B&G Foods (NYSE:BGS) Sets New 12-Month Low at $16.13

B&G Foods, Inc. (NYSE:BGS)’s share price reached a new 52-week low during trading on Monday . The company traded as low as $16.13 and last traded at $16.16, with a volume of 1450994 shares changing hands. The stock had previously closed at $16.31.

A number of analysts recently commented on BGS shares. Barclays reiterated a “hold” rating and set a $22.00 price objective on shares of B&G Foods in a research report on Monday, July 15th. ValuEngine upgraded B&G Foods from a “strong sell” rating to a “sell” rating in a research report on Wednesday, October 2nd. Finally, Credit Suisse Group reduced their price objective on B&G Foods from $19.00 to $17.00 and set an “underperform” rating for the company in a research report on Friday, August 30th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the stock. B&G Foods has a consensus rating of “Hold” and an average target price of $25.94.

The company has a debt-to-equity ratio of 2.12, a current ratio of 3.02 and a quick ratio of 0.97. The business has a 50-day simple moving average of $18.20 and a 200 day simple moving average of $20.62. The firm has a market cap of $1.07 billion, a PE ratio of 8.74 and a beta of 0.46.

B&G Foods (NYSE:BGS) last issued its quarterly earnings results on Thursday, August 1st. The company reported $0.38 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.03. The business had revenue of $371.20 million during the quarter, compared to analysts’ expectations of $370.24 million. B&G Foods had a return on equity of 13.04% and a net margin of 10.75%. The business’s quarterly revenue was down 4.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.38 earnings per share. On average, equities analysts forecast that B&G Foods, Inc. will post 1.75 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 30th. Shareholders of record on Monday, September 30th will be given a $0.475 dividend. This represents a $1.90 dividend on an annualized basis and a yield of 11.76%. The ex-dividend date is Friday, September 27th. B&G Foods’s payout ratio is 102.70%.

In related news, Director Deann L. Brunts purchased 2,483 shares of B&G Foods stock in a transaction on Thursday, August 15th. The stock was acquired at an average price of $18.98 per share, for a total transaction of $47,127.34. Following the completion of the transaction, the director now directly owns 22,272 shares in the company, valued at approximately $422,722.56. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 2.20% of the company’s stock.

Several large investors have recently added to or reduced their stakes in BGS. Coastal Investment Advisors Inc. grew its position in shares of B&G Foods by 333.3% during the third quarter. Coastal Investment Advisors Inc. now owns 1,300 shares of the company’s stock worth $25,000 after purchasing an additional 1,000 shares in the last quarter. NEXT Financial Group Inc purchased a new stake in shares of B&G Foods during the second quarter worth about $37,000. TRUE Private Wealth Advisors purchased a new stake in shares of B&G Foods during the second quarter worth about $44,000. Clear Perspective Advisors LLC purchased a new stake in shares of B&G Foods during the second quarter worth about $81,000. Finally, CHICAGO TRUST Co NA purchased a new stake in shares of B&G Foods during the third quarter worth about $208,000. Hedge funds and other institutional investors own 97.48% of the company’s stock.

About B&G Foods (NYSE:BGS)

B&G Foods, Inc manufactures, sells, and distributes a portfolio of shelf-stable and frozen foods in the United States, Canada, and Puerto Rico. Its products include frozen and canned vegetables, oatmeal and hot cereals, fruit spreads, canned meats and beans, bagel chips, spices, seasonings, hot sauces, wine vinegars, maple syrups, molasses, salad dressings, pizza crusts, Mexican-style sauces, dry soups, taco shells and kits, salsas, pickles, peppers, tomato-based products, puffed corn and rice snacks, cookies and crackers, nut clusters, and other specialty products.

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