B&G Foods (NYSE:BGS) Stock Price Down 1.1% – Should You Sell?

B&G Foods, Inc. (NYSE:BGS)’s share price fell 1.1% on Thursday . The stock traded as low as $6.12 and last traded at $6.20. 305,335 shares changed hands during trading, a decline of 72% from the average session volume of 1,090,113 shares. The stock had previously closed at $6.27.

Analyst Ratings Changes

Several brokerages have recently weighed in on BGS. TD Cowen lowered their target price on B&G Foods from $8.00 to $7.50 and set a “sell” rating on the stock in a report on Wednesday, November 6th. Royal Bank of Canada restated a “sector perform” rating and set a $10.00 target price on shares of B&G Foods in a report on Wednesday, August 7th. Barclays reduced their price target on shares of B&G Foods from $8.00 to $7.00 and set an “equal weight” rating on the stock in a research report on Thursday, November 7th. Evercore ISI reduced their price target on shares of B&G Foods from $10.00 to $9.00 and set an “in-line” rating on the stock in a research report on Wednesday, November 6th. Finally, StockNews.com raised shares of B&G Foods from a “sell” rating to a “hold” rating in a research report on Thursday, September 26th. One analyst has rated the stock with a sell rating and five have issued a hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $8.30.

B&G Foods Trading Up 2.4 %

The company has a market cap of $517.31 million, a PE ratio of -19.22 and a beta of 0.61. 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 business has a 50-day simple moving average of $8.12 and a 200-day simple moving average of $8.47.

B&G Foods (NYSE:BGS) last announced its earnings results on Tuesday, November 5th. The company reported $0.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.07). The firm had revenue of $461.10 million during the quarter, compared to analysts’ expectations of $473.82 million. B&G Foods had a negative net margin of 1.34% and a positive return on equity of 6.97%. The firm’s revenue for the quarter was down 8.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.27 EPS. On average, analysts predict that B&G Foods, Inc. will post 0.73 EPS for the current fiscal year.

B&G Foods Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 30th. Stockholders of record on Tuesday, December 31st will be given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 11.63%. The ex-dividend date is Tuesday, December 31st. B&G Foods’s dividend payout ratio is currently -223.52%.

Insider Transactions at B&G Foods

In related news, Director Stephen Sherrill acquired 70,000 shares of the business’s stock in a transaction dated Friday, November 8th. The shares were acquired at an average price of $6.63 per share, with a total value of $464,100.00. Following the completion of the transaction, the director now owns 353,084 shares of the company’s stock, valued at $2,340,946.92. The trade was a 24.73 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Jordan E. Greenberg sold 8,000 shares of the company’s 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 sale, the executive vice president now directly owns 66,095 shares in the company, valued at $550,571.35. This represents a 10.80 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have purchased 90,111 shares of company stock valued at $593,054. 3.20% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On B&G Foods

A number of institutional investors and hedge funds have recently modified their holdings of BGS. Innealta Capital LLC acquired a new position in shares of B&G Foods during the second quarter worth $33,000. nVerses Capital LLC acquired a new position in B&G Foods in the second quarter valued at $33,000. Versant Capital Management Inc boosted its stake in B&G Foods by 36.9% in the second quarter. Versant Capital Management Inc now owns 5,768 shares of the company’s stock valued at $47,000 after acquiring an additional 1,555 shares in the last quarter. Russell Investments Group Ltd. boosted its stake in B&G Foods by 1,556.9% in the first quarter. Russell Investments Group Ltd. now owns 4,921 shares of the company’s stock valued at $56,000 after acquiring an additional 4,624 shares in the last quarter. Finally, LRI Investments LLC acquired a new position in B&G Foods in the first quarter valued at $60,000. Institutional investors and hedge funds own 66.15% of the company’s stock.

About B&G Foods

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.