B&G Foods Shares Plunged: What You Need to Know
Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Shares of B&G Foods (NYS: BGS) fell as much as 13% on very high volume today.
So what: Sales grew 6.9% to $129.4 million and new income exploded 48.3% higher to $12.6 million in the second quarter. Revenue was in line with expectations and earnings per share of $0.26 actually beat expectations by a penny.
Now what: Doesn't seem like a big reason to sell, but plenty of sellers hit the market in the first hour of trading today. Since then shares have climbed slightly. It may have been a case of overblown expectations on a stock that has risen significantly recently. There's no reason for long-term investors to panic, but this does provide a nice entry point for investors looking to build a position.
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At the time this article was published Fool contributor Travis Hoium does not have a position in any company mentioned. You can follow Travis on Twitter at @FlushDrawFool, check out his personal stock holdings or follow his CAPS picks at TMFFlushDraw.Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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