B&G Foods (NYSE:BGS) Hits New 52-Week Low at $17.69

B&G Foods, Inc. (NYSE:BGSGet Rating) shares hit a new 52-week low on Friday . The stock traded as low as $17.69 and last traded at $17.72, with a volume of 20517 shares changing hands. The stock had previously closed at $18.62.

Analyst Ratings Changes

A number of equities analysts have recently commented on BGS shares. BMO Capital Markets cut their price objective on shares of B&G Foods from $29.00 to $21.00 and set a “market perform” rating for the company in a research report on Monday, August 8th. StockNews.com cut shares of B&G Foods from a “hold” rating to a “sell” rating in a research note on Saturday, August 13th. Piper Sandler increased their target price on shares of B&G Foods from $23.00 to $27.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 2nd. Credit Suisse Group lowered their target price on shares of B&G Foods to $20.00 in a research note on Tuesday, August 9th. Finally, Seaport Res Ptn reiterated a “neutral” rating on shares of B&G Foods in a research note on Friday, August 5th. Two analysts have rated the stock with a sell rating and three have issued a hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $22.67.

B&G Foods Stock Performance

The company’s 50-day moving average price is $22.47 and its two-hundred day moving average price is $24.24. The company has a debt-to-equity ratio of 2.44, a quick ratio of 0.89 and a current ratio of 3.27. The stock has a market cap of $1.28 billion, a PE ratio of 30.51 and a beta of 0.29.

B&G Foods (NYSE:BGSGet Rating) last posted its quarterly earnings data on Thursday, August 4th. The company reported $0.07 earnings per share for the quarter, missing the consensus estimate of $0.27 by ($0.20). The company had revenue of $479.00 million for the quarter, compared to analysts’ expectations of $480.51 million. B&G Foods had a net margin of 1.90% and a return on equity of 10.12%. The business’s quarterly revenue was up 3.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.41 EPS. On average, equities research analysts forecast that B&G Foods, Inc. will post 1.13 EPS for the current year.

B&G Foods Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 31st. Investors of record on Friday, September 30th will be given a $0.475 dividend. This represents a $1.90 dividend on an annualized basis and a yield of 10.63%. The ex-dividend date is Thursday, September 29th. B&G Foods’s payout ratio is presently 322.03%.

Insider Buying and Selling

In related news, Director Alfred Poe sold 13,875 shares of B&G Foods stock in a transaction on Tuesday, September 13th. The shares were sold at an average price of $20.66, for a total value of $286,657.50. Following the transaction, the director now owns 34,007 shares in the company, valued at approximately $702,584.62. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 2.70% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On B&G Foods

Large investors have recently added to or reduced their stakes in the business. Tompkins Financial Corp purchased a new position in B&G Foods in the 1st quarter worth $27,000. Prospera Financial Services Inc bought a new stake in B&G Foods in the 1st quarter worth $34,000. CWM LLC grew its holdings in B&G Foods by 50.7% in the 1st quarter. CWM LLC now owns 1,427 shares of the company’s stock worth $39,000 after acquiring an additional 480 shares during the last quarter. CoreCap Advisors LLC bought a new stake in B&G Foods in the 2nd quarter worth $38,000. Finally, Wellington Shields Capital Management LLC bought a new stake in B&G Foods in the 1st quarter worth $47,000. Hedge funds and other institutional investors own 66.73% of the company’s stock.

About B&G Foods

(Get Rating)

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, corn starch, cookies and crackers, nut clusters, and other specialty products.

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