B&G Foods (NYSE:BGS) Stock Price Down 3.7% – What’s Next?

B&G Foods, Inc. (NYSE:BGS) shares fell 3.7% on Wednesday . The company traded as low as $6.76 and last traded at $6.71. 207,012 shares were traded during trading, a decline of 85% from the average session volume of 1,352,021 shares. The stock had previously closed at $6.96.

Analyst Upgrades and Downgrades

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

B&G Foods Stock Performance

The stock has a 50 day moving average of $6.66 and a 200 day moving average of $7.27. 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 firm has a market cap of $529.43 million, a price-to-earnings ratio of -19.68 and a beta of 0.47.

B&G Foods (NYSE:BGS) last issued its earnings results on Tuesday, February 25th. The company reported $0.31 EPS for the quarter, beating the consensus estimate 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 analysts’ expectations of $547.95 million. As a group, analysts anticipate that B&G Foods, Inc. will post 0.7 EPS for the current fiscal year.

B&G Foods Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be issued a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 11.36%. The ex-dividend date is Monday, March 31st. B&G Foods’s dividend payout ratio (DPR) is currently -23.90%.

Institutional Investors Weigh In On B&G Foods

Hedge funds have recently added to or reduced their stakes in the business. Dana Investment Advisors Inc. raised its stake in shares of B&G Foods by 20.3% during the fourth quarter. Dana Investment Advisors Inc. now owns 764,745 shares of the company’s stock valued at $5,269,000 after acquiring an additional 129,202 shares during the last quarter. Barclays PLC lifted its holdings in B&G Foods by 310.1% during the 3rd quarter. Barclays PLC now owns 130,693 shares of the company’s stock worth $1,160,000 after buying an additional 98,824 shares during the period. Verition Fund Management LLC increased its stake in shares of B&G Foods by 3,480.9% in the third quarter. Verition Fund Management LLC now owns 379,394 shares of the company’s stock valued at $3,369,000 after buying an additional 368,799 shares during the period. Wedge Capital Management L L P NC bought a new position in shares of B&G Foods during the fourth quarter worth about $857,000. Finally, Intech Investment Management LLC lifted its stake in shares of B&G Foods by 130.9% in the fourth quarter. Intech Investment Management LLC now owns 108,675 shares of the company’s stock worth $749,000 after acquiring an additional 61,619 shares during the period. 66.15% of the stock is currently owned by institutional investors and hedge funds.

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.