|Bid||12.79 x 800|
|Ask||12.85 x 800|
|Day's range||12.75 - 12.98|
|52-week range||12.17 - 34.27|
|Beta (5Y monthly)||0.36|
|PE ratio (TTM)||24.17|
|Earnings date||27 Feb 2023 - 03 Mar 2023|
|Forward dividend & yield||0.76 (5.62%)|
|Ex-dividend date||29 Dec 2022|
|1y target est||13.94|
Shares of B&G Foods (NYSE: BGS) slid 18.9% in November, according to data from S&P Global Market Intelligence, after the packaged food company reported third-quarter earnings that missed Wall Street expectations, but also slashed its dividend 60% from its previous payout rate. The company has been hit hard by inflation and rising interest rates, which left its dividend consuming all of its excess cash and leaving little left for paying down debt or other business needs. The quarterly dividend was cut from $0.475 per share to just $0.19 per share.
It wasn't immediately clear why Rattigan made his move, but he's not the only analyst finding his inner bear with B&G. In mid-November, his peer Nik Modi of RBC Capital enacted quite a drastic price target cut on the stock, slicing it to $16 per share; it was formerly $24.
AIZ, BGS and PCB have been added to the Zacks Rank #5 (Strong Sell) List on November 30, 2022.