in shares of B&G Foods by 36.9% during the second quarter. Versant Capital Management Inc now owns 5,768 shares of the company’s stock valued at $47,000 after purchasing an additional 1,555 shares during the period. 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.