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

B&G Foods, Inc. (NYSE:BGS)’s share price fell 5.1% on Thursday . The stock traded as low as $6.86 and last traded at $6.85. 808,315 shares changed hands during mid-day trading, a decline of 36% from the average session volume of 1,253,704 shares. The stock had previously closed at $7.21.

Analyst Upgrades and Downgrades

Separately, Piper Sandler dropped their price objective on shares of B&G Foods from $8.00 to $7.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 26th. One analyst has rated the stock with a sell rating and five have issued a hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $8.10.

B&G Foods Stock Performance

The stock has a market capitalization of $560.69 million, a price-to-earnings ratio of -20.84 and a beta of 0.47. The company has a quick ratio of 0.49, a current ratio of 1.64 and a debt-to-equity ratio of 2.40. The stock’s 50-day simple moving average is $6.64 and its 200 day simple moving average is $7.36.

B&G Foods (NYSE:BGS) last announced its earnings results 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 during the quarter, compared to the consensus estimate of $547.95 million. Analysts expect that B&G Foods, Inc. will post 0.7 earnings per share for the current fiscal year.

B&G Foods Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be issued a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 10.73%. The ex-dividend date of this dividend is Monday, March 31st. B&G Foods’s dividend payout ratio is currently -23.90%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Dimensional Fund Advisors LP raised its position in B&G Foods by 28.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,353,557 shares of the company’s stock worth $23,106,000 after acquiring an additional 744,898 shares in the last quarter. American Century Companies Inc. raised its position in B&G Foods by 13.7% during the fourth quarter. American Century Companies Inc. now owns 2,226,706 shares of the company’s stock worth $15,342,000 after acquiring an additional 267,455 shares in the last quarter. Geode Capital Management LLC raised its position in shares of B&G Foods by 0.3% in the fourth quarter. Geode Capital Management LLC now owns 1,809,054 shares of the company’s stock valued at $12,468,000 after purchasing an additional 5,646 shares during the period. Invesco Ltd. raised its position in shares of B&G Foods by 55.7% in the fourth quarter. Invesco Ltd. now owns 1,132,834 shares of the company’s stock valued at $7,805,000 after purchasing an additional 405,033 shares during the period. Finally, Northern Trust Corp raised its position in shares of B&G Foods by 10.0% in the fourth quarter. Northern Trust Corp now owns 872,186 shares of the company’s stock valued at $6,009,000 after purchasing an additional 79,226 shares during the period. Institutional investors and hedge funds own 66.15% of the company’s stock.

B&G Foods Company Profile

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.