B&G Foods, Inc. (NYSE:BGS – Get Free Report)’s share price was down 4.5% during mid-day trading on Friday after Piper Sandler lowered their price target on the stock from $15.00 to $14.00. The stock traded as low as $13.06 and last traded at $13.12. Approximately 369,471 shares traded hands during trading, a decline of 61% from the average daily volume of 937,230 shares. The stock had previously closed at $13.74.
A number of other equities research analysts have also commented on the company. StockNews.com initiated coverage on B&G Foods in a research report on Thursday, May 18th. They issued a “hold” rating on the stock. Barclays decreased their price objective on shares of B&G Foods from $16.00 to $15.00 and set an “equal weight” rating on the stock in a report on Thursday, July 20th. Two equities research analysts have rated the stock with a sell rating and six have issued a hold rating to the stock. According to MarketBeat.com, B&G Foods currently has an average rating of “Hold” and an average target price of $13.42.
Insider Transactions at B&G Foods
In related news, EVP Jordan E. Greenberg sold 13,000 shares of the firm’s stock in a transaction dated Wednesday, June 14th. The stock was sold at an average price of $13.45, for a total value of $174,850.00. Following the transaction, the executive vice president now owns 56,999 shares in the company, valued at $766,636.55. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.80% of the stock is currently owned by insiders.
Hedge Funds Weigh In On B&G Foods
Large investors have recently modified their holdings of the business. Louisiana State Employees Retirement System lifted its holdings in B&G Foods by 13.5% during the 2nd quarter. Louisiana State Employees Retirement System now owns 37,900 shares of the company’s stock worth $528,000 after purchasing an additional 4,500 shares during the last quarter. Foundry Partners LLC bought a new position in shares of B&G Foods during the second quarter valued at $3,173,000. AE Wealth Management LLC grew its holdings in B&G Foods by 4.7% during the 2nd quarter. AE Wealth Management LLC now owns 68,822 shares of the company’s stock worth $958,000 after acquiring an additional 3,120 shares during the period. Richard P Slaughter Associates Inc boosted its holdings in shares of B&G Foods by 0.9% during the 2nd quarter. Richard P Slaughter Associates Inc now owns 87,452 shares of the company’s stock worth $1,217,000 after buying an additional 772 shares in the last quarter. Finally, Ameriprise Financial Inc. boosted its holdings in B&G Foods by 6.1% in the first quarter. Ameriprise Financial Inc. now owns 373,325 shares of the company’s stock worth $5,803,000 after acquiring an additional 21,470 shares in the last quarter. 63.64% of the stock is currently owned by institutional investors and hedge funds.
B&G Foods Price Performance
The company has a market capitalization of $945.23 million, a P/E ratio of -29.75 and a beta of 0.46. The business’s 50-day moving average is $13.58 and its two-hundred day moving average is $14.15. The company has a quick ratio of 1.02, a current ratio of 4.06 and a debt-to-equity ratio of 2.65.
B&G Foods (NYSE:BGS – Get Free Report) last issued its earnings results on Thursday, May 4th. The company reported $0.27 EPS for the quarter, topping analysts’ consensus estimates of $0.26 by $0.01. The company had revenue of $511.81 million for the quarter, compared to analysts’ expectations of $528.18 million. B&G Foods had a negative net margin of 1.48% and a positive return on equity of 8.59%. The firm’s revenue was down 3.9% compared to the same quarter last year. During the same quarter last year, the company earned $0.34 EPS. As a group, analysts predict that B&G Foods, Inc. will post 1.01 earnings per share for the current year.
B&G Foods Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Monday, July 31st. Investors of record on Friday, June 30th will be given a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 5.81%. The ex-dividend date is Thursday, June 29th. B&G Foods’s dividend payout ratio (DPR) is currently -172.73%.
B&G Foods Company Profile
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, baking powder and soda, cookies and crackers, corn starch, nut clusters, and other specialty products.