B&G Foods (NYSE:BGS) Shares Down 3.4%

B&G Foods, Inc. (NYSE:BGS)’s stock price traded down 3.4% on Thursday . The company traded as low as $32.85 and last traded at $32.89. 8,883 shares traded hands during trading, a decline of 99% from the average session volume of 870,363 shares. The stock had previously closed at $34.06.

A number of equities analysts have weighed in on the stock. Zacks Investment Research downgraded shares of B&G Foods from a “hold” rating to a “strong sell” rating and set a $27.00 price target on the stock. in a research note on Tuesday, January 4th. Piper Sandler downgraded shares of B&G Foods from a “neutral” rating to an “underweight” rating and set a $27.00 price target on the stock. in a research note on Friday, November 5th.

The firm’s 50-day moving average price is $31.40 and its 200-day moving average price is $30.54. The company has a market cap of $2.18 billion, a price-to-earnings ratio of 25.82 and a beta of 0.34. The company has a debt-to-equity ratio of 2.90, a current ratio of 3.11 and a quick ratio of 0.88.

B&G Foods (NYSE:BGS) last released its quarterly earnings data on Thursday, November 4th. The company reported $0.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.56 by ($0.01). B&G Foods had a return on equity of 14.36% and a net margin of 4.23%. The business had revenue of $514.97 million during the quarter, compared to analyst estimates of $495.36 million. During the same period in the previous year, the company earned $0.74 EPS. B&G Foods’s revenue was up 3.9% on a year-over-year basis. On average, sell-side analysts anticipate that B&G Foods, Inc. will post 1.93 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, January 31st. Stockholders of record on Friday, December 31st will be given a $0.475 dividend. This represents a $1.90 annualized dividend and a dividend yield of 5.66%. The ex-dividend date is Thursday, December 30th. B&G Foods’s payout ratio is currently 146.15%.

Several institutional investors have recently added to or reduced their stakes in BGS. FMR LLC grew its holdings in B&G Foods by 75.6% during the 2nd quarter. FMR LLC now owns 841 shares of the company’s stock valued at $27,000 after purchasing an additional 362 shares in the last quarter. IndexIQ Advisors LLC grew its holdings in B&G Foods by 269.9% during the 3rd quarter. IndexIQ Advisors LLC now owns 947 shares of the company’s stock valued at $28,000 after purchasing an additional 691 shares in the last quarter. Dividend Assets Capital LLC acquired a new stake in B&G Foods during the 3rd quarter valued at $30,000. Spire Wealth Management grew its holdings in B&G Foods by 25.9% during the 4th quarter. Spire Wealth Management now owns 1,460 shares of the company’s stock valued at $45,000 after purchasing an additional 300 shares in the last quarter. Finally, WD Rutherford LLC grew its holdings in B&G Foods by 64.7% during the 3rd quarter. WD Rutherford LLC now owns 1,655 shares of the company’s stock valued at $49,000 after purchasing an additional 650 shares in the last quarter. 65.90% of the stock is owned by institutional investors.

About B&G Foods (NYSE:BGS)

B&G Foods, Incis 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.

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