B&G Foods (NYSE:BGS) Shares Down 4.3% – What’s Next?

B&G Foods, Inc. (NYSE:BGS) was down 4.3% during trading on Wednesday . The stock traded as low as $7.11 and last traded at $7.21. Approximately 196,018 shares were traded during mid-day trading, a decline of 89% from the average daily volume of 1,808,213 shares. The stock had previously closed at $7.53.

Analysts Set New Price Targets

Separately, Piper Sandler decreased their price target 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 investment analyst has rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $8.10.

B&G Foods Stock Down 1.8 %

The company has a debt-to-equity ratio of 2.40, a current ratio of 1.64 and a quick ratio of 0.49. The business’s 50 day moving average is $6.58 and its 200-day moving average is $7.42. The company has a market cap of $585.23 million, a PE ratio of -21.65 and a beta of 0.47.

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

B&G Foods Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be issued 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 10.28%. B&G Foods’s payout ratio is -23.90%.

Hedge Funds Weigh In On B&G Foods

A number of institutional investors have recently modified their holdings of the business. Janney Montgomery Scott LLC increased its stake in B&G Foods by 1.7% in the 3rd quarter. Janney Montgomery Scott LLC now owns 254,265 shares of the company’s stock valued at $2,258,000 after buying an additional 4,240 shares during the period. Versor Investments LP boosted its position in shares of B&G Foods by 13.4% during the 3rd quarter. Versor Investments LP now owns 24,300 shares of the company’s stock worth $216,000 after purchasing an additional 2,862 shares in the last quarter. Empowered Funds LLC boosted its position in shares of B&G Foods by 5.4% in the 3rd quarter. Empowered Funds LLC now owns 315,620 shares of the company’s stock worth $2,803,000 after buying an additional 16,080 shares in the last quarter. Intech Investment Management LLC boosted its position in shares of B&G Foods by 87.8% in the 3rd quarter. Intech Investment Management LLC now owns 47,056 shares of the company’s stock worth $418,000 after buying an additional 22,003 shares in the last quarter. Finally, Landscape Capital Management L.L.C. purchased a new stake in shares of B&G Foods in the 3rd quarter worth about $1,201,000. 66.15% of the stock is owned by institutional investors and hedge funds.

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.