B&G Foods (NYSE:BGS) Hits New 1-Year Low – Here’s Why

B&G Foods, Inc. (NYSE:BGS) shares reached a new 52-week low on Wednesday . The stock traded as low as $6.46 and last traded at $6.49, with a volume of 172539 shares traded. The stock had previously closed at $6.50.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on BGS shares. StockNews.com raised shares of B&G Foods from a “sell” rating to a “hold” rating in a report on Thursday, September 26th. Royal Bank of Canada reissued a “sector perform” rating and set a $10.00 price objective on shares of B&G Foods in a report on Wednesday, August 7th. Evercore ISI decreased their price objective 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. TD Cowen decreased their price objective on shares of B&G Foods from $8.00 to $7.50 and set a “sell” rating on the stock in a report on Wednesday, November 6th. Finally, Barclays decreased their price objective on shares of B&G Foods from $8.00 to $7.00 and set an “equal weight” rating on the stock in a report on Thursday, November 7th. One research analyst has rated the stock with a sell rating and five have given a hold rating to the company. According to data from MarketBeat, B&G Foods has a consensus rating of “Hold” and an average price target of $8.30.

B&G Foods Stock Performance

The company has a current ratio of 1.64, a quick ratio of 0.49 and a debt-to-equity ratio of 2.40. The business’s fifty day simple moving average is $8.44 and its 200 day simple moving average is $8.68.

B&G Foods (NYSE:BGS) last issued 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). The business had revenue of $461.10 million during the quarter, compared to the consensus estimate of $473.82 million. B&G Foods had a negative net margin of 1.34% and a positive return on equity of 6.97%. The firm’s revenue for the quarter was down 8.3% compared to the same quarter last year. During the same period last year, the business posted $0.27 EPS. Analysts expect that B&G Foods, Inc. will post 0.73 earnings per share for the current fiscal year.

B&G Foods Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 30th. Stockholders of record on Tuesday, December 31st will be paid a dividend of $0.19 per share. The ex-dividend date is Tuesday, December 31st. This represents a $0.76 annualized dividend and a dividend yield of 11.99%. B&G Foods’s dividend payout ratio is currently -223.52%.

Insider Transactions at B&G Foods

In other news, EVP Jordan E. Greenberg sold 8,000 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $8.33, for a total value of $66,640.00. Following the transaction, the executive vice president now directly owns 66,095 shares of the company’s stock, valued at $550,571.35. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, EVP Scott E. Lerner acquired 7,611 shares of B&G Foods stock in a transaction on Friday, November 8th. The shares were purchased at an average cost of $6.57 per share, for a total transaction of $50,004.27. Following the completion of the purchase, the executive vice president now directly owns 196,755 shares of the company’s stock, valued at approximately $1,292,680.35. This represents a 0.00 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Jordan E. Greenberg sold 8,000 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $8.33, for a total transaction of $66,640.00. Following the completion of the transaction, the executive vice president now directly owns 66,095 shares of the company’s stock, valued at $550,571.35. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 3.20% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in BGS. American Century Companies Inc. lifted its holdings in shares of B&G Foods by 71.3% in the second quarter. American Century Companies Inc. now owns 1,640,354 shares of the company’s stock worth $13,254,000 after acquiring an additional 682,688 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of B&G Foods by 33.9% in the second quarter. Dimensional Fund Advisors LP now owns 1,918,418 shares of the company’s stock worth $15,501,000 after acquiring an additional 485,714 shares during the last quarter. AQR Capital Management LLC lifted its holdings in shares of B&G Foods by 154.0% in the second quarter. AQR Capital Management LLC now owns 626,807 shares of the company’s stock worth $5,065,000 after acquiring an additional 380,054 shares during the last quarter. Savoir Faire Capital Management L.P. lifted its holdings in shares of B&G Foods by 37.5% in the second quarter. Savoir Faire Capital Management L.P. now owns 528,250 shares of the company’s stock worth $4,268,000 after acquiring an additional 144,146 shares during the last quarter. Finally, Landscape Capital Management L.L.C. bought a new position in shares of B&G Foods in the third quarter worth about $1,201,000. Institutional investors own 66.15% of the company’s stock.

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, crackers, baking powder and soda, corn starch, nut clusters, and other specialty products.