B&G Foods (NYSE:BGS) Stock Price Down 0.6% – Should You Sell?

B&G Foods, Inc. (NYSE:BGS) dropped 0.6% during mid-day trading on Friday . The stock traded as low as $7.58 and last traded at $7.70. Approximately 137,174 shares changed hands during trading, a decline of 88% from the average daily volume of 1,129,105 shares. The stock had previously closed at $7.75.

Analysts Set New Price Targets

BGS has been the topic of a number of recent research reports. StockNews.com upgraded B&G Foods from a “sell” rating to a “hold” rating in a report on Thursday, September 26th. Barclays reduced their price target on 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. TD Cowen lowered their price objective on B&G Foods from $8.00 to $7.50 and set a “sell” rating for the company in a research report on Wednesday, November 6th. Finally, Evercore ISI cut their target price on shares of B&G Foods from $10.00 to $9.00 and set an “in-line” rating on the stock in a report on Wednesday, November 6th. 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.com, B&G Foods currently has an average rating of “Hold” and a consensus price target of $8.30.

B&G Foods Price Performance

The company has a debt-to-equity ratio of 2.40, a quick ratio of 0.49 and a current ratio of 1.64. The business has a 50-day simple moving average of $7.48 and a 200 day simple moving average of $8.18. The firm has a market cap of $619.85 million, a P/E ratio of -23.03 and a beta of 0.54.

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

B&G Foods Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 30th. Stockholders of record on Tuesday, December 31st will be given a $0.19 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $0.76 annualized dividend and a dividend yield of 9.71%. B&G Foods’s dividend payout ratio is -223.53%.

Insider Activity

In other news, Director Stephen Sherrill acquired 70,000 shares of the business’s stock in a transaction on Friday, November 8th. The shares were acquired at an average cost of $6.63 per share, with a total value of $464,100.00. Following the transaction, the director now owns 353,084 shares in the company, valued at $2,340,946.92. The trade was a 24.73 % increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Scott E. Lerner bought 7,611 shares of B&G Foods stock in a transaction on Friday, November 8th. The shares were purchased at an average price of $6.57 per share, for a total transaction of $50,004.27. Following the acquisition, the executive vice president now directly owns 196,755 shares in the company, valued at approximately $1,292,680.35. This trade represents a 4.02 % increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 90,111 shares of company stock valued at $593,054. Corporate insiders own 3.20% of the company’s stock.

Hedge Funds Weigh In On B&G Foods

A number of institutional investors have recently added to or reduced their stakes in BGS. Innealta Capital LLC purchased a new stake in shares of B&G Foods in the 2nd quarter worth about $33,000. nVerses Capital LLC bought a new stake in B&G Foods during the second quarter worth about $33,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in B&G Foods in the third quarter worth about $102,000. CWM LLC increased its stake in shares of B&G Foods by 99.9% during the second quarter. CWM LLC now owns 14,469 shares of the company’s stock valued at $117,000 after purchasing an additional 7,231 shares in the last quarter. Finally, Canada Pension Plan Investment Board purchased a new position in shares of B&G Foods during the second quarter valued at approximately $137,000. Institutional investors 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.